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34 Cards in this Set

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  • Back
Adverse Possession
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.
Personal property such as furniture, clothing, or a car.
Community Property
Property accumulated through the joint efforts of husband and wife. It is a classification of property peculiar to certain states.
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.
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.
Anything which burdens (limits) the fee title to property, such as a lien, easement or restriction of any kind.
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.
Fee Simple
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.
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.
General Warranty Deed
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.
Grant Deed
Customary document used in some states to transfer title to real property. Contains two implied warranties. See also WARRANTY
A person to whom an interest in a piece of property is conveyed
The person who conveys an interest in a piece of property to another person.
Holdover Tenant
A tenant who remains in possession of leased property after the expiration of the lease term. See ESTATE AT SUFFERANCE.
A person who dies without leaving a valid will.
Joint Tenancy
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.
Legal Description
A property description, recognized by law, that is sufficient to locate and identify the property without oral testimony.
A legal claim by one person on the property of another for security for payment of a debt.
Life Estate
An estate in real property, measured by the life of a person.
Mechanic's Lien
A statutory lien on a specific property for labor or materials contributed to a work or improvement.
Meridian Line
Survey line running North and South, used in establishing township boundaries
Metes and Bounds
A method of describing the boundaries of land, setting forth all the boundary lines, together with their terminal points and angles.
PERSONAL PROPERTY) Any property which is not designated by law as real property.
Quitclaim Deed
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.
Real Estate
Land and anything permanently affixed to it, including buildings.
The one entitled to the remainder
Established by government survey, it is one square mile and contains 640 acres.
Ownership of real property by one person. Also known as sole ownership.
Special Warranty Deed
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.
Tenancy at Sufferance
An estate resulting where there is retention of possession without the consent of the landlord, after expiration of a lease, creating a holdover tenancy.
Tenancy in Common
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.
Title Evidence
The evidence one has showing right to possession of land.
Trade Fixtures
Articles of personal property annexed to real property, but which are necessary to carry on a business
True Point of Beginning
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.