Chapter 4 - Encumbrances Flashcards Preview

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Flashcards in Chapter 4 - Encumbrances Deck (20)
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1

What is the name of the court executed document that gives a sheriff the authority to sell a debtor's property?

writ of execution

2

Unlike other types of easements, a commercial easement in gross can be

assigned

3

A deed of trust is

a security instrument similar to a mortgage

4

A lien is a type of

financial encumbrance

5

In California, the homestead exemption for a debtor over 65 years of age is

$175,000

6

An item that belongs to and passes with the title of real property is

an appurtenance

7

A person who provides labor, materials, or professional services for the improvement of real property can file ____ against the property

A mechanic's lien

8

Generally, a lien priority is determined by

the date the lien was recorded

9

a noxious odor or unsightly condition on a property that interferes with the neighboring property owner's reasonable use and enjoyment of their property is known as

a nuisance

10

In California, special lien priority is given to (check all that apply)

  • - property tax liens
  • - special assessments liens
  • - mortgage liens

- property tax liens

- special assessment liens

11

Real property tax is a ____ lien on a property

specific

12

when property is made security for a debt, the property is said to be all of the following EXCEPT:

  • -hypothecated
  • -financed
  • -collateralized
  • -condemned

except condemned

13

The right given to remove something from the land belonging to someone else is known as

a profit

14

right of way easements, such as those acquired by public utilities, are called

easements in gross

15

when a portion of a property is sold to another and is landlocked the property owner will most likely

get an easement by necessity over the adjoining property

16

provisions contained in a deed that limit the use of private property are known as

deed restrictions

17

an easement is

an encumbrance on real property

18

private restrictions contained within a subdivision's CC&Rs can be terminated by

a majority vote of the landowners within the subdivision

19

a distinguishing factor of a license is that it

can be revoked

20

the servient estate, as it applies to an easement appurtenant, is the property

upon which the easement is placed