Podcast
Questions and Answers
What is a general lien?
What is a general lien?
- A temporary claim until a lawsuit is resolved.
- A claim against a specific property.
- A claim limited to real estate only.
- A claim that does not attach to any specific property. (correct)
When can a lien be removed from the record?
When can a lien be removed from the record?
- Voluntarily by the lien holder.
- Only through a court order. (correct)
- Upon payment of any outstanding debts.
- Automatically after five years.
Which option best describes the conditions under which a lien may be difficult to enforce?
Which option best describes the conditions under which a lien may be difficult to enforce?
- When there are legal barriers to property access. (correct)
- When the debtor has no other outstanding loans.
- When the debtor is undefeated in court.
- When the lien is filed incorrectly.
What is an encumbrance in property law?
What is an encumbrance in property law?
In what situation is a lien considered subordinate?
In what situation is a lien considered subordinate?
What is one characteristic of a restricted easement?
What is one characteristic of a restricted easement?
In which scenario would a mortgage be considered a lien?
In which scenario would a mortgage be considered a lien?
Which statement is true regarding easements appurtenant?
Which statement is true regarding easements appurtenant?
What distinguishes an easement in gross from other types of easements?
What distinguishes an easement in gross from other types of easements?
What is a potential consequence of a creditor obtaining a judgment against a property?
What is a potential consequence of a creditor obtaining a judgment against a property?
What must a property owner do to remove an encroachment?
What must a property owner do to remove an encroachment?
How is the date of an easement recorded?
How is the date of an easement recorded?
Which statement about easements is incorrect?
Which statement about easements is incorrect?
What is true regarding exclusive easements?
What is true regarding exclusive easements?
Which of the following scenarios would NOT typically create an easement?
Which of the following scenarios would NOT typically create an easement?
Flashcards
Easement
Easement
A right to use another person's land for a specific purpose, granted in writing by the owner of the land.
Easement Appurtenant
Easement Appurtenant
An easement that benefits a specific piece of land.
Easement in Gross
Easement in Gross
An easement that benefits a person or entity, not a specific piece of land.
Easement Duration
Easement Duration
Signup and view all the flashcards
Easement Instrument
Easement Instrument
Signup and view all the flashcards
What is a general lien?
What is a general lien?
Signup and view all the flashcards
Purpose of a general lien?
Purpose of a general lien?
Signup and view all the flashcards
What is a lien?
What is a lien?
Signup and view all the flashcards
What is a specific lien?
What is a specific lien?
Signup and view all the flashcards
What is a mechanic's lien?
What is a mechanic's lien?
Signup and view all the flashcards
What is an easement?
What is an easement?
Signup and view all the flashcards
What is an easement appurtenant?
What is an easement appurtenant?
Signup and view all the flashcards
What is an easement in gross?
What is an easement in gross?
Signup and view all the flashcards
Can the owner of an easement in gross sell their rights?
Can the owner of an easement in gross sell their rights?
Signup and view all the flashcards
Study Notes
Chapter 4 Quiz - Key Concepts
-
Mechanic's Lien Priority: A mechanic's lien priority is determined by the date work begins on a project, not the recording date.
-
Judgment Lien Priority: Judgment liens take priority based on the recording date.
-
Easements in Gross: Easements in gross benefit a person, not a parcel of land.
-
Easement Appurtenant: An easement appurtenant benefits a dominant tenement and burdens a servient tenement; it runs with the land. It cannot be sold separately from the land.
-
Lis Pendens: A recorded lis pendens notifies potential buyers of a pending lawsuit. Future owners inherit the lien.
-
Termination of Easements: Easements can be terminated by merger, prescription, release, or revocation.
-
Encroachment Actions: To remove an encroachment, a lawsuit must be filed within a specific timeframe (e.g., 2-5 years, depending on the jurisdiction).
-
Homestead Exemption: A homestead exemption protects a portion of a homeowner's equity. A creditor cannot force the sale of the property if the equity is below the exemption amount.
-
Specific vs. General Liens: A specific lien affects a particular property while a general lien affects all a debtor's assets.
-
Encumbrances: Restrictions, such as liens, easements, and covenants, that reduce the value of an interest in specified property.
-
Liens for Real Property Taxes: Real property tax liens always take precedence over other types of liens.
-
Statute of Limitations: This dictates the time limit for initiating legal actions like removal of encroachments or actions involving real estate.
-
Special Assessments: These assessments take priority over other claims if a conflict arises.
Key Terms
- Mechanic's Lien: A claim against a property for unpaid labor or materials.
- Judgment Lien: A lien placed on property due to a court judgment.
- Easement: A right to use another's land for a specific purpose.
- Lis Pendens: A notice of pending legal action.
- Encroachment: The intrusion of a structure onto another's property.
- Homestead Exemption: Protections of a homeowner's property from claims by certain creditors.
- Lien Priority: The order in which liens are paid if a property is sold.
- Specific Lien: A lien that affects a particular property.
- General Lien: A lien that affects all assets of a debtor.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
