Real Estate Exam 1

Rights

Source of Property Rights

Interest

Estate

Fee Simple Absolute

Two rights always owned by the government

Possessory Estate

Non-possessory

Freehold

Non-freehold

Fixture

Trade fixture

Ownership

Posession

Tenancy in common

Joint Tenancy

Encumbrance

Marketable title

Easement

"Runs with the land"

Appurtenant Easements

Easements in gross

License

Lien

Security

Voluntary liens

Involuntary Liens

Restrictive covenants

Recording Statutes

Race statute

Notice Statute

Deed

Adverse possession

Eminent domain

Limited Partnership

Tenancy-In-Common

Economic base

Location Quotient

Zoning Regulations

Zoning ordinance

Nonconforming use

Variance

Plat