A
Abandonment - The surrender, relinquishment,
disclaimer, or cession of property or of rights to property.
Abatement - To put an end to.
Ab Initio - From the beginning.
Ab Initio Mundi - From the beginning of the world.
Abstract - A brief summary.
Abstract of Judgment - A brief transcript of the
essentials of a judgment.
Abstract of Title - A summary of the conveyances,
transfers and other facts appearing of record and relied upon as
evidence of title to real property.
Abutting - Touching or bordering a street, highway, or
other public place.
Acceleration Clause - A clause in a note, trust deed,
or mortgage advancing or hastening the date of maturity of the
indebtedness or obligation upon the happening of a certain
event.
Access Right - A landowner's right to have ingress to
and egress from the property to a public street.
Accession - Addition to property by natural increase
or growth or by installation of improvements.
Accommodation - An obligation assumed without
consideration.
Accommodation Party - A person who signs a promissory
note without receiving value.
Accommodation Recording - The recordation of an
instrument without consideration and without assumption of
responsibility for correctness or validity.
Accretion - A process by which land on a shore or
riverbank increases gradually by the deposit of sand or soil
upon the shore or riverbank.
Accrual - The growing or adding to.
Acknowledgment - A formal declaration before a duly
authorized officer by a person who has executed an instrument
that such execution is his or her act and deed.
Action - An ordinary proceeding in a court of justice
by which one party prosecutes another for the enforcement or
protection of a right; the redress or prevention of a wrong; or,
the punishment of a public offense.
Action in Personam - An action in which judgment is
sought against a person.
Action in Rem - An action in which judgment is sought
against property to determine its status.
Actual Notice - Notice in fact or in reality to or by
a party directly and personally.
Ad - At; to; before; near; for; of; until; within.
Ad Curiam - Before the court; to the court.
Ad Litem - During the pendency of the action or
proceeding.
Ad Valorem - According to value.
Adjoining Owners - Owners of two or more parcels of
real property that are contiguous to each other.
Adjudication - A judicial determination.
Administrator - Personal representative of the estate
of an intestate decedent.
Administratrix - A woman administrator.
Administrator C.T.A. - An administrator with will
annexed. The letters C.T.A. mean "cum testa-mento annexo" and
are derived from Latin. If administration is granted but the
decedent has made an incomplete will without naming executor(s)
or if decedent names incapable persons or if executor(s) refuses
to act, the administrator is an 'Administrator C.T.A.'
Advances - Money paid before proper time of payment.
Adverse Possession - Claim of ownership of property
based upon open and hostile possession and occupancy.
Affiant - A person who has made an affidavit.
Affidavit - A written declaration under oath.
Affirmation - A declaration in writing under penalty
of perjury.
After-Acquired Title - Title accepted by a grantor
after his or her previous conveyance.
Agency - A relationship between two or more persons
whereby one is authorized to act for another.
Agreement of Sale - An agreement entered into for the
sale and purchase of property.
AKA - Also Known As
Alcalde - Spanish for mayor or chief magistrate.
Alienate - To transfer title to property.
Alienation - The transfer of title to property.
Alienation Clause - Provision in a note or in a
security instrument calling for automatic maturity in the event
of sale or transfer of title by borrower.
Allegation - A statement of fact in a pleading yet to
be proved.
All-Inclusive Deed of Trust - A deed of trust securing
payment of an obligation owing under a prior deed of trust.
Aliter - Otherwise.
Alluvion - Soil deposited by the process of accretion.
A.L.T.A. - American Land Title Association.
Amortization - Payment of principal and interest at
stated periods for a stated time until debt is extinguished.
Ancillary - An addition to.
Ancillary Administration - Probate estate
administration in a state other than the state of decedent's
domicile.
Annexation - Addition to property or to territory.
Annuity - A yearly payment of money for life or for a
term of years.
Annum - Year.
Ante - Before.
Antenuptial - Before marriage.
A Priori - From the past. From what goes before. Used
in legal writing to indicate a cause and effect relationship.
Appearance - Presence of a party litigant before the
court.
Appraisal - Statement of value.
Appraiser - A person qualified to determine property
value.
Appurtenance - Anything incidental to or belonging to
land considered a part of the real property.
Appurtenant - Belonging to.
Arbitrary (ARB) Map - A map made by a title company
for its own convenience in identifying parcels of real property.
Assessed Value - Value of property for taxation
purposes.
Assessments - Special taxes imposed to pay for public
improvements beneficial to a limited area.
Assessor - County official who determines value of
property for taxation purposes.
Assets - Property of value, property having an
economic benefit.
Assign - To transfer all of an interest in personal
property.
Assignee - One to whom property is assigned.
Assignor - One who transfers property by assignment.
Assumpsit - An undertaking to do an act or to make
payment.
Assumption Agreement - An agreement to undertake a
debt or obligation contracted by another.
Assumption Fee - The charge made by a lender when a
buyer assumes seller's existing loan.
Assumption of Mortgage - An agreement in which buyer
agrees to be liable for payment of an existing note secured by a
mortgage or deed of trust.
Attachment - A judicial process by which a creditor
obtains a lien upon property of a debtor prior to adjudication
of the debt.
Attestation Clause - The clause in a deed denoting the
subscribing persons are witnesses.
Attorn - To accept and acknowledge a new landlord.
Attorney-In-Fact - An agent authorized to act for
another.
Avulsion - Sudden tearing away of land by violent
action of a river or other watercourse.
Ayuntamiento - Spanish for town council.
B
Balloon Payment - Final installment
payment of a promissory note larger than any single
preceding installment payment.
Bankruptcy - A proceeding in U.S.
Bankruptcy Court wherein assets of a debtor (unable
or unwilling to pay debts) are applied by an officer
of the court in satisfaction of creditor claims.
Base Lines - Imaginary east-west lines
that intersect meridians to form a starting point
for measurement of land.
Bench Mark - Location indicated on a
durable marker by a land surveyor.
Beneficiary - One for whose benefit a
trust is created. A lender secured by a deed of
trust.
Beneficiary's Demand - Payment required by
a beneficiary under a deed of trust before
authorizing recon-veyance.
Beneficiary's Statement - Statement of a
beneficiary under a deed of trust as to principal
balance due on a promissory note and other
information concerning the loan.
Benevolent Associations - Voluntary
non-profit aggregations organized for the benefit of
members.
Betterment - Substantial improvement to
real property.
Bequeath - To give personal property by
will.
Binder - Written agreement to issue,
within a specified time, a policy of title
insurance. Contract to insure.
Blanket Mortgage or Deed of Trust - A
mortgage or deed of trust on more than one lot or
parcel.
Blue Sky Law - A law (generally of a
state) protecting the public from investing in
fraudulent companies. Usually requires full
disclosure of risks associated with investment
before the investment entity puts investor's monies
at risk.
Bona Fide - In good faith.
Bona Fide Purchaser - A purchaser in good
faith, for fair value and without notice of any
adverse claim or right of third parties.
Bond - A written undertaking to pay a
certain sum of money.
Bonded Debt - An indebtedness secured by a
bond issue.
Building Contract - Agreement for the
construction of a proposed structure.
Building Lines - Lines established by
ordinance or by statute beyond which building is not
permitted.
By-Law - A rule adopted for the internal
government of a corporation or unincorporated
association.
C
C.C. - Civil Code.
CC&Rs - Covenants, Conditions
& Restrictions -- detailed limitations
applying to the use or enjoyment of real
property.
C.C.P. - Code of Civil
Procedure.
c.t.a. - With will annexed.
Capita - Heads; persons.
Caption - The heading of a
title or document.
Cause - An action or a suit.
Caveat - Let him/her beware.
Caveat Emptor - Let the buyer
beware.
Certificate of Sale - Evidence
of a purchaser's acquisition of legal
title at a judicial sale, subject to
redemption rights, if any.
Certificate of Title -
Certified statement as to land ownership
based upon examination of record title.
Certiorari - A writ from a
higher court to a lower court directing
the forwarding of a certified record of
a proceeding up for review.
Cestui Que Trust - The person
for whose benefit property is held in
trust.
Cestui Que Use - The person
for whose use land was granted to
another.
Cestui Que Vie - The person
for the duration of whose lifetime an
estate has been granted.
Chain of Title - A
chronological list of documents
comprising the record history of title
to a specific parcel of real property.
Change of Venue - The removal
of a cause for trial from one county to
another.
Charter City - Generally, a
city organized under a charter.
Chattel - An item or article
of personal property.
Chattel Mortgage - Obsolete
name for mortgage of personal property.
Chattel Real - An interest in
real estate which is of a lessor degree
than a freehold estate. For example, an
estate at sufferance.
Chose in Action - A personal
right not reduced to possession but
recoverable by an action at law.
Civil Law - Law of the Roman
Empire, it is distinguished from the
Common Law of England.
Class Action - A lawsuit in
which plaintiff represents himself or
herself and all other persons similarly
situated.
Clearing House - An office
where bankers daily settle the balance
of their accounts with each other.
Cloud on Title - A semblance
or claim of title that is in fact
invalid.
Co-Administrator - One of two
or more administrators.
Code - A collection of laws.
Codicil - A testamentary
disposition subsequent to a will
altering, explaining, adding to,
subtracting from, or confirming it, but
not revoking it.
Co-Executor - One of two or
more executors.
Co-Insurance - Insurance
issued by two or more insurers.
Collateral - Property pledged
as security for a debt; also, indirect,
when referenced to blood relationship as
in 'collateral heirs'.
Collateral Assignment -
Transfer of an interest in personal
property for security purposes. A
collateral assignment is distinguished
from an absolute assignment mainly
because once the debt is paid that was
secured by the collateral assignment,
the assignment is extinguished.
Color of Title - That giving
the appearance of title.
Commercial Acre - The portion
of an acre of subdivided land remaining
after deducting areas devoted to
streets, sidewalks, etc.
Commissioner's Deed - Deed
executed by a court appointed person in
consummation of a sale ordered by the
court.
Commitment - A pledge,
promise, or firm agreement; also, a
title insurer's contractual obligation
to insure title to real property.
Common Law - The unwritten
body of English law founded upon customs
and precedents.
Community Property - Property
acquired by a husband and wife, or
either, during marriage, when not
acquired as the separate property of
either.
Competent - Legally qualified,
capable of contracting.
Composition - Agreement
between a debtor and creditors whereby
the latter mutually agree to accept a
certain percentage less than is due each
one.
Conclusive Presumption - Legal
inference that cannot be contradicted.
Condemnation - The taking of
private property for a public use. The
exercise of power of eminent domain.
Condemnation Guarantee - An
evidence of title issued to a
governmental agency naming persons to be
made defendants in an action in eminent
domain.
Condition - A qualification or
restriction annexed to a conveyance of
lands, whereby it is provided that upon
the happening of a particular event an
estate shall commence, be enlarged, or
be defeated.
Condition Precedent - A
condition that must be fulfilled before
a right accrues or an estate vests.
Condition Subsequent - A
condition that defeats a previously
accrued right or vested estate.
Conditional Sale Contract -
Contract of sale where title remains in
seller until all conditions of the
contract have been fulfilled.
Condominium - The composite of
individual ownership and exclusive
possession of a cube of space in a
multi-unit building plus a collective
ownership of and a collective right of
possession to facilities common to all
separately owned units.
Confession of Judgment - Entry
of judgment without formality of
proceedings upon debtor's admission and
with debtor's consent.
Confirmation of Sale - Court
approval of sale by a personal
representative, guardian, or
conservator.
Congressional Grant - A grant
of public land of the United States by
an act of Congress.
Conservatee - A person unable
to manage self, property, or self and
property and for whom the probate court
has appointed a conservator.
Conservator - A person
appointed by probate court to take care
of the person, property, or person and
property of conservatee.
Consideration - The value
inducing another person to enter into a
contract.
Constituent Corporation - A
corporation merged or consolidated with
one or more other corporations.
Constructive - Inferred or
implied.
Constructive Notice - Notice
given by public records.
Constructive Trust - Trust
imposed by law to redress a wrong or to
prevent unjust enrichment.
Contiguous - In actual close
contact; touching, adjacent, near.
Contingent - Dependent upon an
uncertain future event.
Contingent Beneficiary - A
person who may share in an estate or
trust depending upon the happening of an
event.
Contingent Interest - An
interest which may vest depending upon
the happening of an event.
Contour - Surface
configuration of land.
Contract - An agreement
between two or more parties to do, or
not to do a particular act.
Contract of Sale - An
agreement entered into for the sale and
purchase of property.
Convey - To transfer title to
property from one person to another.
Conveyance - A written
instrument transferring title to or an
interest in land.
Corporate Seal - A seal
attached to an instrument executed by a
corporation.
Corporation - An artificial
being created by law and endowed with
certain rights, privileges, and duties
of natural persons.
Corporation Sole - A
corporation consisting of a single
person and his/her successor in office.
Corporeal Hereditaments -
Substantial permanent objects which may
be inherited.
Corp. Code - Corporations
Code.
Corpus - Property comprising
the assets of a trust.
Cotenancy - Ownership by two
or more persons.
Co-Trustee - One of two or
more trustees.
Courses and Distances -
Description of land by metes and bounds.
Covenant - Agreement or
promise.
Curtesy - The common law
interest of a husband in estate of
deceased wife.
Custodia Legis - In the
custody of the law.
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D
Date Down - The date a title
examination is to be brought down to
from the date of the last examination.
Generally the date of recording of
instruments and documents in the
Recorder's Office.
d.b.n. - Abbreviation for de
bonis non administratis, De Bonis Non
Administratis. Of the goods not
administered. When an administrator is
appointed to succeed another, who has
left the estate partially unsettled, he
is said to be granted “administration de
bonis non;” that is, of the goods not
already administered. McNair v. Howle,
123 S.C. 252, 116 S.E. 279, 285.
d.d. - Abbreviation for "days
after date."
D.S. - Abbreviation for
"declaratory statement."
De - From; of; concerning.
Decedent - Deceased person.
Declaration of Homestead - A
formal, written, recorded assertion by
an owner that the dwelling in which he
or she resides is exempt from forced
sale.
Declaration of Trust - A
written instrument by a person (settlor-trustor),
acknowledging that he or she holds title
to property (as trustee) for the benefit
of another or others (beneficiary/
beneficiaries).
Decree - A judgment by court.
Decree of Distribution - A
judgment of probate court as to persons
entitled to the property of a decedent.
[Now referred to as 'Order for
Distribution']
Dedication - Donation of land
by owner for public use.
Deed - Written document
transferring title to land from one
person to another.
Deed In Lieu of Foreclosure -
The deed purchased by the mortgagee from
the mortgagor in lieu of the foreclosure
of the mortgagee's mortgage. The
mortgagor grants the title to the
property secured by the mortgage to the
mortgagee (lender) in lieu of lender
foreclosing the mortgage.
Deed of Sale - Evidence of a
purchaser's acquisition of legal title
at a judicial sale, subject to
redemption rights, if any.
Deed of Trust - A three party
security instrument conveying title to
land as security for the performance of
an obligation. Also called "trust deed."
De Facto - In fact.
Default - Omission or failure
to fulfill a duty, observe a promise,
discharge an obligation, or perform an
agreement.
Default Judgment - A judgment
against a defendant who made no
appearance in court.
Defeasance Clause - The
provision of a mortgage giving the
mortgagor the right to redeem the
property upon satisfaction of the
obligation it secures.
Defeasible - Subject to being
defeated, annulled, revoked.
Deficiency Judgment - A
personal judgment against the debtor for
the amount remaining due after
foreclosure of a security device, as in
the case of a mortgage or trust deed.
Defunct - Deceased, dead.
De jure - By right.
Demand - An escrow term
describing the consideration exacted for
a conveyance or for the relinquishment
of an interest in or a right to
property.
Demise - A transfer of an
estate for years, for life, or at will.
Demurrer - The formal mode of
disputing the sufficiency in law of an
opponent's pleading.
Deponent - A witness; an
affiant.
Depository Statement -
Instructions accompanying the deposit of
documents, instruments, or property.
Deposition - Testimony of a
witness taken upon interrogatories, not
in open court.
Deraign - To trace, to prove.
Descent - Manner of succession
to title to property of an intestate
decedent.
Description - Written
instrument by which title to land is
transferred to a trustee as security for
repayment of a debt or performance of an
obligation.
Devise - The disposition of
land by will.
Devisee - A person to whom
real property is given by will.
Dictum - An opinion by a judge
on a point not essential to the decision
on the main issue. (Plural form is
"dicta.")
Dies - A day.
Diluvian - The gradual washing
away and loss of soil along the banks of
a river.
Disseisin - Dispossession;
ouster.
Divest - To deprive of a right
or title to property.
Divisa - A boundary.
Documentary Transfer Tax - A
tax on certain recorded transfers of
title to real property.
Domicile - Fixed and permanent
home.
Domiciliary Administrator -
Administrator of estate of a decedent
appointed by probate court of the state
of decedent's domicile.
Dominant Tenement - The land
benefited by an appurtenant easement.
Dona - Gift.
Donee - Person to whom gift is
made.
Donor - Person who makes a
gift.
Dower - The common law
interest of a wife in estate of deceased
husband.
Dragnet Clause - Provision in
a security instrument making the
security instrument applicable to all
past and present obligations between
debtor and creditor.
Due-on-Sale Clause - Provision
in a security instrument calling for
automatic maturity in the event of sale
or transfer of title by borrower.
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E
Earnest Money - Something
given as a part of the purchase price to
bind a bargain.
Easement - A limited right or
interest in the land of another
entitling the holder to some use,
privilege, or benefit.
Easement Appurtenant - An
easement created for the benefit of and
attaching to a parcel of land.
Easement in Gross - An
easement created for the benefit of a
person rather than for a parcel of land.
Ejectment - Legal action for
return of right to possession of land
and for damages.
Eleemosynary - Charitable.
Eminent Domain - The right to
take private property for public use.
Emptor - A buyer.
Encroachment - The extension
of an improvement onto land of another.
Encumbrance - A right or
interest in land decreasing its value
but not hindering its sale or transfer.
Endorsement - The act of
signing a name on the back of a check or
promissory note to evidence its
transfer; also, a written document
attached to an insurance policy
expanding or limiting coverage.
Enfeoff - To vest a person
with fee title to land.
Entirety - A form of cotenancy
in which owners are jointly seized of
the whole.
Equitable Lien - A lien
recognized in a court of equity.
Equitable Title - The right to
acquire legal title.
Equity - Natural right or
justice based upon ethics and morals.
Equity in Property - The value
of a person's interest in property over
and above total liens and charges.
Equity of Redemption - The
right to redeem property after a
judicial sale.
Erosion - The gradual eating
away of soil by natural forces.
Escalator Clause - Provision
for upward or downward adjustment of
costs, expenses, rents, etc.
Escheat - A forfeiture of
title to the state.
Escrow - A transaction in
which an impartial third party acts upon
instructions for both seller and buyer,
or for both borrower and lender, in
carrying out instructions, delivering
papers and documents and, disbursing
funds.
Estate - The degree, quantity,
nature, and extent of a person's
interest in real property.
Estate at Will - Possessory
right of a tenant for an indefinite
period terminable by either landlord or
tenant upon notice.
Estate for Life - Estate
measured in time by the uncertain
duration of a person's lifetime.
Estate for Years - Estate
measured for a certain, definite, or
fixed period of time.
Estate of Inheritance - An
estate extending beyond the owner's
lifetime which is succeeded to by heirs
or by devisees.
Estate Tax - A tax upon the
privilege of transmitting title to
property of a decedent.
Estoppel - A bar to the
assertion of a right or a defense in
consequence of previous position, act,
or representation.
et Al. - And others.
et Con. - And husband.
et Seq. - And following.
et Ux. - And wife.
Ex Parte - A judicial
proceeding, order, injunction is said to
be ex parte when it is taken or granted
at the request and for the benefit of
one party only, and without notice to
any person.
Ex Post Facto - After the
event.
Examination - The process of
determining the vesting of title, and
encumbrances burdening land.
Examiner - A person who
analyzes a chain of title to land and
expresses an opinion thereon.
Exception - A deduction,
subtraction, or exclusion.
Exculpatory Clause - Provision
designed to absolve a party from
liability.
Execution Proceedings -
Judicial enforcement of a money judgment
consummating in seizure and sale of
debtor's property.
Executor - A male
representative of the estate of a
testate decedent.
Executory - An agreement or
contract not yet performed.
Executrix - A female
representative of the estate of a
testate decedent.
Exemption - Immunity from a
burden or obligation.
Expediente - Spanish or
Mexican land grant file.
Extension Agreement -
Agreement granting additional time for
performance.
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F
Facsimile
- An exact and
precise copy.
False
Personation -
Assuming, without
authority, the
identity of another
person for
fraudulent purposes.
Fee - An
estate of
inheritance in real
property.
Fee Simple
- Absolute
ownership; a fee
without limitation.
Fee Simple
Absolute - The
largest recognized
estate in land; a
title without
limitation or end.
Fee Simple
Defeasible - A
fee simple estate
subject to being
defeated, annulled,
or revoked.
Feme Sole
- An unmarried
woman.
Feme Covert
- A married woman.
Fictitious
- False, feigned,
pretended.
Fictitious
Deed of Trust -
A recorded deed of
trust containing
general terms and
provisions but
naming no parties
and describing no
property; it is used
for reference only.
Fictitious
Name - A name
adopted for business
purposes other than
the true name of
owner.
Fiduciary
- One who holds a
position of trust
and confidence
requiring scrupulous
good faith and
candor. For example,
a trustee of a trust
is a fiduciary.
Final Decree
- A judicial
decision finally
disposing of a
matter or cause.
Financing
Statement - A
personal property
security instrument
replacing a chattel
mortgage upon
adoption of Uniform
Commercial Code.
Fissionable
Material -
Material capable of
division into parts.
Fixture -
Property originally
personal in
character but
intended to be a
part of the real
property to which
affixed.
Foreclosure
- Enforcement of a
lien by sale of
property given as
security.
Foreclosure
Sale - The sale
of property given as
security to secure
performance of an
obligation.
Forfeiture
- The loss of a
right, title, or
interest in property
as consequence of a
default under an
obligation.
Franchise
- A special
privilege conferred
by government or, a
contractual right to
engage in a business
under trade name
owned by another.
Freehold -
An estate in land of
uncertain duration.
For example, a fee
simple absolute or a
life estate.
Future Advance
Clause -
Provision for
lender's future
disbursements to be
also secured by a
security instrument
previously executed.
Future
Interest - An
estate in real
property entitling
owner to possession
and enjoyment on a
future date. For
example, a remainder
is a future
interest. |
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G
Garnishment
- Attachment of
personal property of
a debtor in the
possession of a
third person.
General Index
- A title company's
record of matters
affecting title to
land maintained
according to names
of individuals and
entities rather than
by real property
description.
General Law
City -
Generally, a city
organized under the
general law.
(Compare "Charter
City," supra.)
General Plan
Restrictions -
Restrictions on use
of real property
imposed for the
benefit of all lots
within a
subdivision.
Gift - A
voluntary conveyance
or transfer of
property without a
valuable
consideration.
Gore - A
small triangular
piece of land.
Gov. Code
- Government Code.
Graduated
Lease - A lease
providing for
varying rental
rates.
Grant - A
transfer of real
property by deed.
Grant Deed
- A written
instrument
transferring title
to real property.
Grantee -
The person acquiring
title to real
property by a deed.
Grantor -
The person
transferring title
to real property by
a deed.
Groin - A
structure intended
to impede or resist
movements of sand
adjacent to seas or
lakes.
Ground Lease
- A lease of land
only and not of
improvements to be
made by lessee.
Ground Rent
- Earnings of
improved property
credited to land
separate from its
improvements.
Guarantee of
Title - A form
of title insurance
based solely upon
public record
disclosures.
Guardian -
A person appointed
by the probate court
to care for the
person, the
property, or the
person and property
of a minor or an
incompetent person.
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H
Habendum
Clause - The
provision in a deed,
usually following
the description,
reciting: "to have
and to hold, etc."
Habendum and
Tenendum - To
have and to hold.
Hand - A
lineal measure of
four inches.
Heir - A
person entitled by
law to inherit
property of a
decedent.
Hereditaments
- Anything capable
of being inherited.
Holding
Agreement - A
form of a trust
where trustee holds
legal title to real
property with no
active duty of
management or
control.
Holographic
Will - A will
entirely written,
dated, and signed by
the testator in his
or her own
handwriting.
Homestead
- The dwelling in
which an owner or
head of a family
resides protected to
a limited extent
from forced sale by
a recorded
declaration of
homestead.
Hypothecate
- To pledge without
delivery of title or
possession.
(Principally an
admiralty term that
has found its way
into real property
finance). |
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I
I/C -
Individual/Corporation. An
in-plant index of matters
affecting persons or
companies which cannot be
entered on Lot Books because
no specific properties are
mentioned.
Idem Sonans - The
doctrine that if two names
may be sounded alike any
variance in spelling is
immaterial.
Id Est. - That is
commonly abbreviated "i.e."
In Essee - Alive;
in being.
Improved Real Estate
- Land upon which buildings
have been erected.
In Personam -
Against the person.
In Propria Persona
- In his/her own person;
himself, herself.
Abbreviated to "pro per."
In Re - In the
matter of.
In Rem - Against
property.
Inchoate -
Incomplete; not perfected.
Incompetent - A
person deemed by law
incapable of managing
his/her property.
Incorporeal -
Intangible; without physical
existence.
Indemnity -
Compensation given for a
loss sustained.
Indemnity Agreement
- An agreement relieving a
person of an obligation to
compensate for a potential
loss. A hold harmless
agreement.
Indenture - A deed
or other document executed
by both parties.
Inheritance Tax -
A tax imposed upon the
privilege of succeeding to
the title of a decedent.
Installment Land Sales
Contract - An agreement
entered into for the sale
and purchase of property
under which purchase price
is paid in installments.
Instrument - A
formal, legal, written
document.
Insurable Interest
- A sufficient interest in
property that loss of it or
damage to it would entail
financial loss to the owner.
Intangible -
Incorporeal; not of material
or physical existence.
Inter Alia - Among
other things.
Interest - A share
of, or a right to, or a
concern in something of
Value; also, a premium paid
for the use of money.
Interim Loan - A
short term loan under
circumstances anticipating a
subsequent long term loan.
Interlocutory Decree
- A decree made pending
final outcome of the cause
prior to final hearing on
the merits.
Intestate -
Without a will; also, a
decedent who left no will.
Intra - Within.
Inure - To serve
to the use or benefit.
Involuntary Lien -
A lien created by operation
of law.
Ipso Facto - Of
itself; by the very fact.
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J
Joinder - One or
more person acting in unison
joining together.
Joint Protection
Policy - A policy
insuring more than one
interest. I.E., the interest
of both owner and lender.
Joint Tenancy - A
form of co-ownership by two
or more persons in equal
shares characterized by the
incident of survivorship.
Joint Venture - A
form of business
organization composed of two
or more persons to conduct a
single enterprise for
profit.
Judgment - A final
determination in a court of
competent jurisdiction of
the rights of the parties to
an action or proceeding.
Judgment Lien - A
statutory lien created by
recording a judgment, or an
abstract, ordering the
payment of a sum of money.
Junior Lien - A
lien of inferior priority.
Jurat - The
portion of a certificate or
affidavit stating when,
where, and before whom it
was sworn.
Jurisdiction - The
power to adjudicate
concerning the subject
matter in a given case. |
L
Laches -
Inexcusable delay in
asserting a right.
Landowner's Royalty
- An interest in unsevered
oil and gas granted to a
third person or reserved by
a landowner on occasion of
his/her alienation of an
interest in real property.
Land Contract - An
agreement entered into for
the sale and purchase of
land.
Lands, Tenements,
Hereditaments -
Inheritable lands or
interests in them.
Latent -
Concealed.
Lateral Support -
The support the soil gives
to the land of an adjacent
owner.
Lease - A writing
constituting a conveyance of
real property form a term of
years and a contract for its
possession during that term.
Leasehold - The
estate for years created by
a lease.
Legacy - A gift of
personal property by will.
Legal Description
- A description of real
property sufficient to
locate it on the ground by
reference to government
surveys or approved recorded
maps.
Legatee - A person
to whom personal property is
given by will.
Lessee - The
person acquiring an estate
for years in a lease.
Lessor - The
person transferring an
estate for years in a lease.
Letters of
Administration - Formal
written evidence of court
appointment of a personal
representative of the estate
of an intestate decedent.
Letters of
Conservatorship - Formal
written evidence of court
appointment of a conservator
of the person, or of the
estate, or of the person and
estate of a conservatee.
Letters of
Guardianship - Formal
written evidence of court
appointment of a guardian
for the person, estate, or
person and estate of a minor
or of an incompetent.
Letters of
Testamentary - Formal
written evidence of court
appointment of a personal
representative of the estate
of a testate decedent.
Levy - Seizure of
property by judicial
process.
Lien - A charge
upon property for the
purpose of securing the
payment or discharge of a
debt or obligation.
Life Beneficiary -
A person entitled to receive
a benefit for life.
Life Estate - An
estate measured in duration
by the lifetime of a natural
person.
Limitations, Statutes
of - Statutes limiting
the time within which
parties having a cause of
action must institute
proceedings to enforce the
same.
Lineal - In a
direct line.
Lis Pendens - A
recorded notice of the
pendency of an action.
Lite Pendente -
While the action is pending.
Littoral -
Pertaining to the shore.
Living Trust - A
trust becoming operative in
the lifetime of the person
creating it.
Loan Policy - A
policy of title insurance
insuring the interest of a
lender.
Lock-In-Clause - A
loan provision specifying a
period during which no
repayment is permitted.
Loss Payable Clause
- An endorsement to an
insurance (fire) policy
specifying parties (lenders)
entitled to participate in
proceeds in the event of
loss.
L.S. -
Abbreviation for "locus
sigilli" meaning the place
for a seal.
Lot Split -
Ordinarily, sale of a
portion of a parcel of land.
|
M
Map Act -
The Subdivision Map
Act (Gov. Code,
Section 66410 et
seq.) regulating the
subdivision of land.
Marshaling
- The ranking of
several parcels of
land for the
satisfaction of a
debt for which all
parcels serve as
security. Marshaling
is an equitable
principle.
Mean -
Intermediate.
Mean High Tide
Line - The
average height of
certain high waters.
Meander -
To follow a winding
course.
Mechanic's
Lien - A
statutory lien in
favor of persons
contributing labor,
material, supplies,
etc. to a work of
improvement upon
real property.
Memorial -
A short note,
abstract, or
memorandum.
Merger of
Title - The
absorption of a
lesser estate into a
larger estate.
Meridians
- Imaginary
north-south lines
intersecting base
lines to form a
starting point for
measurement of land.
Mesne -
Intermediate,
intervening.
Metes and
Bounds -
Measurements and
boundaries.
Military
Reservist Relief Act
of 1991 -
California statutory
law to protect
military reservists
called to serve
during the Gulf War
from loss of
property in
satisfaction of
obligations incurred
before being called
to serve.
Monument -
An object or mark
employed by a
surveyor to fix or
to establish
boundaries or land
location.
Moratorium
- A temporary
suspension by
statute of the
enforceability of a
debt.
Mortgage -
A two party security
instrument pledging
land as security for
the performance of
an obligation.
Mortgagee
- The party entitled
to performance by a
mortgagor.
Mortgagor
- The party
executing a
mortgage.
Muniments of
Title - Deeds
and other original
documents comprising
a chain of title to
a parcel of real
property.
Mutual Water
Company - A
company organized
for the purpose of
providing water to
its members. |
N
Naturalization
- The conferring of
rights of
citizenship to a
person who has been
an alien.
Naturalized
Citizen - A
person made a
citizen of the
United States by act
of congress.
Neap Tides
- Tides occurring
between the full
moon and the change
of the moon, twice
every twenty-four
hours.
Negotiable
- Capable of
transfer by
endorsement in the
ordinary course of
business.
Negotiable
Instrument -
Instruments with
special legal
incidents permitting
free circulation in
commerce.
Nominee -
A person designated
to act in the place
and stead of
another.
Nonjudicial
Foreclosure Sale
- Sale of property
pursuant to the
power of sale
provisions contained
in a security
instrument.
Notarize -
To prove execution
of a document by
means of a notary
public's certificate
of acknowledgment.
Notary Public
- A person
authorized by law to
take acknowledgments
and to administer
oaths.
Note - A
common reference to
a promissory note.
Note of Action
- A lis pendens.
Notice of
Cessation - A
recorded notice
shortening the time
for filing
mechanics' liens if
work ceases prior to
completion.
Notice of
Completion - A
notice recorded
within ten days of
completion of a work
of improvement
signaling
commencement of the
time period within
which claims of
mechanics' liens
must be recorded.
Notice of
Default - A
recorded notice of a
trustor's failure to
perform his/her
obligation under a
deed of trust. The
beginning step in
nonjudicial
foreclosure of a
deed of trust.
Notice of
Non-Responsibility
- A recorded notice
by an owner of real
property that he/she
will not be
responsible for
payment of costs of
improvements
contracted for
thereon by some
other person.
Notice to Quit
- Notice given by
landlord to a tenant
to pay rent within
three days or vacate
premises.
Novation -
The substitution of
a new obligation for
an old one.
Nuncupative
Will - An oral
will.
Nunc Pro Tune
- Now for then; a
tardy act made
retroactive to the
time when the act
should have been
done. |
O
Obiter Dictum
- That said in
passing.
Office
Information -
Special information
of title
significance
concerning persons
or property
maintained by a
title company but
not necessarily a
matter of public
record.
Offset
Statement -
Statement
customarily
furnished an escrow
holder as to the
current status of
rental accounts,
security deposits,
and balance due on
liens and
encumbrances.
Omnibus Clause
- Provision in an
order for
distribution by
which any property
of a decedent not
specifically
described is
distributed.
Open-End
Mortgage -
Provision in a
mortgage (or deed of
trust) by which
additional advances
of money made by
lender to borrower
after execution of
the security
instrument are also
secured by it.
Operative
Property -
Property reasonably
necessary to the
operation and
conduct of a
particular business.
Option - A
choice; a right, for
a consideration, to
do or not to do an
act in the future,
or to require or not
require performance
of a future act by
another.
Order
Confirming Sale
- A court order
confirming sale of
estate property by a
personal
representative, or
other fiduciary.
Ordinance
- A legislative
enactment of a city
or county.
Ostensible
- That which is
apparent or that
which seems to be.
Outlawed -
A claim, right, or
cause of action
unenforceable due to
lapse of time.
Overriding
Royalty - That
interest in
unsevered oil and
gas retained by a
lessee upon occasion
of his or her
execution of a
sublease or
assignment.
Overt -
Open.
Owner's Policy
- A policy of title
insurance insuring
the title of an
owner.
Ownership
- The right to use
and enjoy property
to the exclusion of
others. |
P
Parcel -
Any area of land
contained within a
single description.
Parol -
Oral.
Participating
Per Cent - Any
interest in
unsevered oil and
gas which an owner,
lessee, sublessee,
or assignee disposes
of to investors to
finance production
whereby the investor
shares
proportionately in
the income from the
enterprise.
Partial
Reconveyance -
An instrument
extinguishing the
lien of a deed of
trust from a portion
of the property.
Partial
Release Clause -
Provision in a land
contract, deed of
trust or mortgage
for a conveyance of
a portion of the
property to buyer
upon satisfaction of
specified
conditions.
Partition
Action -
Judicial proceedings
instituted by a
co-owner or
co-owners to sever
their co-ownership
either by a physical
division into
separate parcels or
by sale of entire
parcel and division
of proceeds.
Partnership
- An association of
two or more persons
to carry on as
co-owners a business
for profit.
Party Wall
- A wall located on
a boundary line and
used by both owners.
Patent - A
conveyance of title
to public land
executed by the
federal or state
government.
Pendente Lite
- Pending
litigation.
Per Autre Vie
- During the life of
another.
Per Capita
- By the head; by
the number of
individuals.
Per Stirpes
- According to the
roots; by right of
representation.
Per Se -
By itself; as such.
Percentage
Lease - A lease
under which rental
is determined, in
whole or in part,
from the volume of
business done.
Periodic
Tenancy -
Tenancy for
successive periods
of equal duration.
Personal
Property -
Movable property;
property which is
not real property.
Plaintiff
- The party
initiating an
action.
Plat - A
plot, map, or chart.
Pleadings
- The formal writing
filed in court
containing the
various claims and
defenses of
plaintiff and of
defendant.
Pledge -
Delivery of personal
property as security
for the performance
of an obligation.
Policy of
Title Insurance
- A contract
indemnifying against
loss resulting from
a defect in title to
the interest or lien
in real property
insured.
Post -
After; afterward.
Powers of
Attorney - A
written delegation
from a principal
authorizing another
person, as agent of
principal, to act
for him or her in
his/her name in a
designated
transaction or
transactions.
Preamble -
The introductory
portion.
Preemption
- The act of
purchasing before or
ahead of another
person.
Preemption
Entry - An entry
upon public lands of
the United States by
a settler giving the
settler a preferred
right to acquire
title.
Preemptive
Right - A
preferential right
to purchase on same
terms as offered by
a third party.
Pre-Payment
Clause -
Provision permitting
payment of a debt
prior to due date.
Pre-Payment
Penalty - Charge
imposed by a lender
for payment of a
debt before due
date.
Prescription
- A method of
acquiring an
easement by adverse
use of another's
property.
Press Copy
- A title company's
copy of title
insurance or
information it has
issued.
Presumption
- That which may be
assumed without
proof.
Pretermit
- To omit; to pass
by.
Prima Facie
- Assumed correct
until overcome by
further proof.
Principal
- A party
represented by an
agent or the chief
or foremost party in
a particular
transaction or the
amount of a loan to
be repaid exclusive
of interest or the
assets constituting
a trust estate.
Priority -
The relative
superiority of
competing liens and
encumbrances.
Privity -
Closeness; mutuality
of relationship.
Probate -
Relating to proof;
the proof of
validity of a will
of a decedent; the
proof of ownership.
Probate Court
- A division of
superior court
having jurisdiction
over estates of
decedents, minors,
incompetents, and
conservatees.
Profit Prendre
- A right to take a
part of the soil or
produce of land.
Promissory
Note - An
unconditional
written promise,
signed by maker, to
pay, absolutely, a
sum certain in
money, either to the
bearer or to a
person therein
designated or
his/her order.
Pro-Rata -
Proportionately;
according to a
certain rate,
percentage, or
proportion.
Public Lands
- All unoccupied
land belonging to
the federal
government subject
to disposition under
general land laws.
Public Report
- A report issued by
California Real
Estate Commissioner
containing
information of
interest to a
prospective buyer of
subdivided property.
Purchase Money
Mortgage - A
mortgage securing
payment of all or a
portion of the
purchase price of
real property. A
purchase money
mortgage can be a
mortgage with 'first
priority', 'second
priority', 'third
priority', etc. |
Q
Quasi -
As; as if; of
similar nature.
Quasi-Community
Property -
Property acquired by
a married person
while domiciled
outside California
which would have
been community
property if the
acquiring spouse had
been domiciled in
California.
Quasi-Contract
- A contract implied
by law; based on
conduct.
Quiet Title
Action - The
name of an action
brought to establish
a title to property
or to remove a cloud
on the title.
Quitclaim Deed
- A form of deed
containing no
warranties and
conveying the
current right, title
and interest of the
grantor, if any, to
real property. |
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R
Ratable -
Proportionate.
Range - A
column of townships
running north and
south in a row
parallel to, and
east or west of a
principal meridian.
Ratification
- The adoption or
approval of a
previous
unauthorized act.
Real Property
- Immovable property
such as land,
buildings,
improvements,
appurtenances, and
air space.
Rebuttable
Presumption - A
presumption that is
not conclusive one
which may be
contradicted by
evidence.
Rescission
- The act of
canceling or
annulling the effect
of a document.
Reconveyance
- A document
extinguishing the
lien of a deed of
trust and
reconveying the
title to the real
property encumbered
by the deed of trust
to the trustor.
Record -
To incorporate into
the public records
of the County
Recorder; also, the
system of public
records imparting
constructive notice
of title to claims,
or interests, in
real property.
Recording
- The act of filing
documents for record
in the office of the
County Recorder.
Redemption
- The act of buying
back property
previously sold in
judicial
proceedings.
Redemption
Right - The
right of a debtor to
reacquire title to
property formerly
owned by him or her
but sold through
judicial process to
satisfy his/her
debts.
Reformation
Action -
Proceedings
instituted for the
purpose of
correcting mistakes
in documents.
Reinstatement
- Restoring to the
status occupied
before a forfeiture.
Release -
A document
extinguishing the
lien of a mortgage,
judgment, mechanic's
lien, etc.; also, a
document absolving
another of
liability.
Release Clause
- Provision in a
mortgage or deed of
trust for the
release of the lien
from portions of the
property.
Reliction
- The gradual
recession of water
from the usual
watermark exposing
dry land.
Remainder
- A future estate,
other than a
reversion, taking
effect upon
termination of a
prior estate.
Remainderman
- The person who
owns an estate in
remainder.
Remittitur
- An appellate
court's instruction
and direction to the
lower court in
disposing of a
matter appealed.
Replevin -
A form of action for
the recovery of
personal property.
Request for
Notice -
Recorded request by
anyone desiring
written notice of
the recording of a
notice of default
under a deed of
trust or of the
scheduling of a
trustee's sale
thereunder; also,
recorded trust
request of anyone
desiring notice of
the scheduling of an
execution sale
foreclosing the lien
of a judgment; also,
a request filed in
probate proceedings
by anyone desiring
special notice of
proceedings taken
therein.
Request for
Reconveyance -
Written instruction
of a beneficiary
under a deed of
trust addressed to
the trustee,
acknowledging
satisfaction of the
secured obligation,
and directing the
trustee to
extinguish the lien
of the deed of trust
and reconvey the
property encumbered
by the deed of
trust.
Reservation
- A right or an
interest retained by
a grantor in a
conveyance.
Residuary
Clause - The
"catch all" or
omnibus clause of a
will directing
distribution of any
property not
specifically
bequeathed or
devised.
Residue -
That portion of a
de-cedent's estate
remaining after
payment of debts,
taxes, and
distribution of
specific bequests
and devises.
Restraint on
Transfer - An
impediment or
limitation on an
owner's right to
transfer title to
property.
Restrictions
- Impediments,
limitations, or
prohibitions
respecting use of
real property
imposed in deeds or
in a declaration.
Resulting
Trust - A trust
implied by law to
prevent injustice.
Revenue Stamps
- Stamps affixed to
documents evidencing
payment of federal
tax formerly
imposed.
Reversion
- A presently vested
future estate in the
grantor or grantor's
heirs the possession
of which is
deferred.
Rider - A
supplement to; an
addition to; an
endorsement to a
document.
Right of
Survivorship -
The right to succeed
to the interest of a
decedent.
Right of Way
- A right to pass
over or to cross a
parcel of land.
Riparian -
Pertaining to the
bank of a river or
stream.
Riparian
Rights - The
rights of an owner
to water bordering
his or her land.
Rood of Land
- The fourth part of
an acre in square
measure, or one
thousand two hundred
and ten square
yards.
Rule Against
Perpetuities -
At Common Law, a
principle which
provides that no
interest in real or
personal property
shall be good unless
it must vest, if at
all, not later than
twenty-one years
after some life in
being at the
creation of the
interest. California
has adopted a
statutory
modification of the
rule. |
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S
Sale and
Leaseback - A
transaction in which
a grantee in a deed
leases the same
property back to the
grantor without a
change in its
possession.
Sales Contract
- An agreement
entered into for the
sale and purchase of
property.
Sans -
Without.
Satisfaction
- The performance of
the terms of an
obligation.
Scilicet -
To-wit, that is to
say; namely,
abbreviated as "ss."
Seal - An
impression on a
document lending
authenticity to its
execution.
Searcher -
A title company
employee who
assembles the links
required to complete
a chain of title to
real property.
Section -
A measure of land
one square mile
containing 640
acres.
Security -
Collateral; property
pledged or
hypothecated to
secure performance
of an obligation.
Security
Deposit -
Deposit of money
made to assure
performance of an
obligation.
Seisin -
The possession of
land under a claim
of freehold.
Seriatim -
In succession.
Servient
Tenement - The
estate burdened by
an easement.
Servitude
- A right in
another's property
in the nature of an
easement.
Settlor -
One who creates a
trust.
Severalty
Ownership -
Ownership of
property by one
person sole
ownership.
Sheriff's Deed
- Conveyance of
title to a debtor's
property as a
consequence of an
execution sale.
Sine Qua Non
- Without which not.
An indispensable
requisite.
Situs -
The location of
property.
Slander of
Title - False
unjustified
statements regarding
another person's
title to property.
Soldiers' and
Sailors' Civil
Relief Act -
Federal law designed
to protect members
of the armed forces
from loss of
property in
satisfaction of
obligations incurred
before entry into
the service. [See
also California's
Military Reservist
Relief Act of 1991].
Special
Assessments -
Charges imposed upon
real property
especially benefited
by a local public
improvement.
Specific
Performance Action
- A form of action
seeking the
execution of
documentation
relating to real
property.
Stare Decisis
- The legal doctrine
that past decisions
of courts stand as
precedents for
future decisions.
Statement of
Information - A
brief statement of
facts relied on by
title insurers to
assist in the proper
identification of
persons.
Status -
The legal position
of an individual;
i.e., adult, minor,
etc.
Statute of
Frauds - A
series of statutes
designed for the
purpose of
preventing fraud.
For example, in
order to be
enforceable, an
agreement for sale
of real property
must be in writing.
Statute of
Limitations - A
series of statutes
designed to render
unenforceable stale
claims and rights.
Stirps -
Stock, race, family.
The person from whom
a family descends.
Stop Notice
- A notice given a
construction lender
by an unpaid
contributor to a
work of improvement
for the purpose of
intercepting loan
funds.
Straight Note
- A promissory note
calling for payment
of principal in one
sum rather than in
installments.
Subdivision
- The division of a
tract of land into
separate parcels.
Subject To
- The recognition of
an existing lien or
encumbrance but not
assuming personal
liability therefor.
Sublease -
A lease executed by
a tenant for a term
less than the
leasehold.
Subordinate
- To make inferior
in priority.
Subordination
Agreement - An
agreement changing
the priority of
interests.
Subrogate
- To substitute one
person in place of
another with
reference to an
obligation.
Substitution
- The appointment of
a person to act in
the place and stead
of another.
Summons -
A court's direction
to the sheriff to
inform a defendant
that an action has
been filed against
him/her.
Surety -
One who guarantees
the performance of
an obligation by
another.
Survey - A
process of measuring
a parcel of land and
ascertaining its
area and boundaries.
Syndicate
- A pooling
arrangement or
association of
persons investing in
real property by
buying shares in an
organization.
T
Takeout
Loan
- A long
term
loan
replacing
a short
term
interim
construction
loan.
Tax Deed
- A deed
issued
to a
purchaser
following
a sale
necessitated
by the
non-payment
of real
property
taxes.
Tax Sale
- Sale
conducted
for the
purpose
of
collecting
delinquent
taxes
assessed
to a
parcel
of real
property.
Tax
Search
- An
examination
of the
public
records
of
taxing
authorities
to
determine
the tax
status
of a
parcel
of real
property.
Tenancy
by the
Entirety
- A form
of
co-ownership
by
husband
and
wife,
characterized
by the
inability
of one
spouse
alone to
convey
or
encumber
and by
the
incident
of
survivorship.
Tenancy
in
Common
- A form
of
co-ownership
of
property
by two
or more
persons
in
undivided
interests.
Tender
- An
unconditional
offer to
pay a
debt or
to
perform
an
obligation.
Tenements
- All
rights
in land
passing
with a
conveyance
thereof.
Tentative
Map
- A
proposed
subdivision
map
required
to be
submitted
to and
approved
by the
local
government
agency
before
approval
of a
final
subdivision
map.
Tenure
- The
mode or
manner
in which
a title
to land
is held.
Term
- The
time
duration
of a
lease or
of a
loan
also,
any
provision
of a
contract
or
lease.
Terminable
Interests
-
Interests
enduring
for a
limited
period
of time.
Termite
Report
- A
report
of an
inspection
for
wood-destroying
pests by
a person
licensed
by the
state.
Testament
- True
declaration
of a
person's
last
will.
Testamentary
Trust
- A
trust
created
by the
last
will and
testament
of a
decedent.
Testator
- One
who died
leaving
a will.
Testimonium
Clause
- The
concluding
clause
of an
instrument
beginning
with the
words:
"In
witness
where-of..."
Tie
- A
survey
connection
from a
point of
known
position
to a
point
whose
position
is
desired.
A tie is
made to
determine
the
position
of a
supplementary
point
whose
position
is
desired
for
mapping
or
reference
purposes,
or to
close a
survey
on a
previously
determined
point.
To "tie
in" is
to make
such a
connection.
The
point to
which
the
connection
is made
is
termed a
tie
point.
Tie
Point
- Point
of
closure
of a
survey
either
on
itself
or on
another
survey.
Tied
- As
used in
surveying,
monuments
are tied
together
by
measurements.
A
property
corner
is tied
to
offset
monuments
or to
other
property
corners.
Tier
- A row
of
townships
running
east and
west
parallel
to and
north or
south of
a
designated
base
line.
Time Is
Of The
Essence
- Clause
in a
contract
indicating
punctual
compliance
is
required.
Title
- The
sum
total of
a
person's
right or
the
extent
of
his/her
interest
in real
property.
Title
Insurance
-
Assurance
of
indemnification
for loss
occasioned
by
defects
in the
title to
real
property
or to an
interest
therein
which is
insured.
Title
Plant
- The
records
of a
title
company
assembled
and
maintained
for the
purpose
of
issuing
title
insurance
on real
property.
Title
Policy
- A
contract
indemnifying
against
loss
resulting
from a
defect
in the
title to
the
interest
or lien
in real
property
insured.
Title
Search
- The
assembled
links
required
to
complete
a chain
of title
to a
parcel
of real
property.
Toll
- To
bar; to
defeat.
Toll the
Statute
- To
stop or
interrupt
the
running
of a
statute
of
limitation.
Topography
- The
nature
of
surface
of land,
e.g.,
level,
rolling,
mountainous.
Torrens
- A
system
of
registration
of land
title no
longer
lawful
in
California
but
utilized
in some
other
states.
Township
- A
normally
square
shaped
subdivision
of
public
lands
containing
36
sections
uniformly
numbered
starting
with the
northeast
section.
Tract
- A
parcel
of land
divided
into
smaller
parcels
called
lots.
Trade
Fixtures
-
Articles
of
personal
property,
fastened
to real
property
necessary
to carry
on a
trade or
business.
Trade
Name
- The
name
under
which an
organization
does
business.
Transfer
Tax
- A tax
imposed
upon
transfers
of title
to real
property.
Trust
- A
fiduciary
relationship
in which
a
trustee
holds
title to
property
for the
benefit
of a
beneficiary.
Trust
Deed
- Same
as a
deed of
trust; a
three
party
security
instrument
conveying
title to
land as
security
for the
performance
of an
obligation.
Trustee
- The
fiduciary
holding
title to
property
for the
benefit
of
another.
Trustee's
Deed
- The
deed
given by
the
trustee
under a
deed of
trust
when the
secured
property
is sold
under
power of
sale.
Trustee's
Sale
-
Foreclosure
sale
conducted
by the
trustee
in the
exercise
of a
power of
sale.
Trustor
- The
person
conveying
property
in
trust.
|
U
Ultra
Vires
- Beyond
their
powers.
Undivided
Interests
-
Unsegregated
interests
of
co-owners
in the
entire
property
owned by
them as
tenants
in
common.
UCC
-
Uniform
Commercial
Code.
(Com.
Code,
Section
1101 et
seq.)
Unities
- The
essential
elements
of a
common
law
joint
tenancy.
i.e.,
unities
of time,
title,
interest,
and
possession.
Unjust
Enrichment
-
Mistake
or
misfortune
of one
person
unfairly
benefiting
another.
nlawful
Detainer
- An
action
brought
for
recovery
of
possession
of real
property.
Usury
- The
exaction
of a
greater
payment
or
return
for the
loan of
money
than is
permitted
by law.
|
V
Valid
-
Sufficient
in law;
effective.
Vara
- A
Mexican
measure
of
length;
approximately
33
inches.
Variable
Interest
-
Interest
rates
fluctuating
up or
down
according
to
current
cost of
money.
Vendee
- A
buyer or
purchaser.
Vendor
- A
seller.
Venue
- The
county
in which
an
action
is
brought;
also the
place
where an
acknowledgment
is
taken.
Verification
- A
sworn
statement
before a
qualified
officer
(notary
public)
that the
contents
of a
writing
are
true.
Vest
- To
give an
immediate
fixed
right to
property.
Vestee
-
Present
record
owner.
Vested
Interest
- A
property
interest
that is
fixed or
determined.
Vide
- See.
Videlicet
- To
wit,
that is
to say;
abbreviated
as
"viz."
Viz.
-
Abbreviation
for
videlicet.
Voidable
-
Subject
to being
declared
void.
Voluntary
Lien
- A lien
intentionally
created
or
entered
into by
a
debtor.
|
W
Waive
- To
release
or
abandon
a right
or a
privilege.
Waiver
- The
act of
releasing
or
abandoning
a right
or a
privilege.
Warranty
Deed
- A deed
containing
express
covenants
as to
good
title
and
right to
possession.
Waste
-
Destruction
or
injury
to real
property.
Water
Right
- The
right of
an owner
of land
to use
water
adjacent
to or
below
the
surface
of the
land.
Wrap-Around
Mortgage
- Same
as an
"all
inclusive
mortgage":
One
incorporating
the
balance
due
under a
prior
mortgage.
|
Z
Zone
- Area
in a
community
designated
for
specified
use and
purpose.
Zoning
-
Governmental
regulation
of the
use of
real
property.
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