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Real property can be converted to personal property by a process called?
Severance
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What is personal property that has been converted to real property by being permanently affixed or attached to the land or building?
Fixture
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A lien that attaches to all property owned by a debtor is called?
General Lien
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What is a right, privilege, or interest which one party has in the land of another
Easement
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What is the illegal extension of a building or some other improvement beyond the land of one owner and into the land of another owner?
Encroachment
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What is the form of real estate ownership automatically provided by law when two or more people own real estate together?
Tenancy in common
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A trust set up to take effect once the trustor has died?
Testamentary Trust
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What is ownership of property for a specific period of time each year
Time-Share
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A method of land discription which identifies a parcel by specifying its shape and boundaries is called?
Metes and Bounds
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Personal property that has been converted to real property by being permanently affixed or attached to the land or building is known as a(n)?
Fixture
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A charge, claim, or liability that someone has on the title of someone else's property
Encumbrance
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A factory cannot obtain access to a road that can carry its new, large trucks. After unsuccessful negotiations, the owner was able to get access through an
Easement by Necessity
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A life tenant cannot do what with the property?
Leave it to their heirs
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When ownership is held entirely by one person this is known as
Severalty Ownership
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A man built a fence that is partially on his neighbor's property, this is an example of what?
Encroachment
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Principle Maridians run? and provide what?
North and South, and provide east and west direction
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The highest and best type of interest in real estate recognized by law?
Fee Simple- Gives all right of ownership and is inheritable
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