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Unit 5 Flashcards Encroachments are easily discoverable by physical inspection of the property or by performing a survey.An owner of a condominium in Manhattan is also owns a cabin on three acres in the Catskills, where she keeps a boat, and a house in Florida. If one of her creditors sues her in Manhattan and obtains a judgement, that judgement may be recorded as a lien against the apartment, cabin, and boat.To establish an easement by prescription in New York, a person must use another's property openly and notoriously for an uninterrupted period of 10 years.Which of the following BEST describes the expression "use the rights or lose the rights"?Laches The lien with first claim against any parcel of real estate in NYS is unpaid property tax.Which lien usually would be given highest priority?Unpaid real estate tax A buyer purchases a summer cottage that has an unpaid mechanic's lien recorded against it. The lien was previously placed by the workman who was not paid by the former owner for constructing a dock. The lien now remains as a claim against the property.A shared driveway agreement will probably take the form ofan easement appurtenant.A financial claim or charge against the property of another that provides security for a debt or obligation of the property owner is a lien.Unless an action of foreclosure on a contractor's mechanic's lien commences, his mechanic's lien will remain against the property at LEAST one year.A contractor remains unpaid for roofing a ranch home. How long does he have in order to file a valid and enforceable mechanic's lien?Four months Which of the following acts as an encumbrance? An easement, lien on a property, and property leased to a tenant When a patient failed to pay fir her orthopedic surgery, the doctor obtained a money judgment which, upon docketing, becomes a lien against the patient's real and personal property, which would include the patient's vacant land, home, and Tiffany chandelier.The farmer who allowed promoters to run Woodstock Festival on his land MOST likely granted them a license Which is considered a lien on real estate? An unpaid mortgage loan.Deed restrictions are created by aseller.A property owner has just made her last mortgage payment. She is so thrilled about the event she decides to throw a mortgage burning party. However, which of the
following legal acts will release the mortgage lien from the public records?Recording a satisfaction of lien.A neighboring property owner Y builds a permanent structure that crosses over the property line of neighbor Z.
After 11 years, neighbor Z performs a survey and discovers that the structure is partially built on Z's land. Z immediately informs Y of this issue and requires that Y remove the structure from Z's land. Which BEST describes this situation?Y can file a lawsuit for adverse possession against Z
An instrument that provides for a right of use agreement and is terminable at the will of the issuer is BEST described by which of the following?A license
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