An Administrator's Deed is a legal document used to convey the property of a deceased person who died without a will, a situation known as intestacy.
A method of acquiring legal title to land through actual, continuous, open occupancy of the property for a prescribed period, under claim of right, opposed to the rights of the true owner.
The allodial system is a legal framework granting full property ownership rights to individuals, forming the foundation for property rights in the United States.
An attractive nuisance is a legal concept in the context of property law. It refers to a hazard on a property that is inherently dangerous and particularly alluring to children, causing the property owner to assume liability for any accidents that occur as a result.
The Before-and-After Rule in eminent domain is a practice wherein the property value is appraised both before and after the taking, considering any enhancement or injury resulting from the condemnation.
The Bundle-of-Rights Theory in real estate law postulates that ownership of realty encompasses a collection of distinct rights that include occupancy, use and enjoyment, and the ability to sell, devise, gift, or lease these rights.
A warning, often written to a potential buyer, advising them to be cautious; it is commonly used to minimize liability for potentially deceptive trade practices by a seller or broker.
A Certified General Appraiser is a professional authorized to appraise any type of property under the appraiser certification laws adopted by most states in the early 1990s.
A form of real estate ownership where individual residents hold a deed and title to their houses or apartments and share maintenance costs for common areas managed by a dedicated company.
Constructive eviction occurs when, through the fault of the landlord, physical conditions of the property render it unfit for the purpose for which it was leased.
A legal document transferring the title of property from its owner to a trustee, who holds it as security for a performance of obligations by the owner or a third party.
A deed restriction is a clause in a deed that limits the use or the disposition of real estate property. These restrictions can dictate various uses and modifications of land or property ownership transfers and are legally binding.
A defective title refers to an ownership right or claim on property, particularly real estate or negotiable instruments, that is legally flawed or encumbered in a manner that diminishes its marketability or validity.
Dispossess Proceedings, also known as eviction, are a legal process used by landlords to remove tenants and regain possession of property.
Encroachment is the act of gradually intruding upon the rights or property of another, which includes any infringement on the property or authority of others.
An encumbrance is any right to, interest in, or legal liability upon real property that doesn't prohibit passing title to the land but diminishes its value. Encumbrances include easements, licenses, leases, timber privileges, homestead privileges, mortgages, and judgment liens.
The Equity of Redemption is a legal right of mortgagors to reclaim their property after defaulting, by settling the entire mortgage debt including costs and interest before foreclosure occurs.
Estovers refer to the right of a tenant or life tenant to use timber on the leased premises for proper maintenance of the property.
Eviction refers to the removal of a tenant from rental property by the landlord through legal processes, usually due to the tenant's failure to comply with the lease agreement or maintain rent payments.
Fair Housing Law is a federal law that prohibits discrimination on the grounds of race, color, sex, religion, handicap, familial status, or national origin in the selling or renting of homes and apartments.
The term 'heirs and assigns' is often found in deeds and wills and is used to grant a fee simple estate, indicating that the property being transferred is granted to the heirs and designated assigns of the recipient.
In rem is a legal term referring to actions or proceedings directed towards property, or 'the thing', rather than towards a specific person. The objective of an in rem proceeding is to resolve matters involving property rights without addressing the personal liability of individuals.
An insurable title is a title to real estate that a title insurance company agrees to insure, signifying it is free from significant defects that could result in financial losses to the owner or lender.
Inverse condemnation is a legal procedure where property owners seek compensation for property interests that have been diminished in value or taken due to government activity.
Involuntary conversion refers to the forced disposition of property, where the property owner is reimbursed for the property taken or destroyed.
Involuntary exchange occurs when property is destroyed, stolen, condemned, or disposed of under the threat of condemnation, and the owner receives money or other property as compensation.
A judgment lien is a claim upon the property of a debtor resulting from a court judgment, granting the creditor a legal right to seek the debtor's assets as compensation for unpaid dues.
A latent defect is a defect that is hidden from knowledge as well as from sight and one that would not be discovered even by the exercise of ordinary and reasonable care. One who sells a house with knowledge of a latent defect must disclose the defect to the buyer or the buyer may later claim misrepresentation.
A collection of rights of ownership that are defined or recognized by law or that could be successfully defended in a court of law.
A life tenant is an individual who has the right to use and occupy property for the duration of their life or the life of another designated person.
A legal notice indicating that there is a pending lawsuit involving the property or its title, which serves to alert potential buyers or encumbrancers of the legal claim. The term means 'suit pending.'
A mortgage lien is an encumbrance on property used to secure a loan. The lien holder has a claim to the property in the event of a loan default.
Muniments of title are documents, such as deeds or contracts, used to indicate ownership of property. These legal instruments play a crucial role in securing rights and proving ownership.
A listing agreement in which the real estate broker's commission is based on the amount by which the selling price of the property exceeds a specified (net) price set by the seller. This type of listing arrangement can be considered unethical or illegal in some states due to the potential for conflicts of interest.
A legal document issued to inform a tenant or landlord of the intention to vacate a rented property. The notice can be initiated by either party, detailing the date by which the property must be vacated.
Open housing refers to the condition under which housing units may be purchased or leased without regard for such factors as the ethnic or religious characteristics of the buyers or tenants, ensuring equal housing opportunities for all.
Police power refers to the inherent power of governments to impose restrictions on private rights that are reasonably related to the promotion and maintenance of the health, safety, morals, and general welfare of the public.
Preexisting use refers to a land use that does not conform to the current zoning code but is allowed to continue because the use was in effect at the time the current code was passed. Also known as nonconforming use, this status typically comes with specific conditions on improvements and rebuilding of the existing structures.
Pur Autre Vie is an estate in property that a grantor gives to a life tenant, who holds it only for the duration of a third person's life.
A quiet title suit is a legal action designed to resolve disputes over ownership of a piece of property. It helps to officially establish who owns a property and eliminate any false claims to the title.
A real estate transaction entails a sale or exchange of reportable real estate for money, indebtedness, or property other than money or services, regardless of whether the transaction is currently taxable.
The redemption period is the duration during which a former owner can reclaim foreclosed property or property posted for foreclosure.
In a condemnation proceeding, relocation benefits are payments that the government must make to any occupant who is forced to move to a new location because the taking will not allow that occupant to continue to utilize the property. These benefits are not limited to property owners; tenants and other non-owner occupants are equally entitled to such compensation.
A restrictive covenant is a clause, which can either restrict the freedom of an individual or entity in a business agreement or affect the usage of land, thereby setting specific limitations and obligations.
Reversion in real estate law refers to the future interest that the grantor retains when they transfer property rights to another party but stipulate that the property will return to them upon the occurrence of a specific event or the expiration of a certain term.
Self-help refers to efforts by a landlord to remedy a tenant’s default on the lease without resorting to legal proceedings. This method is highly controversial and generally not supported by legal frameworks in most states.
Severance damages represent compensation awarded to property owners when a portion of their property is condemned and taken for public use. These damages account for the depreciation in value or inconvenience caused to the remaining property.
Spot zoning involves rezoning a parcel of land where all surrounding parcels are zoned for a different use, creating a use that is often incompatible with its surroundings. This type of zoning change is usually disallowed by courts.
Statutory Foreclosure, also known as non-judicial foreclosure, is a legal process by which a lender can foreclose on a property without court intervention, authorized by state statutes.
Surrender is the cancellation of a lease agreement by mutual consent of both the lessor (property owner) and the lessee (tenant), effectively ending their contractual lease obligations.
Survivorship refers to the legal right of a joint tenant or tenants to obtain ownership rights following the death of another joint tenant. It prevents heirs of the deceased from making ownership claims against the property.
The acquisition of private property for public use under the power of eminent domain and the restrictions under police power that may preclude reasonable use of the property.
Tenancy refers to the right of possession or occupancy of real property, either through lease or title. It encompasses various forms of holding property, including landlord-tenant relationships and co-ownership arrangements.
Tenancy by the entirety is a form of joint property ownership available only to married couples, featuring equal rights of possession and enjoyment along with the right of survivorship, meaning the property automatically passes to the surviving spouse upon the death of the other.
