Escrow & Title
A Florida buyer purchases a home and later discovers that a survey reveals a fence encroaches 2 feet into the property from a neighbor's yard. This is called a(n):
AEasement
BEncroachment✓ Correct
CLicense
DBoundary dispute only
Explanation
An encroachment is an unauthorized intrusion of a structure or improvement from one property onto another. An encroaching fence from a neighbor's property is a physical encroachment that can affect title and may need to be addressed before closing.
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Key Terms to Know
Easement
A non-possessory right to use another person's land for a specific purpose.
Title InsuranceInsurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
DepreciationA reduction in the value of an improvement (building) over time due to physical deterioration, functional obsolescence, or external factors.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
State-Specific Concepts
DRE Regulation
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