MCKISSOCK CHAPTER 5 COMBINED
SET QUESTIONS WITH ALL
CORRECT ANSWERS
Who benefits from an easement. - Answer-the Dominant Tenant
Easement in Gross - Answer-An entity's personal right to use property. The receiver
DOES NOT own the adjoining property. Example:
How can Easements be terminated? - Answer-1. Release: Through a document to
giving up the easement holder's legal rights.
2. Merger: uniting two or more separate properties by transferring ownership of all to
one person.
3. Abandonment: the failure to occupy and use property, which may result in a loss of
rights.
4. Failure of Purpose: An easement terminates because the purpose for which it was
created no longer exists.
Failure of Purpose - Answer-when an easement terminates because the purpose for
which it was created no longer exists.
For Example: The utility company removes the power lines on your property, then the
easement would terminate.
What is the definition of a Voluntary lien? Give an example of one. - Answer-Are liens
placed against property "WITH" consent of the owner.
For example: A deed of trust.
What is the definition of an Involuntary Lien? Give examples. - Answer-Is araised
through the operation of law "WITHOUT" the consent of the property owner. Such as:
-A General Lien that attaches to all property owned by the debtor.
-A Specific Lien that attaches to specific property.
What is the definition of an Vendor's Lien? - Answer-Is an involuntary, specific liens that
secure payment of the balance of the purchase price of a piece of real estate if a real
estate buyer dones not pay the seller in full at closing.
Tax Liens are? - Answer-Liens on real property to secure the payment of real estate
taxes.
SET QUESTIONS WITH ALL
CORRECT ANSWERS
Who benefits from an easement. - Answer-the Dominant Tenant
Easement in Gross - Answer-An entity's personal right to use property. The receiver
DOES NOT own the adjoining property. Example:
How can Easements be terminated? - Answer-1. Release: Through a document to
giving up the easement holder's legal rights.
2. Merger: uniting two or more separate properties by transferring ownership of all to
one person.
3. Abandonment: the failure to occupy and use property, which may result in a loss of
rights.
4. Failure of Purpose: An easement terminates because the purpose for which it was
created no longer exists.
Failure of Purpose - Answer-when an easement terminates because the purpose for
which it was created no longer exists.
For Example: The utility company removes the power lines on your property, then the
easement would terminate.
What is the definition of a Voluntary lien? Give an example of one. - Answer-Are liens
placed against property "WITH" consent of the owner.
For example: A deed of trust.
What is the definition of an Involuntary Lien? Give examples. - Answer-Is araised
through the operation of law "WITHOUT" the consent of the property owner. Such as:
-A General Lien that attaches to all property owned by the debtor.
-A Specific Lien that attaches to specific property.
What is the definition of an Vendor's Lien? - Answer-Is an involuntary, specific liens that
secure payment of the balance of the purchase price of a piece of real estate if a real
estate buyer dones not pay the seller in full at closing.
Tax Liens are? - Answer-Liens on real property to secure the payment of real estate
taxes.
