Real Estate Sales Property Ownership and Rights Questions and Answers Flashcards

A property owner grants a neighbor the right to cross their land to access a public road. What type of interest has been created?

Answer: Easement appurtenant

An easement appurtenant grants a right to use another's land for a specific purpose, such as access, and runs with the land.

Which of the following best describes the concept of 'bundle of rights' in real estate ownership?

Answer: The complete set of legal rights associated with property ownership

The bundle of rights includes the rights to possess, use, enjoy, exclude others, and dispose of real property.

A developer places a restriction in all deeds within a subdivision prohibiting commercial use. This is an example of which type of restriction?

Answer: Deed restriction (restrictive covenant)

A deed restriction, also called a restrictive covenant, is a private limitation placed on property use by the grantor through the deed.

Under the doctrine of prior appropriation, water rights are determined by which principle?

Answer: First in time, first in right

Prior appropriation grants water rights based on who first put the water to beneficial use, regardless of land proximity.

Which type of co-ownership includes the right of survivorship and requires the four unities of time, title, interest, and possession?

Answer: Joint tenancy

Joint tenancy requires the four unities and includes the right of survivorship, meaning a deceased owner's share passes to surviving co-owners.

A homeowner discovers that a neighbor's fence extends two feet onto their property. This situation is legally known as what?

Answer: Encroachment

An encroachment occurs when a structure or improvement illegally extends onto another person's property.