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Chapter 8 Quiz

Terms in this set (19)

A lien is an exampie or an....?
Encumbrance
Deed restrictions may forbid homeowners businesses. This can protect the neighborhood from...?
All of these
If a property owner doesn't pay income taxes, what type of lien
might be filed against the taxpayer's home or business?
Tax lien
Deed restrictions can be created by...?
All of these
When two property owners join together to create a written
agreement transferring an easement to another party, what is the
easement called?
An easement by grant
Who's responsibility is it to disclose
any potential Virginia Mechanic's Liens, and how should they do it?
It is the seller's responsibility to provide the buyer with an
affidavit that any work related to the property from the last 120
days has been paid for in full.
What type of lien means that the lien is attached to a piece of real estate?
Specific Lien
What does the lienholder have when a lien is filed?
A claim to a portion of the property's value
The word that describes the legal preference for how liens will be
handled when the property is sold is called:
priority
Which would be the most likely lien holder of a Virginia Mechanic's
Lien?
A building contractor
Which of the following could file a mechanic's lien?
All of these.
If a property owner who just decided to live with a neighbor's encroachment later decides to sell their house, they must...?
Fully disclose the encroachment to potential buyers.
An easement can be described as...?
A right, privilege or interest in real property owned by someone else
Deed restrictions can be identified by...?
Conducting a title search
Bill built a new deck that extends over his neighbor's lawn. Bill did
not know that he was crossing the property line when he built the
deck. Is this an encroachment?
Yes. It does not matter whether or not the encroachment was intentional.
When a new property owner acquires land subject to
easement, they will also acquire the rights or limitations
of that easement. The phrase that describes this best is:
Easements...?
Run with the land
A lien that is not tied to a specific piece of real estate is
called a...?
General lien
The type of easement that gives permission to physically
cross a piece of real property is called...?
Affirmative Easement
The property that is subject to an easement appurtenant is called the
Serviente estate
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