Florida Real Estate Exam 200 Questions And Answers Set 02
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Terms in this set
200
How much is 1 point worth ?
1%
Encumbrances
Claim or limitation against the property by a party that is not the owner (cloud on a title)
Easment
A right held by one person to use the land of another person for a specific reason (access to a property)
Appurtenance easement
This means whenever a property is sold the new owner gets to keep the right to the easement. (It does not cancel the right for them to use the other persons land. ) must be in writing to be valid q
Easement in Gross
the right to use land for a specific, limited time purpose. It's usually for companies that need land for utility purposes like changing the power lines that are on your property.
Easement by prescription
When your trespass for so long over someone's land that it gives you right to continue using it after approval by a judge that it's valid. Even if it goes against the own of the property ( in Florida it has to be done continuously for over 20 years for it to be valid)
What are the main ways to end an easement
1. Mutual agreement
2. The servant (big house) buys the dominant property(small house) and claims it for themselves which gets rid of it
3. Abandonment (they stop using it)
4. The need no longer exists
2. The servant (big house) buys the dominant property(small house) and claims it for themselves which gets rid of it
3. Abandonment (they stop using it)
4. The need no longer exists
Real Property
Generally immovable. Goes with the real estate.
Personal property
Generally movable. Goes with the person personal property can be hypothecated, alienated, and become real party (a fixture)
Fixture
Personal property that is now real property for example - a pool covering or a painting that has been mailed to the wall