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Fortune Academy Chapter 2
Land Use Controls
35
Real Estate & Planning
Professional
08/01/2013

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Term
Police Power
Definition
The right of a state to adopt and enforce laws.
Term
Three Examples of Police Power
Definition
1. Restrictive
2. Zoning Laws
3. Building Codes
Term
Zoning is a type of police power that is ___ control.
Definition
Public
Term
Variance
Definition
An exception to current zoning laws.
Term
Spot-Zoning
Definition
Zoning for one spot that is not consistent with surrounding zones.
Term
Non-conforming Use
Definition
Permitted use that was lawful at the time of creation that now does not conform to current zoning laws.
Term
Eminent Domain is the ___.
Definition
Power
Term
Condemnation is the ___.
Definition
Process
Term
Encumberance
Definition
Anything that affects the title.
Term
Types of Encumberances
Definition
Liens, Lis pendens, Non-possessory interests, Easements, Encroachment, Mortgages
Term
Easements
Definition
The right to use the property of another
Term
7 Types of Easements
Definition
1. In Gross
2. Appurtenant
3. By Necessity
4. By Implication
5. By Prescription
6. By Condemnation
7. By Dedication
Term
Easement In Gross
Definition
When utility companies require use of land.
Term
Easement Appurtenant
Definition
The right to use adjoining property that transfers with the land.
Term
Easement By Necessity
Definition
Requires a landlocked plot of land and a court order.
Term
Easement By Implication
Definition
Mutual agreement for use of land between two neighbors for one landlocked plot of land.
Term
Easement By Prescription
Definition
Allows use of land for a specified amount of time.
Term
Easement By Condemnation
Definition
Paid for by the government for public use.
Term
Easement By Dedication
Definition
Land gifted to the government for public use.
Term
Title Insurance
Definition
Assures that the title is good and pays for defects that are not recorded.
Term
Types of Title Insurance
Definition
1. Mortgagee (Lender) Policy
2. Owner's Policy
Term
Date on a Deed?
Definition
When it was recorded.
Term
Does a deed have to be recorded?
Definition
No
Term
Purpose of Recording a Deed
Definition
Gives constructive notice.
Term
Who sets standards for deed recording?
Definition
Each State.
Term
When is a special warranty deed is given when?
Definition
After the grantor acquired the title.
Term
Quit Claim Deed
Definition
Creates the least liability for the grantor by releasing a questionable interest in a property.
Term
General Warranty Deed
Definition
The strongest deed with the greatest liability for the grantor.
Term
Seven Covenants of a General Warranty Deed
Definition
1. Seisen (right to sell)
2. Against encumberances
3. Further assurance (grantor will deliver any documents needed at no cost)
4. Quiet enjoyment
5. Warranty forever
Term
Adverse Possession
Definition
Open, hostile and notorious use of land
Term
An attorney would look for what with a title search?
Definition
Mortgages, easements, liens, rights-of-way, deed restricitons, encumberances, life estates
Term
Chain of Title
Definition
The chain of ownership over the years
Term
Abstract of Title
Definition
A history of the tittle with a full summary.
Term
Certificate of Title
Definition
Statement of opinion prepared by the attorney
Term
Click here for Chapters 3 & 4
Definition
Click here for Chapters 3 & 4
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