Term
| What is the relationship between eminent domain and condemnation? |
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Definition
| They are the same thing. The right of the state govt, state govt, or another public agency to take possession of private property and appropriate it for public use. |
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Term
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Definition
| the exercise of eminent domain to seize private property. |
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Term
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Definition
| a legal claim placed on property. It gives the party filing the lien the right to retain possession of the property until a debt payable is satisfied. |
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Term
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Definition
| the right of the govt to retain possession of property until the tax on it has been paid. |
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Term
| list 4 ways highway property can be obtained from private owners. |
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Definition
1. Outright or direct purchase (mutual agreement)
2. Eminent domain or condemnation (hostile acquisition)
3. Prescription (hostile acquisition)
4. Dedication (mutual agreement) |
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Term
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Definition
| The acquisition of property that has been used by the public for a prescribed period of time. falls under state law. |
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Term
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Definition
| The granting by the owner of the use of private property for the public at large. The owner cannot deny cont'd use, and land remains under ownership of private citizen. |
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Term
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Definition
| a tract of land, usually consisting of a series of connected parcels of property, that is used for the operation of a highway or public utility. Owned by either public or private firms. most commonly obtained through outright purchase. |
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Term
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Definition
| A restricted use of private land granted to another party. The restricted use may be in the form of the right to cross a parcel of land to gain access to another; the right to install, maintain and monitor a gas line, etc. |
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Term
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Definition
| Restrictions placed on land usage to assure orderly growth and development in a municipal area. |
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Term
| What is a mechanic's lien? |
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Definition
| A right created by law that permits a worker to place a claim on land on which improvements have been made. |
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Term
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Definition
| The sale of property to obtain recovery of unpaid monies owed. |
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Term
| What is a 'notice to owner'? |
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Definition
| An official document that puts the owner on notice that a lien can be filed if a particular party is not paid (the owner should obtain a doct that a potential lien is no longer a threat). |
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Term
| What is a 'partial release of lien'? |
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Definition
| A document from subs and suppliers that informs the owner of the extent to which payments have been made to them by the general contractor. |
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Term
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Definition
| A stop notice permits a worker, materials supplier or sub to notify the owner when the general contractor has failed to make payments for labor and/or materials. |
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Term
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Definition
| A surety instrument guaranteeing the bearer's payments to suppliers, laborers and subs. |
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Term
| List several criticisms of mechanic's liens. |
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Definition
| they are complex, inconsistent between states, not a guarantee of payment and payment may be made twice by owners. |
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Term
| How can mechanic's liens be avoided or their impact minimized? |
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Definition
| Owners can post a notice of non-responsibility within a time after improvements; use a No-Lien contract; have GC pall all before owner pays; owner can delay making final payment to GC until time for lien filing has passed; owner can keep a retainage of fees to GC; require a payment bond from GC. |
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Term
| What is an agency agreement? |
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Definition
| an arrangement between a principal and an agent by which the agent agrees to perform certain tasks for the principal. The principal is bound by the actions of the agent. |
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Term
| Define 'contingent liability' |
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Definition
| When the owner may be liable to a third party for work undertaken by someone under contract. e.g. a neighbor not party to a contract that is affected by contractor work. |
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