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20 Cards in this Set
- Front
- Back
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Inchoate
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Incomplete or a right not yet perfected
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License
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Revocable permission to use another's land
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Trade Fixtures
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A commercial tenant's removable fixtures
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Tenancy in Common
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No right of survivorship where the heirs inherit the deceased person's percentage of ownership
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Novation
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Contractual substitution of obligations from one party to another
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Lis pendens
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Latin for "litigation type action" is pending
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JTWROS
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Joint Tenancy with the right of Survivorship
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Appurtenance
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Something "in addition to" such as a right of way across someone else's property
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Valuable Consideration
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Money or commodity used in a contract
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Prescriptive Easement
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An easement created by open, notorious, hostile, and continuous usage
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Servient Tenement
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Easement is placed on this tenement
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Escheat
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No heirs, therefore the government becomes owner
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Situs
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Favorable site or preferred location
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Township
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36 sections with each section having 640 acres
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Dominant Tenement
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Tenement easement user
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Remainderman
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The person to whom a life estate goes upon the death of the life tenant
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Laches
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Doctrine that says if you fail to exercise a right within a reasonable time you could lose your right to act at a later time; the basis for statue of limitations laws
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Specific Lien
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A special assessment
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Datum
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Elevation benchmark
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Meridians
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Parallel vertical lines (N and S) six miles apart
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