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55 Cards in this Set
- Front
- Back
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Party wall agreements don't ____________. |
grant a positive easement appurtenant to each owner in the other's wall. |
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There are two adjoining properties. An easement allows property A to use the access road that belongs to property B. In this situation, property A is said to be which of the following in relation to property B? |
Dominant tenement |
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Which of the following is not a ground for granting a prescriptive easement order? |
harmful use |
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Which of the following is not a legal feature of liens? |
a property may not be subject to multiple liens |
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A property line fence is an example of a(n) |
a party wall agreement |
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Easements and encroachments are types of |
encumbrances |
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A creditor who places a lien on a property is called the |
Lienor |
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a junior liens also know by the name |
inferior liens |
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tacking is the process whereby |
an individual who is in adverse possession of real property adds his or her period of possession to that of a prior adverse possessor. |
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A property owner who is selling her land wants to control how it is used in the future. She might accomplish her aim by means of |
a deed restriction |
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What distinguishes a lien from other types of encumbrance? |
It involves a monetary claim against the value of a property. |
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Which of the following is a TRUE statement? |
Licenses are not transferable and do not attach to the land. |
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A subdivision plat that does not allow front yard fences is an example of a(n) |
deed restriction. |
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A lien is |
a creditor's claim against personal or real property. |
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How does a lien terminate? |
Upon payment of the debt and recording of documents |
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What action creates an easement of necessity? |
a court decree |
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Which type of foreclosure processes does NOT enforce mortgage liens? |
exact forclosure |
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What written document gives public notice that a mortgaged property may soon have a judgment issued against it? |
Lis Pendens |
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A personal easement in gross is granted for which period of time? |
for the grantees lifetime |
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If someone uses another's property as an easement without permission for a statutory period of time, a court order may give the user the easement right by prescription, regardless of the owner's desires. How long is this "period of time"? |
10 years |
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Junior lien priority is based on
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the date of recording
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Which of the following statements best defines a judgment lien? |
A lien attached to real and personal property as a result of a money judgment issued by a court in favor of a creditor |
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The receiver of the easement right is ___________. |
the benefited party |
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There are two adjoining properties. An easement allows property A to use the access road that belongs to property B. In this situation, property A is said to be which of the following in relation to property B? |
dominant tenement |
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In a foreclosure, if the sale does not yield sufficient funds to cover the amounts owed, the mortgagee may ask the court for a(n) |
deficiency judgement |
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A special assessment lien |
applies only to properties that are expected to benefit from a municipal improvement. |
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Which type of foreclosure processes does NOT enforce mortgage liens? |
exact foreclosure |
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- For which homestead projects the following statement is correct? The owner must provide trust funds, which then must be deposited into an escrow account by the contractor at a bank. |
that total $5000 or more |
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check the right statement about texas |
texas is a lien-theory state |
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which lien conveys ownership over the property? |
Mortgage liens on a property in a title-theory state |
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A certain property has the following liens recorded against it: a mortgage lien dating from three years ago; a mechanic's lien dating from two years ago; a real estate tax lien for the current year; and a second mortgage lien dating from the current year. In case of a foreclosure, which of these liens will be paid first? |
Real estate tax lien |
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in which cases does a license cease |
On the death of either party, or on the sale of the property. |
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how can a covenant be create |
by mutual agreement |
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what are the two types of deed restrictions |
covenant and condition |
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how does a lien terminate |
upon payment of the debt and recording of documents |
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How often does the local legal taxing authority places a real estate tax lien against properties? |
every year |
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Check the right statement about the duration of the commercial easement. |
it is not tied to anyones lifetime |
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A property owner who is selling her land wants to control how it is used in the future. She might accomplish her aim by means of |
a deed restriction |
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a personal gross easement |
may not be revoked by the grantor |
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What action must a government take in order to evoke eminent domain?1 |
condemnation |
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Which of the following statements is false? |
one can own an easement over ones own property
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What may the creditor obtain to force the sale of attached property and collect the debt?
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writ of execution
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What distinguishes a lien from other types of encumbrance? |
It involves a monetary claim against the value of a property. |
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Which of the following statements best defines a short sale? |
A lender allows a borrower in default on mortgage to sell the mortgaged property for less money than necessary to satisfy the loan. |
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In Texas, what is the time period for granting a easement by prescription? |
10 years |
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A conventional mortgage lien is an example of... |
a specific lien |
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In which way an easement cannot be created? |
by seizure of protions of the owners property |
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What action must a government take in order to evoke eminent domain? |
condemnation |
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how does a lien terminate? |
Upon payment of the debt and recording of documents |
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what are the two types of easements |
appurtenant and gross |
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Which of the following liens is inferior? |
income tax lien |
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What contract form did TREC adopt for use as an addendum to be added to contracts in the short sale of property? |
TREC No. 45-1 |
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What type of court proceeding gives the lender a property title instead of cash proceeds from a public sale? |
strict forclosure |
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What is it called when during the notice of default and notice of sale periods, the borrower pays the lender and terminates the proceedings? |
reinstatement and redemption |
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Which of the following is not a ground for granting a prescriptive easement order? |
harmful use |
