Test Bank for Real Estate Principles: A
Value Approach: Chapter 2 4th Edition
by Valerie D. Thompson
Assessment Lien - ANSAutomatically assessed lien incurred from improvements that the
property receives benefit from.
Attach - ANSPlace a lien on.
Community Development District Lien - ANSAttached to properties within a private community
for improvements within that community.
Community Property - ANSSpousal claim to half of property acquired while married.
Condominium - ANSOwnership through tenancy in common whereby the person has a fee
simple interest in a separate space while also sharing community areas with other tenants.
Condominium Bylaws - ANSRules enacted by the mini-government that oversees the
condominium.
Condominium Declaration - ANSMaster deed that creates a condominium.
Cooperative - ANSA proprietary corporation where multiple parties have a "proprietary lease" on
a given space.
Declaration of covenants - ANSUsed to control land use within a subdivision, often sets limits
with the goal of improving perceived quality, stability and value of the lots.
Deed restriction - ANSAn individual restriction that can only be enforced by the owner of the
restriction or their heirs.
Dominant parcel - ANSLocation that benefits from an easement.
Dower - ANSCommon law ruling where a widow gets 1/3 of her husband's property as long as
she did not join in conveying the property to a new owner.
Easement - ANSthe right to use land for a specific and limited purpose
Easement appurtenant - ANSEasements that have adjacent dominant and servient parcel.
Value Approach: Chapter 2 4th Edition
by Valerie D. Thompson
Assessment Lien - ANSAutomatically assessed lien incurred from improvements that the
property receives benefit from.
Attach - ANSPlace a lien on.
Community Development District Lien - ANSAttached to properties within a private community
for improvements within that community.
Community Property - ANSSpousal claim to half of property acquired while married.
Condominium - ANSOwnership through tenancy in common whereby the person has a fee
simple interest in a separate space while also sharing community areas with other tenants.
Condominium Bylaws - ANSRules enacted by the mini-government that oversees the
condominium.
Condominium Declaration - ANSMaster deed that creates a condominium.
Cooperative - ANSA proprietary corporation where multiple parties have a "proprietary lease" on
a given space.
Declaration of covenants - ANSUsed to control land use within a subdivision, often sets limits
with the goal of improving perceived quality, stability and value of the lots.
Deed restriction - ANSAn individual restriction that can only be enforced by the owner of the
restriction or their heirs.
Dominant parcel - ANSLocation that benefits from an easement.
Dower - ANSCommon law ruling where a widow gets 1/3 of her husband's property as long as
she did not join in conveying the property to a new owner.
Easement - ANSthe right to use land for a specific and limited purpose
Easement appurtenant - ANSEasements that have adjacent dominant and servient parcel.
