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.
The allodial system is a legal framework that grants individuals full property ownership rights. It is one of the foundational principles underlying property rights in the United States.
The American Land Title Association (ALTA) is a national trade association representing the interests of the land title industry, which includes title insurance agents, title insurance companies, abstracters, and real estate attorneys. ALTA provides support, education, and advocacy to its members, aiming to protect property owners by securing their property rights through industry standards and practices.
An appurtenance refers to anything adjacent or pertinent to a piece of property, enhancing its use and contributing to its greater enjoyment, such as easements, rights-of-way, or parking spaces.
The term 'assign' in real estate refers to the transfer of one's property rights or contract rights to another party. This can apply to leases, mortgages, deeds of trust, and other contractual agreements. It's important to note that assigning a contract does not typically relieve the initial party of their contractual obligations unless a novation, or the substitution of one party for another with the consent of all parties involved, occurs.
An assignor is a party who assigns or transfers an agreement or contract to another. This transfer effectively assigns rights or responsibilities from one party to another, creating a new contractual relationship.
An avigation easement is a property right granted typically near an airport, allowing for overflight and related ancillary activities such as the emission of noise and dust, the restriction or prohibition of certain activities, and the guarantee of unobstructed airspace.
Beneficial interest refers to the right to enjoy the benefits of ownership of a property or asset without necessarily holding the legal title. This can arise in various contexts, such as trusts, real estate investment trusts (REITs), and financial securities.
A condemnee is a property owner who is required to forfeit all or part of their property to the government or a governmental authority through the process of condemnation.
Constitutional rights in real estate refer to the guarantees provided by federal or state constitutions, such as the payment of just compensation to property owners in eminent domain proceedings.
A 'Covenant Running With The Land' is a legal stipulation imposed on property that binds current and future owners to adhere to specified restrictions or obligations. These covenants are usually included in property deeds and remain in effect even as the land changes ownership.
A Deed of Release is a document where one who has limited rights to a piece of real estate, such as a mortgagee or lienholder, abandons those rights back to the owner of the property. It often takes the form of a Quitclaim Deed.
Defeasance is a clause in a mortgage that gives the borrower the right to redeem the property after a default, typically by paying the full indebtedness and any additional fees incurred.
A dominant tenement refers to a parcel of land that benefits from an easement on an adjacent or nearby property, known as the servient tenement, allowing specific uses such as access or utilities.
Dower under common law refers to the legal right of a wife or child to part of a deceased husband's or father's property. This right ensures that the surviving spouse or child can claim a portion of the deceased individual's estate, regardless of the arrangements in the will.
An easement by necessity is a type of easement that allows the owner of a landlocked property to access a public road or other essential resources through a neighbor's land.
An easement by prescription is a type of easement that is acquired through continuous and open use of another's property for a specific duration, as defined by state law, without the property owner's permission.
An easement in gross is a type of easement that grants an individual or entity the right to use another person's land for a specific, limited purpose. This right is not tied to owning any parcel of property and usually terminates upon the grantee's death.
A negative easement is the right to prevent the owner of a property from using it for specific purposes. This is in contrast to an affirmative easement, which allows the holder to make use of the property for a specified purpose.
Egress refers to the right or means of a property owner to exit their land parcel and access a public road or other routes of escape. This is a critical aspect of property rights and accessibility.
Encroachment in real estate refers to any intrusion or overlap, such as a building or structure, onto another person's property. This can lead to disputes between property owners and may require legal intervention to resolve.
Equitable title is the interest held by a buyer who has agreed to purchase a property but has not yet completed the transaction. This interest grants the buyer certain rights even though the legal title has not been officially transferred.
An Estate for Life is a property interest that terminates upon the death of a specified individual. This estate type grants usage rights to the beneficiary during their lifetime, while ensuring the property will revert to another designated party upon the beneficiary's death.
Estovers refer to the legally supported right to take necessities such as wood for fuel or repair from property. This is particularly relevant in cases where a life tenant requires resources from the land to maintain their daily living needs.
Evidence of title refers to the legal documents that demonstrate ownership rights to a property. These documents are essential in confirming and asserting a person's or entity's legal property ownership.
The Federal Fair Housing Act is a federal law that prohibits discrimination in the rental, buying, or financing of homes and apartments on the basis of race, color, sex, religion, handicap, familial status, or national origin.
The Federal Fair Housing Law, part of the Civil Rights Act of 1968, is a measure aimed to ensure equal housing opportunities by prohibiting discrimination based on race, color, religion, sex, national origin, familial status, or disability.
Fee Simple or Fee Simple Absolute refers to the absolute ownership of real property where the owner is entitled to the entire property with unconditional power of disposition during the owner's life, and upon their death, the property descends to the owner's designated heirs.
Forfeiture refers to the loss of money or anything else of value because of failure to perform under a contract. It often occurs in legal and real estate contexts, where breaching a contract can result in the forfeiting party losing their rights to certain property or assets.
Freehold refers to an interest in real estate without a predetermined time span, giving the holder indefinite ownership and rights to the property.
A property right or estate that is anticipated to be enjoyed at a later time.
Heirs and Assigns is a term often found in deeds and wills, used to grant a fee simple estate, indicating the intention that the recipient and their successors have full rights to the property.
A hidden defect in real estate refers to any title defect that is not apparent from an examination of public records. These defects can significantly impact the rights of property ownership.
Horizontal Property Laws are state statutes that enable condominium ownership of property, adjusting traditional property laws to allow for individual ownership of units within a building while maintaining shared interest in common elements.
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.
A global organization dedicated to promoting private property rights and fostering international real estate investment and development.
Interpleader is a legal proceeding initiated by a neutral third party to resolve disputes between rival claimants over a particular property or transaction.
Inverse condemnation is a legal procedure used to obtain compensation when a property interest has been taken or diminished in value by a government activity. It compels the government to pay the owner for such interference.
Involuntary Conversion Condemnation occurs when private property is taken for public use without the owner's consent, often through eminent domain or sudden destruction by nature. This process leads to the conversion of private property into a public asset or adaptation.
Just Compensation refers to the amount of money paid to a property owner when their property is legally taken by the government under the power of eminent domain. The payment is intended to be equivalent to the Fair Market Value of the property taken.
A landmark U.S. Supreme Court case that defined the parameters for the government's use of eminent domain to transfer land from one private owner to another for economic development.
A lien waiver is a document from a contractor, subcontractor, materials supplier, or other party to the construction project, stating they have received payment and waive any future lien rights to the property for the amount received.
States whose laws give a lien on property to secure debt. This is contrasted with title-theory states where the lender holds the title. In lien-theory states, borrowers have the right to use and enjoy the property unless they default, at which point lenders may foreclose.
A lienholder is an individual or entity that holds a lien on a property, thus having a legal right or claim against the property as a security for a debt or obligation.
A life tenant is an individual who holds the right to use, occupy, and control a property for the duration of their own life or the lifetime of another specified individual.
Lucas v. South Carolina Coastal Council is a landmark U.S. Supreme Court decision that established a 'total taking' test to determine whether a government regulatory action constitutes a taking that requires compensation under eminent domain.
A Mineral Lease is an agreement that grants the lessee the right to excavate and sell minerals or remove and sell petroleum and natural gas from the lessor's property in return for royalty payments.
A landmark 5–4 Supreme Court decision in 2005 affirming the constitutionality of a condemnation of land for the economic development of the town. The case, known as Kelo v. City of New London, sparked significant changes in eminent domain laws across various states.
Notorious Possession is the open, obvious, and well-known occupation or use of property, which one of the criteria required for establishing adverse possession. This kind of possession is typically one where the possessor's use of the property is visible to onlookers and could be perceived by neighbors and passersby as ownership of the property.
The term 'Owner of Record' refers to the person or entity listed in public records as the legal owner of a property. While the owner of record is the recognized owner in official documents, beneficial ownership may differ.
Ownership in severalty, also known as tenancy in severalty, is a form of real estate ownership where a single entity holds sole title to a property. This arrangement provides the owner with exclusive rights and control over the property, without interference from others.
Partial taking refers to the acquisition by condemnation of only a portion of a property or specific property rights, rather than the entire property.
A Party Wall is a wall built along the line separating two properties, partly on each parcel. Either owner has the right to use the wall and has an easement over that part of the adjoining owner’s land covered by the wall.
Police power is the inherent authority of a governmental body to enact and enforce regulations to ensure the order, safety, health, morals, and general welfare of the public.
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.
Prescription is the process by which certain rights are acquired through long-term, continuous, and open use of a property, particularly in cases of adverse possession. This legal doctrine allows an individual to gain a right or an easement after meeting specific statutory requirements.
Pur Autre Vie refers to a life estate in property held by one person (the grantee), but measured by the life of another person (the cestui que vie). This property interest is often used in specific legal, financial, and estate planning contexts.
Restraints on alienation refer to conditions placed on property ownership that limit the owner's ability to transfer or sell the property. Such restraints are generally scrutinized under laws governing property rights and public policy considerations.
A restrictive covenant is a binding legal obligation written into the deed of a property by the seller that restricts the way the property can be used by the buyer. It usually aims to uphold specific standards or maintain the character of a community.
The right of redemption is a legal provision allowing a mortgagor to reclaim their property once they've satisfied debts before foreclosure is completed, thereby preventing loss of property ownership.
The right-of-way is a legal right granting passage over another person's property. This term is often associated with easements and is crucial in the context of property development, infrastructure projects, and urban planning.
The right-of-way (R/W) in real estate terms refers to the legal right, established by usage or grant, to pass along a specific route through grounds or property belonging to another.
A riparian owner is an individual or entity that holds ownership of land that is adjacent to a river, stream, or other body of water. Riparian rights are often a significant aspect of property ownership and can influence land use, access, and water resources.
Riparian rights pertain to the use of water on, under, or adjacent to one's land. These rights may be qualified to avoid nuisance and pollution and are typically recognized in most eastern states, unlike in western regions, which often acknowledge usufructuary rights.
Run with the Land is a legal term referring to rights or restrictions that extend to all current and future owners of a piece of property. These rights or restrictions are usually referenced in the property's deed.
In community property states, separate property refers to property acquired by either spouse prior to marriage or by gift or devise after marriage, as distinct from community property.
In real estate law, a servient tenement refers to a property that bears the burden of an easement. Essentially, it is the land over which an easement exists and through which another property, known as the dominant tenement, benefits.
Severalty refers to the ownership of real property by an individual as an individual, granting exclusive property rights without partners or co-owners.
A squatter is an individual who occupies and lives on property without legal title, right, or payment to the property owner. This person takes up residency without the owner's consent, often living on abandoned or unoccupied land or structures.
A squatter is an individual who occupies a property without the permission or legal authority of the owner. Over time, under certain conditions, squatters may claim legal rights to the property through adverse possession.
A stakeholder in real estate is an individual or group that has an interest or can be affected by decisions regarding land or property usage. This term is often used to justify government regulations that affect private property rights.
A subordinated ground lease is a lease agreement wherein the mortgage on the property holds priority over the ground lease. This structure can affect the leaseholder's rights, particularly in cases of foreclosure.
Survivorship is the right of a joint tenant or tenants to maintain ownership rights following the death of another joint tenant, preventing heirs of the deceased from making claims against the property.
Tacking, in the context of real estate, refers to the process of adding successive periods of possession together to establish a continuous period required for a claim of adverse possession.
Tenancy at will is an arrangement where a tenant occupies a property with the specific permission of the landlord but without a lease, lasting as long as both parties agree.
A Title Opinion is a professional judgment provided by an attorney or a title company attorney concerning the validity of an owner’s rights to a property, following a comprehensive title search.
Trespass refers to the unlawful entry or possession of someone's property without permission. It can involve physical intrusion or unlawful occupation, thereby infringing on the possessor's rights.
Undivided interest refers to a form of property co-ownership where each owner has a share of the whole property without having exclusive rights to any specific part of it.
Vesting is the process through which an individual earns the right to assets or benefits, usually over a specified period and under clearly defined conditions.
A Writ of Ejectment is a legal order issued by a court to repossess property from someone who is occupying it unlawfully. This document empowers law enforcement to remove said occupant and restore possession to the rightful owner.
