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Questions and Answers
What is a general lien?
What is a general lien?
When can a lien be removed from the record?
When can a lien be removed from the record?
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?
What is an encumbrance in property law?
What is an encumbrance in property law?
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In what situation is a lien considered subordinate?
In what situation is a lien considered subordinate?
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What is one characteristic of a restricted easement?
What is one characteristic of a restricted easement?
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In which scenario would a mortgage be considered a lien?
In which scenario would a mortgage be considered a lien?
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Which statement is true regarding easements appurtenant?
Which statement is true regarding easements appurtenant?
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What distinguishes an easement in gross from other types of easements?
What distinguishes an easement in gross from other types of easements?
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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?
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What must a property owner do to remove an encroachment?
What must a property owner do to remove an encroachment?
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How is the date of an easement recorded?
How is the date of an easement recorded?
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Which statement about easements is incorrect?
Which statement about easements is incorrect?
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What is true regarding exclusive easements?
What is true regarding exclusive easements?
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Which of the following scenarios would NOT typically create an easement?
Which of the following scenarios would NOT typically create an easement?
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Study Notes
Chapter 4 Quiz - Key Concepts
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Mechanic's Lien Priority: A mechanic's lien priority is determined by the date work begins on a project, not the recording date.
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Judgment Lien Priority: Judgment liens take priority based on the recording date.
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Easements in Gross: Easements in gross benefit a person, not a parcel of land.
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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.
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Lis Pendens: A recorded lis pendens notifies potential buyers of a pending lawsuit. Future owners inherit the lien.
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Termination of Easements: Easements can be terminated by merger, prescription, release, or revocation.
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Encroachment Actions: To remove an encroachment, a lawsuit must be filed within a specific timeframe (e.g., 2-5 years, depending on the jurisdiction).
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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.
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Specific vs. General Liens: A specific lien affects a particular property while a general lien affects all a debtor's assets.
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Encumbrances: Restrictions, such as liens, easements, and covenants, that reduce the value of an interest in specified property.
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Liens for Real Property Taxes: Real property tax liens always take precedence over other types of liens.
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Statute of Limitations: This dictates the time limit for initiating legal actions like removal of encroachments or actions involving real estate.
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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.
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Description
Test your understanding of crucial concepts in real estate, such as mechanic's lien priority and types of easements. This quiz covers essential terms and their implications for property ownership and rights. Challenge yourself to see how well you grasp these key legal concepts.
