Actual possession refers to the physical control or occupancy of a property, distinct from legal ownership, where a person or entity exercises real custody or control over a property.
Adverse possession is a legal principle that allows a person who occupies land without permission to claim legal title to that land under certain conditions, including actual, open, notorious, exclusive, hostile, and continuous occupancy for a specified period.
A Bearer Instrument is a type of security that does not record the owner's name on the instrument itself, making it payable to whoever physically holds the instrument.
A Bill of Sale is a written instrument that serves as a legal document transferring ownership of personal property from a seller to a buyer. It is commonly used for transactions involving items such as furniture and portable appliances.
A disclaimer is a statement that rejects responsibility or renunciation of ownership concerning a specific matter. In real estate, disclaimers are commonly used in financial documents and ownership claims.
An equity kicker, also known simply as “kicker,” is a form of equity participation that lenders or investors can demand as part of a loan agreement. It provides the lender the right to share in the future success of the borrowing venture, typically in the form of a percentage of ownership or profits.
A good and marketable title refers to a title free from significant defects, claims, or liens, ensuring the property can be freely transferred without legal complications.
Interest in real estate can refer to both the cost associated with borrowing money to finance real estate transactions and the extent of ownership in a property.
Minority interest represents ownership or stake in an entity that is less than 50%. This type of interest does not grant controlling power but can offer significant financial interests or gains.
Participation refers to the sharing of ownership in a loan by two or more investors, enabling them to collectively pool resources and share the risks and rewards associated with the loan.
Possession in real estate refers to the holding, control, or custody of property for one’s use, either as the owner or as a person with another legal right to the property. Possession can vary based on the extent and legality of the occupier's claim or usage.
Real estate refers to land and anything attached to it, including buildings and other structures. It encompasses ownership, use, and transfer of physical property. Real estate business activities include accounting, appraisal, legal advising, brokerage, counseling, regulation, and financing.
Explaining the term 'severally' in the context of real estate transactions, which refers to individual or separate ownership or responsibility.
Tenancy refers to the right of possession of real property, which can relate to both ownership and occupancy. It includes various forms such as tenancy in common and joint tenancy.
A Title Abstract, or Abstract of Title, is a comprehensive summary of the history of a piece of real estate. It includes a chronological record of all historical transactions, liens, easements, encumbrances, and other activities affecting ownership rights.
