The voluntary act of receiving something or agreeing to certain terms in various contexts such as banking, contract law, and real property law.
In real property law, alienation refers to the voluntary transfer of title and possession of real property to another person. This concept is an essential aspect of fee-simple ownership, ensuring the owner's right to dispose of their property, while generally prohibiting unreasonable restraints on alienation.
In real property law, 'convey' refers to the transfer of property from one party to another through a written instrument and other necessary formalities.
A Nonmerchantable Title, also known as a dysfunctional or defective title, refers to a property title with significant defects or encumbrances that prevent its clear transfer from one owner to another. These defects can significantly lower the property's market value and complicate transactions.
