Property Ownership & Rights Flashcards
6 cards from real Real Estate practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Property Ownership & Rights flashcards as text
A quitclaim deed transfers:
Answer: Whatever interest the grantor has, with no warranties
A quitclaim deed conveys only whatever interest the grantor holds at the time, providing no warranties or guarantees of title.
Tenancy in common differs from joint tenancy primarily because:
Answer: There is no right of survivorship
In tenancy in common, each owner's interest passes through their estate upon death; there is no automatic right of survivorship.
A deed restriction (restrictive covenant) is enforceable by:
Answer: Neighboring property owners or homeowners associations
Deed restrictions run with the land and can be enforced by parties who benefit from them, such as HOA members or neighboring owners.
Escheat is the government process by which:
Answer: Abandoned property reverts to the state
Escheat transfers title of property to the state when an owner dies intestate with no heirs or when property is otherwise abandoned.
A leasehold estate gives the tenant:
Answer: A temporary right to possess property under a lease
A leasehold estate is a personal property interest granting the right to possess and use real property for a defined period under a lease agreement.
Which government power allows land to be taken for public use such as a highway?
Answer: Eminent domain
Eminent domain (condemnation) authorizes government to acquire private land for public purposes, with just compensation required by the Fifth Amendment.