Description Please respond to cynthia with 150 words Cynthia 9/5/2022 BRE-110 Walt Huber Chapter 3 & 4 Overview In Chapter three the topic is about Estates in Real Property. It goes over the types of estates there are, for example possessory estates, freehold estates, life estates, leasehold estates, and future interest estates. In Chapter four it goes over ownership of real property, the different types of tenancy, community property, and trusts. Key Concept from Chapter 3 The first key concept I learned is that a periodic tenancy is an estate from period to period. What this means is that the duration is not limited to a specific term (p. 85). The tenancy continues until the tenant gives notification that he wants to end the tenancy. Key Concept from Chapter 3 The second thing I learned is what a mechanics lien is and who is entitled to a mechanics lien. A mechanics lien is a hold against your property, filed by an unpaid contractor, subcontractor, laborer, or material supplier and is recorded with the county recorder’s office (p 98). The mechanics lien is a right that California gives to workers and suppliers to record a lien to ensure payment. Key Concept from Chapter 4 The last concept I learned is about the different forms of co-ownership. When property is owned by one individual, he holds title in severalty (p. 117). In California when property is owned by more than one individual, they can hold title in one of five ways. A husband and wife can co-own property as tenancy in common, joint tenancy, community property, community property with right of survivorship, and tenancy in partnership (p. 138). Summary There were so many interesting topics covered throughout the two chapters. I learned about the advantages and disadvantages of joint tenancy along with the creation of easements. Another thing covered was about property taxes in California and the effects on property.
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