Real 200 Exam 1 Set Question & Answers | Passed Latest Update

Leasehold Rights Definition {Ans: Doesn't own but has the right to use}Lien {Ans: interest in property as security for an obligation (usually a debt)}Kelo v New London {Ans: Pfizer was trying to obtain many houses with eminent domain to build new corporate buildings but lady in the neighborhood wasn't budging about it so case went to supreme court and lady lost}Periodic Tenancy {Ans: automatically renews unless terminated (month to month)}Dominant parcel {Ans: property that benefits from easement}Plat lot and block number {Ans: most urban property uses this form of land description and is the preferred choice}