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CHAPTER 5

ENCUMBRANCES & LIENS

QuestionAnswer
ENCUMBRANCES: What are these?
Type of interest:
Easement appurtenant
Dominant tenement's
Servient tenement
easement by necessity
landlocked owners
party wall:
negative easement in shared structure
Easement in gross
personal:
not revocable
ends on death of _
commercial: granted to
How are easements created?
voluntary grant
decree by necessity or prescription
eminent domain
prescription
adverse use or
How are easements terminated?
release
merger
abandonment
condemnation _
change of purpose
destruction
non-use property by deed or subdivision plat
claims attaching to real and personal property as security for debt .
TYPES of LIENS
voluntary or involuntary
general
specific
superior
junior
Lien priority
Determines who gets paid first if lienee
Superior liens vs junior liens; not ranked
taxes
liens
taxes
Junior liens -- ranked by
judgment
mortgage
vendor's_
utility,
mechanic's
other tax liens_
mechanic's lien priority "_______ ________" to when work or sale was done or when it _____________________.
FORECLOSURE --- the enforcement of _______________ through _________________ or transfer of _________________ property
Mortgage lien foreclosure -- _______________ or transfer of _____________ property by __________________, ________________, ________________________________________________.
Judicial foreclosure -- ____________________ public sale; deficiency judgments or redemption rights
Non-judicial foreclosure "power of sale" ________________________; there is no _________; no __________________ judgment; no ___________________ period after sale .
S______________ foreclosure -- court orders _____________ ______________ of ____________ directly to lender without public sale
__________ -_____ _______ of foreclosure --- _________________borrower _______________ property to lender to avoid foreclosure .
_______________________ into adjoining property; can become easements
LICENSES : ___________________ ___________________ to use a property; do not ______________; CANNOT ________________; ___________________________
Created by: Mz Jade