Term
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Definition
| Covenants, conditions, and restrictions. Private encumbrances that limit the way a property owner can use a property. |
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Term
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Definition
| Claim on a property as either security for a debt or fulfillment of some monetary charge or obligation. |
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Term
| Specific Lien (Also name the two types) |
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Definition
Lien is specific to the property and placed to secure debt associated with the property.
Two types are mortgage liens and machanic's lien. |
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Term
| General Lien (Name 2 examples) |
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Definition
| Examples are tax lien or judgment lien placed on all property that might belong to an individual, including any real estate. |
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Term
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Definition
Right given to one party by a landowner to use the land in a specified manner.
Two types are Easement Appurtenant (which creates a dominant estate and an servient estate - Both estates can be simultaneously dominant and servient like in the example of sharing the driveway) and Easement in gross (utilities). |
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Term
| Express Grant or Express Reservation (Easements) |
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Definition
| Remember the front and back (landlocked) lots. The owner owns all and then sells the back portion. He does express grant to offer passage to new back owner. If he sells the front, he does express reservation to reserve the right to use the easement to access his land in back. |
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