CHAPTER 3 SHORT-ANSWER QUESTION ANSWERS

Transcription

1 MIntosh Rel Estte Shool Uniform Course - Chpter 3 CHAPTER 3 SHORT-ANSWER QUESTION ANSWERS King, noles, villeins, ul, overlor. lloil, solute. tx, ontrol, helth, puli, eminent, omin, heirs, will. nglo-merin, iniviul. freehol esttes or non-freehol esttes. fee simple solute. efesile fee. fee til. life estte. 6.. estte for yers. estte from perio to perio. estte t will. estte t sufferne 7. lesehol interests 8. omprehensive, unle of rights. right to possess. right to use. right to enjoy. right to ontrol e. right to ispose 9.. polie power. eminent omin. txtion. eshet e. zoning polie power - the right of the government to regulte the use of ln in orer to promote generl helth sfety n welfre of the puli. Exmple: zoning.. eminent omin - the right of the government to tke privte ln for puli purpose upon pyment of just ompenstion. This is one y onemntion suit.. txtion - the right of the government to tx the ln to rise money for governmentl purposes. If the txes re not pi, the government n sell the ln t tx sle.. eshet - the right of the government to hve ln revert to it if n iniviul ies without heirs n intestte (without will.) e. zoning - lol lws tht implement pln n regulte the use of ln n strutures within esignte ln-use istrits Nononforming Use. If lot or improvement oes not onform to the zoning use euse it existe efore the entment of the zoning orinne, then the use my e permitte to remin.. Conitionl Use Permit. A speil use is not normlly llowe within zoning istrit, ut is permitte euse it is essentil or esirle to prtiulr ommunity.. Vrine. Allows hnge in the use of their property if n owner is eprive of resonle use of their property y the zoning entment. Copyright All Rights Reserve 1 Rel Estte Lw & Prtie (48 reit hrs)

2 MIntosh Rel Estte Shool Uniform Course - Chpter 3. Spot Zoning. A "spot" within lrger zone whih hs ifferent zoning, usully for politil resons ee restritions. mortgges. leses. esements Dee restritions re ple on the ln y the grntor n restrit the use of the ln. Exmples woul e restriting the height of resienes n the type of mterils to e use suh s wooen shke shingles.. A mortgge is n enumrne on the property n luses in the mortgge my restrit the use of the property or keep you from mking hnges in the property until the mortgge is pi off.. Leses suspen the owner's right to possession of the property for the urtion of the lese.. Esements give the right to someone other thn the owner to use the ln for speifi purpose. An exmple woul e the right to use the North ten feet of your neighor's ln for rowy. 14. se fee, qulifie fee.. Fee simple sujet to speil limittion. Fee simple sujet to onition susequent. Fee simple sujet to n exeutory limittion. 15. A fee simple sujet to speil limittion is grnt of ln from 'X' (grntor) to 'Y' (grntee) to hve n to hol so long s, or while, or until n event ours. If the speifi event never ours, title to the ln will lwys sty in the hns of the grntee. However, if the speifi event oes our, title to the ln utomtilly reverts to the grntor. 16. A fee simple sujet to onition susequent is similr to speil limittion in mny wys. The istinguishing feture n si ifferene is tht in this se, when the speifi event ours, title to the ln oes not utomtilly revert. It only gives the grntor the right to re-enter n retke the property. The grntor must tke ffirmtive tion. 17. A fee simple sujet to n exeutory limittion hs s its istinguishing feture the ft tht when the speifi event ours, title to the property oes not go k to the grntor. Inste it psses to thir prty. 18. forever, file, reverte, olishe, fee simple. 19. grntor, thir, eth, termintes Dower. The life estte given to the wife in one thir prt of ll the rel property owne y the husn uring the mrrige. The onveyne of rel property y the husn efore eth i not estroy the wife's right unless she h joine in the onveyne.. Curtesy. This ws life estte given to the husn in ll the rel property owne y the wife uring the mrrige, provie hil ws orn live from their mrrige. Both Dower n Curtesy hve een olishe in Coloro. 21. lesehol. tenny for yers. perioi tenny. tenny t will. tenny t sufferne. 22. joint tenny, tenny in ommon. Copyright All Rights Reserve 2 Rel Estte Lw & Prtie (48 reit hrs)

3 MIntosh Rel Estte Shool Uniform Course - Chpter eqully. use. enjoyment. ontrol. possession. 24. survivorship 25. No time. title. interest. possession. 27. ny. onveyne y one of the joint tennts of tht tennt's interest. n involuntry trnsfer y suh mens s forelosure. 28. possession. 29. No, the shres my e unequl. 30. Yes. 31. No Aoring to tht tennt's will, if there is one.. If the tennt ies intestte (no will), then y the sttute of esent n istriution. 33. joint tenny, tenny in ommon, yes. 34. Avising the prties s to wht type of onveyne is est for them. Tht woul onstitute the prtie of lw. 35. It exempts the first $60,000 of equity in vlue of one's home from exeution or tthment (from n unseure reitor only.) 36. The home must e oupie y the owner or the owner's fmily. 37. Yes. 38. Yes. For exmple, it is wive in mortgge or ee of trust (euse it is seure.) 39. An esement is the right to use the ln of nother for speifi purpose. 40. psses - Another wy to express this is to sy it 'runs with the ln' n thus goes from grntee to grntee. 41. grntee 42. presriptive, use. 43. writing written relese or quit-lim ee. estrution of the servient estte. merger of the ominnt n servient estte. nonment or nonuse e. purpose no longer exists f. lwsuit (quiet title) g. exessive use 45.. open. notorious. ontinuous. verse Copyright All Rights Reserve 3 Rel Estte Lw & Prtie (48 reit hrs)

4 MIntosh Rel Estte Shool Uniform Course - Chpter 3 e. hostile 46. Eighteen yers, or 7 yers with olor of title n/or pyment of property txes. 47. ir spe, equl. 48. txe, mortgge. 49. tenny, yer. 50. shres, stok. 51. proprietry. 52. ontrt, onveyne, speifie, lessee 53. orl, written, one 54.. tenny for yers. perioi tenny. tenny t will. tenny t sufferne 55.. A tenny for yers is ny lese for efinite perio of time, whether it e for one y, or 99 yers;. Perioi tennies re rete y implition from the wy you py rent;. In tenny t will, either the lessor or the lessee my terminte the lese t their will;. Tenny t sufferne rises when tennt hols over t the expirtion of the originl lese. 56. yers, unimprove, pyment 57. grute. inreses tht re fixe n our t stte intervls. the inreses re se on the pprise vlue 58. ommeril, perentge 59. ir, Merhnise 60. net, ll 61. fixe, lnlor 62. fixe, shre 63.. expirtion of the term;. surrener n eptne;. reh of onitions;. evition of the tennt No notie to quit is neessry s the lese ens t te ertin;. 1. Yer to yer - three months notie; 2. Six month lese - one month notie; 3. Month to month - 10 ys notie; 4. Week to week - 3 ys notie;. Three ys notie;. No notie neessry. 65. mutul 66. either, injure 67. tul, onstrutive, unfit 68. onemntion, mortgge Copyright All Rights Reserve 4 Rel Estte Lw & Prtie (48 reit hrs)

5 MIntosh Rel Estte Shool Uniform Course - Chpter Rememer in nswering these questions, tht you only pply these rules when the sujet mtter is not overe y the lese. All of these mtters re usully overe in lese, so the results might e ifferent:. Pi in rrers;. Any use not prohiite y lw;. Lnlor my ompete n rent to other ompeting usinesses;. My use signs on ommeril property n my not on resientil; e. Lnlor responsile to keep wrm n hitle; f. Neither prty hs n oligtion to repir the premises; g. No right of entry y lnlor; h. Lnlor not lile for injuries to tennt n fmily, unless injury use y ltent efet; i. Destrution of premises oes not relieve tennt of oligtion to py rent; j. Tennt my sulet or ssign the lese; k. If the lnlor re-enters, the tennt is relieve of oligtion to py rent. Note - these re the ommon lw rules n re usully vrie in the written lese. Copyright All Rights Reserve 5 Rel Estte Lw & Prtie (48 reit hrs)

6 MIntosh Rel Estte Shool Uniform Course - Chpter 3 CHAPTER 3 QUIZ ANSWERS Copyright All Rights Reserve 6 Rel Estte Lw & Prtie (48 reit hrs)