Chapter 1, Real Property

Front 1

Adverse Possession

Back 1

The right of an occupant of land to acquire title against the real owner, where possession has been actual, continuous, hostile, visible and distinct for the statutory period.

Front 2

Chattel

Back 2

Personal property such as furniture, clothing, or a car.

Front 3

Community Property

Back 3

Property accumulated through the joint efforts of husband and wife. It is a classification of property peculiar to certain states.

Front 4

Condition

Back 4

A stipulation or qualification in a deed, which, if violated or not performed, defeats the deed and places the title back in the hands of the original grantor.

Front 5

Easement

Back 5

A right given to a third party to use a portion of the property for certain purposes, such as power lines or water mains, or ingress and egress.

Front 6

Encumbrance

Back 6

Anything which burdens (limits) the fee title to property, such as a lien, easement or restriction of any kind.

Front 7

Estate

Back 7

The ownership interest of an individual in real property. The sum total of all the real property and personal property owned by an individual at time of death.

Front 8

Fee Simple

Back 8

This type of ownership, also called fee simple absolute, is the maximum interest a person can have in a piece of real estate. It entitles the owner to use the property in any manner they see fit, in accordance with state and local laws.

Front 9

Freehold

Back 9

The holding of real property as an estate of inheritance (fee simple), or as a lesser estate for life (life estate), it includes actual ownership of unpredictable duration.

Front 10

General Warranty Deed

Back 10

Deed which contains five specific covenants (covenant of seizin, covenant of quite enjoyment, covenant against encumbrances, covenant of warranty forever, and covenant of further assurance) written warranties (guarantees) of title. See also WARRANTY DEED.

Front 11

Grant Deed

Back 11

Customary document used in some states to transfer title to real property. Contains two implied warranties. See also WARRANTY

Front 12

Grantee

Back 12

A person to whom an interest in a piece of property is conveyed

Front 13

Grantor

Back 13

The person who conveys an interest in a piece of property to another person.

Front 14

Holdover Tenant

Back 14

A tenant who remains in possession of leased property after the expiration of the lease term. See ESTATE AT SUFFERANCE.

Front 15

Intestate

Back 15

A person who dies without leaving a valid will.

Front 16

Joint Tenancy

Back 16

A type of ownership of property by two or more people with the right of survivorship. Requires the four unities of time, title, interest and possession.

Front 17

Legal Description

Back 17

A property description, recognized by law, that is sufficient to locate and identify the property without oral testimony.

Front 18

Lien

Back 18

A legal claim by one person on the property of another for security for payment of a debt.

Front 19

Life Estate

Back 19

An estate in real property, measured by the life of a person.

Front 20

Mechanic's Lien

Back 20

A statutory lien on a specific property for labor or materials contributed to a work or improvement.

Front 21

Meridian Line

Back 21

Survey line running North and South, used in establishing township boundaries

Front 22

Metes and Bounds

Back 22

A method of describing the boundaries of land, setting forth all the boundary lines, together with their terminal points and angles.

Front 23

Personalty

Back 23

PERSONAL PROPERTY) Any property which is not designated by law as real property.

Front 24

Quitclaim Deed

Back 24

A deed used to transfer any interest in real property which the grantor may have. It contains no warranties of any kind. Used for corrections, quiet title, etc.

Front 25

Real Estate

Back 25

Land and anything permanently affixed to it, including buildings.

Front 26

Remainderman

Back 26

The one entitled to the remainder

Front 27

Section

Back 27

Established by government survey, it is one square mile and contains 640 acres.

Front 28

Severalty

Back 28

Ownership of real property by one person. Also known as sole ownership.

Front 29

Special Warranty Deed

Back 29

A deed in which the grantor warrants or guarantees the title only against defects arising during the grantor's ownership of the property and not against defects existing before the time of the grantor's ownership.

Front 30

Tenancy at Sufferance

Back 30

An estate resulting where there is retention of possession without the consent of the landlord, after expiration of a lease, creating a holdover tenancy.

Front 31

Tenancy in Common

Back 31

A form of ownership in which two or more owners hold an undivided (though not necessarily equal) interest in the property, with no right of survivorship.

Front 32

Title Evidence

Back 32

The evidence one has showing right to possession of land.

Front 33

Trade Fixtures

Back 33

Articles of personal property annexed to real property, but which are necessary to carry on a business

Front 34

True Point of Beginning

Back 34

The description always identifies an enclosed area by starting at an origination point called a true point of beginning or TPOB, and returning to the TPOB at the end of the description.