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200 Cards in this Set

  • Front
  • Back
20-day preliminary notice
Notification of a subcontractor’s right to record and foreclose a mechanic’s lien against property when they are not paid.
abandonment
The termination of an easement when the easement holder’s actions demonstrate a clear intent to permanently abandon all future use of the easement.
absolutely privileged publication
Any statement made as part of a legislative, judicial or other official proceeding authorized by law, barring a slander of title action.
abstract of judgment
A condensed written summary of the essential holdings of a court judgment.
abstract of title
A representation issued by a title company as a guarantee to the named person, not an insurance policy, listing all recorded conveyances and encumbrances affecting title to the described real estate.
actual money losses
Monetary losses recovered for injury to the real estate, lost use of the property, personal injury or injury to the occupant’s personal property, also called damages.
actual notice
Express or implied knowledge of conditions which exist on a property.
administrative agencies
A government entity created by the state or federal legislature and local governing bodies to oversee specialized matters. Most have legislative, executive and judicial authority.
adverse possession
A method of acquiring title to real estate owned by another by openly maintaining exclusive possession of the property for a period of five years and paying all property taxes.
affirmative covenant
A recorded restriction limiting the use of a property to a specific purpose.
agreed-boundary doctrine
When owners of adjacent properties uncertain over the true boundary agree to establish the location of their common lot line and acquiesce to the boundary line for at least five years.
alienation
The sale, further encumbrance or lease (for a period exceeding one year) of a property.
amanuensis
An individual who has the oral authority of the grantor to sign a grant deed by their own hand on behalf of the grantor.
amendment clause
A clause contained in covenants, conditions and restrictions (CC&Rs) establishing a procedure for modifying the CC&Rs.
anticipatory breach
When a buyer or seller repudiates the purchase agreement by their words or conduct before closing.
appellate courts
Courts which review trial court decisions to determine whether the proper rules of law were correctly applied.
appropriation right
The right to divert water from a river or watercourse to real estate for reasonable use.
appurtenant easement
A type of easement which is incidental to the ownership and belongs to the property which benefits from its use.
appurtenant rights
Incidental property rights which are not located on a parcel of real estate nor reflected on its title, including the right of ingress and egress across adjoining properties.
arbitrator
A neutral third-party appointed to hear a dispute who is authorized to make a final decision awarding judgment in favor of one of the parties.
attorney fee provision
A provision in an agreement permitting the prevailing party to a dispute to receive attorney fees when litigation arises due to the agreement.
automatic homestead
The dollar amount of equity in a homeowner’s principal dwelling the homeowner is automatically qualified to exempt from creditor seizure. Also known as a statutory homestead exemption.
balancing hardships
The awarding of money to an owner to compensate for lost use of their property burdened with an encroachment.
balancing of the rights
A determination of whether a nuisance exists when an activity is not classified as a nuisance per se.
beneficiary
One entitled to the benefits of properties held in a trust or estate, with title vested in a trustee or executor.
binder
A written commitment of a title insurer to issue a title insurance policy in the future, usually acquired by a buyer intending to resell the described property.
bona fide purchaser (BFP)
A buyer who purchases a property for valuable consideration in good faith without notice or knowledge of pre-existing encumbrances or conditions affecting their right to full ownership.
bond
Written evidence issued by an insurer or guarantor of its obligation to pay the debt of another on a default in a promised performance.
business trust
A type of business entity which is not recognized in California; out-of-state business trusts are required to first qualify as a corporate entity with the Department of Business Oversight (DBO) before doing business in California.
buyout provision
A provision in a limited liability company (LLC) operating agreement which, on termination of a member’s interest, grants the remaining members the right to buy out the terminated member’s interest in the LLC or dissolve the LLC.
cause of action
Facts which are the basis for a claim in a court action.
charging order
An attachment device used by a creditor to place a lien on the ownership interest in a limited liability company (LLC) held by the individual member for the payment of a money judgment, and either appoint a receiver to hold the debtor member’s share or foreclose on the member’s interest in the LLC.
choice-of-law provision
A clause which sets the state law applicable in the event of a dispute.
civil law
A Spanish legal system in which an elaborate system of statutes address permissible conduct of the people in advance of disputes.
claim of right
A claim of ownership made without any documentation, except possession and payment of taxes.
class action
An action against a person brought by or on behalf of all similarly situated claimants.
cloud on title
A claim, encumbrance or condition which impairs the title, not possession, to real estate until eliminated by a release of recorded document, quitclaim deed or a quiet title action.
color of title
Title that has the appearance of validity but has a fatal defect and is ineffective.
common boundary improvement
An improvement which acts as a demarcation of the property line.
common boundary trees
Shrubbery or trees with trunks which stand partly on the land of two adjacent properties belonging to the adjacent owners.
common description
Description of real estate by its street address. Also known as a common address.
common interest development (CID)
Condominium projects, cooperatives or single family residences in a planned unit development.
common law
An English legal system in which disputes are decided on a case-by-case basis before a judge applying codes and prior cases.
community property
All property acquired by husband or wife during a marriage when not acquired as the separate property of either spouse.
conditionally privileged publication
A lawsuit or dispute over a right or interest in real estate made in good faith and without malice, barring a slander of title action.
conservation easement
A voluntary conveyance of the right to keep land in its natural or historical condition to a conservation organization or government agency.
construction lender
A lender that originates a mortgage which funds the construction or development of real estate.
constructive delivery
Delivery of a deed occurring when the deed is understood by the grantor and grantee to be delivered by agreement, or when the deed is accepted by a third-party for the benefit of the grantee.
constructive notice
A legal fiction charging persons who own or acquire an interest in real estate with knowledge of recorded documents affecting title and conditions observable on the property.
constructive trust
An involuntary, court-created trust imposed on the ownership of real estate held by an owner who acquired it through fraud or other wrongful action.
continuing nuisance
An ongoing nuisance that can be entirely eliminated by those adversely affected by the activity or condition.
correlative rights
The sharing of water between riparian land owners based on a tiered variety of priority and subordinate uses across the entire group of riparian owners.
covenants, conditions and restrictions (CC&Rs)
Recorded restrictions against the title to real estate prohibiting or limiting specified uses of the property.
date-down search
A further search of the public records performed by a title insurer after preparing a preliminary title report and immediately prior to issuance of a policy of title insurance.
declaration of homestead
A document signed by a homeowner and filed with the county recorder’s office to shield the owner-occupant’s homestead equity from seizure by creditors.
declaratory relief
An action seeking a judicial declaration of the rights and obligations of parties to a disputed situation.
distribution in kind
Distribution of a limited liability company’s (LLC’s) real estate on dissolution to members as a return of their capital contributions.
documentary transfer tax
A tax imposed on a recorded document when real estate is transferred.
dominant tenement
The property benefitting from an easement on a servient tenement.
due process
A constitutional guarantee of fair dealings between the government and property owners.
easement
The right to use another's property for a specific purpose.
easement by necessity
An easement providing access to a landlocked property.
easement for ingress and egress
A type of easement granting one property owner the right to traverse a portion of another’s land to access the property.
easement in gross
An easement which belongs to an individual and is not appurtenant to a property.
ejectment
A civil action to recover possession or title to land from someone wrongfully in possession.
eminent domain
The right of the government to take private property for public use on payment to the owner of the property’s fair market value.
encroachment
An improvement on one parcel of real estate which extends onto real estate owned by another.
encumbrance
A claim or lien on title to a parcel of real estate, such as property taxes, assessment bonds, trust deeds, easements and covenants, conditions and restrictions (CC&Rs).
equal protection
A constitutional guarantee that similarly-situated persons be treated similarly under the law.
equitable easement
An easement granted to a neighbor allowing them to maintain an improvement encroaching on another owner’s property.
equitable owner
A person who purchased a property and has not yet received legal ownership placing title in their name, such as occurs under a purchase agreement, land sales contract or lease-option sales agreement.
equitable remedies
Non-money remedies based on issues of fairness.
estate
The ownership interest a person may hold in real estate.
exclusion
Risks of loss not covered under a policy of title insurance, comprised of encumbrances arising after the transfer or known to or brought about by the insured.
executive branch
The branch of government which polices the law and establishes regulations to carry out the administration of government as established by the legislature.
expungement
A court order removing from title to real estate the effect of a recorded lis pendens regarding litigation asserting a claim to title or possession of the property.
federal tax lien
A lien recorded attaching to the title of real estate owned by a taxpayer who owes the Internal Revenue Service (IRS) unpaid taxes.
federalism
A form of government in which individual states share powers with a national or central government.
fee estate
An indefinite, exclusive and absolute legal ownership interest in a parcel of real estate.
fixed-term tenancy
A leasehold interest which lasts for the specific lease period set forth in a lease agreement. A fixed term tenancy automatically terminates at the end of the lease period.
fixture
Personal property permanently attached to real estate and conveyed with it.
forfeiture
1) The termination of an easement when the easement holder exceeds their authorized use of the easement by placing an excessive burden on the property encumbered by the easement. 2) Loss of money, rights or anything of value due to failure to perform, a remedy abhorred by the courts.
fraudulent conveyance
A property transfer made for the purpose of avoiding creditors without receiving fair value on the transfer which is voidable.
fully stepped-up cost basis
The tax basis of community property a surviving spouse receives on the death of a spouse is stepped up to the property’s fair market value (FMV) on the date of death.
further-improvements provision
A commercial lease provision which allows a landlord to retain tenant improvements or require the restoration of the property to its original condition upon expiration of the lease.
good faith
Acting innocently and without knowledge of negative effects to someone else.
grant
The transfer of an interest in title to real estate.
grant deed
A document used to pass a fee simple interest in real estate from the grantor to another individual, unless a lesser interest is stated.
grantee
An individual acquiring an interest in title to real estate.
grantor
A individual capable of conveying an interest in real estate.
ground lease
A leasehold interest for which rent is based on the rental value of the land, whether the parcel is improved or unimproved.
guest occupying agreement
The written document which sets the terms of a transient occupancy.
holdover rent
Rent owed by a holdover tenant for the tenant's unlawful detainer of the rented premises as a tenant-at-sufferance.
holdover tenant
A tenant who retains possession of the rented premises after their right of possession has been terminated, called a tenant-at-sufferance.
homestead
The dollar amount of equity in a homeowner’s principal dwelling the homeowner qualifies to shield as exempt from creditor seizure.
implied covenant
An implied warrant the grantor has not previously conveyed or encumbered their interest in the real estate.
implied easement
An easement created by the conduct of parties without prior agreement.
initial conference
The first meeting between a licensee and prospective attorney conducted prior to entering into a retainer agreement where the licensee discusses their real estate dispute and interviews the attorney to determine their professional background, qualifications and compatibility.
inter vivos (living) trust
A title holding arrangement used as a vesting by a property owner for probate avoidance on death.
interstate commerce
The flow of goods and services between and within states.
inverse condemnation
A government taking of privately held real estate interests which does not constitute eminent domain and for which the property owner seeks compensation.
irrevocable license
The right to enter and use property when the specific activity granted by the license is maintained by the licensee's on-going expenditure of money or equivalent labor, and remains feasible.
joint protection (JP) policy
A title insurance policy which enables one or more individuals or entities to be named as insured, usually the buyer and the new mortgage holder.
joint tenancy
An ownership interest in property concurrently received by two or more individuals who share equally and have the right of survivorship.
judgment lien
A money judgment against a person recorded as an abstract and attaching to the title of real estate they own.
judicial branch
The branch of government which settles disputes and issues case opinions regarding the application of the codes, cases and regulations.
jurisdiction
The power of a court to hear a dispute and rule on a legal issue.
laches
An unreasonable delay which bars pursuit of a claim.
lease agreement
The written document which sets the terms of a fixed-term tenancy.
leasehold estate
The right to possess a parcel of land, conveyed by a fee owner (landlord) to a tenant.
legal description
The description used to locate and set boundaries for a parcel of real estate.
legislative branch
The branch of government which enacts the codes and statutes which regulate most aspects of real estate interests.
license
The personal, unassignable right held by an individual to the non-exclusive use of property owned by another.
lien
Interests in real estate which secure payment or performance of a debt or other monetary obligation.
life estate
An interest in a parcel of real estate lasting the lifetime of the life tenant.
lis pendens
A notice recorded for the purpose of warning all persons that the title or right to possession of the described real property is in litigation.
lot line adjustment
When adjacent property owners move an existing property line.
mandatory improvement
An improvement required to be made by the tenant under the terms of the rental or lease agreement.
master lease
A leasehold interest granted to a master tenant with the right to sublease the property in exchange for rent paid to the fee owner.
mechanic's lien
A lien entitling a contractor or subcontractor to foreclose on a job site property to recover the amount due and unpaid for labor and materials they used.
merger
The termination of an easement when one owner acquires fee title to both the property benefitting from and the property burdened by an easement.
misdemeanor
A lesser crime punishable by a fine and/or county jail sentence.
money judgment
An award for money issued by a court resulting from a lawsuit for payment of a claim.
negative covenant
A recorded restriction prohibiting identified uses of a property.
nominal money losses
Monetary recovery when no injury has occurred.
notice of nonresponsibility
A notice used by an owner to declare they are not responsible for any claim arising out of the improvements their tenant is constructing on their property.
nuisance
An action which is injurious to health, offensive to the senses, or obstructs the use and enjoyment of surrounding property.
nuisance per se
Any activity specifically declared by statute to be a nuisance, such as construction of fences of excessive height or the illegal sale of controlled substances.
overlying right
The right of a real estate owner to take the ground water below the surface of their land.
parcel
A three-dimensional portion of real estate identified by a legal description.
partition action
Court proceedings by which co-owners seek to sever their joint ownership and parcel or sell a property.
partnership
A voluntary association of two or more persons to carry on a business or venture on terms of mutual participation in profits and losses.
party wall
A common boundary improvement located on a property line between adjacent properties, such as a wall, fence or building co-owned by the adjacent property owners.
periodic tenancy
A leasehold interest which lasts for automatic successive rental periods of the same length of time, terminating upon notice from either party.
permanent nuisance
A nuisance which cannot be abated at a reasonable cost and by reasonable means.
permissive improvement
A nonmandatory improvement the tenant is authorized to complete without further landlord consent.
personal property
Moveable property not classified as part of real estate, such as trade fixtures.
police power
The basis for enacting local ordinances such as zoning, traffic, health and safety regulations and rent control.
preliminary title report (prelim)
A report constituting a revocable offer by a title insurer to issue a policy of title insurance, used by a buyer and escrow for an initial review of the vesting and encumbrances recorded and affecting title to a property.
prescription
A process for acquiring property rights to use another’s property, such as an easement, through adverse use hostile to the rights of the owner.
prescriptive easement
The right to use another’s property established by the adverse use of the property for a period in excess of five years without a claim of ownership.
prescriptive right
The right to use water established by appropriating nonsurplus water openly and adversely for an uninterrupted period of five years without documentation of a legal right.
profit a prendre
The right to remove minerals from another’s real estate.
proof-of-loss statement
A statement submitted to the title insurance company by the insured referencing the encumbrance discovered after they were issued the policy, the amount of the loss and the basis for calculating the loss.
public nuisance
A nuisance affecting an entire segment of the public.
quiet title
A court action to remove a cloud and establish title to a property.
quitclaim deed
A document used to convey whatever interest, if any, the grantor may hold in the real estate.
ratify
The later adoption or approval of an act performed on behalf of a person when the act was not previously authorized.
real estate
Land and anything permanently affixed or appurtenant to it.
real estate investment trust (REIT)
An entity issuing securities held by investors and traded on the stock market, holding title to income-generating property, trust deeds and treasury bonds.
redemption
A property owner or junior lienholder's right to clear title to property of a mortgage lien prior to the completion of a trustee's sale or following a judicial foreclosure sale by paying all amounts due on the mortgage debt, including foreclosure charges.
referee
An advisor to the court on the feasibility of the division or sale of co-owned real estate.
reformation
A legal process to correct an omission or error in a grant deed by court action.
remote grantee
A future owner of real estate who later takes title to a property, also known as a successor.
rent skimming
When an investor receives rents from a parcel of residential rental property during their first year of ownership and does not apply the rents (or an equivalent amount) to the payments due on all mortgages secured by the property.
rental agreement
The written document which sets the terms and conditions of a periodic tenancy.
rescission
The termination of an agreement or transaction from its inception by mutual consent of the participants to the agreement or transaction, or by one participant based on fraud or misrepresentation of another participant.
restitution
1) The return of possession of the rented premises to a wrongfully removed tenant. 2) A refund to the buyer by the seller on a rescission of a transaction in exchange for the restoration of the property to the seller.
restoration
The return of funds and documents on a rescission of a purchase agreement or transaction sufficient to place all the parties in the position they held before entering into the agreement or closing the transaction.
retainer agreement
A contract entered into between an attorney and licensee specifying the respective responsibilities of each, and the hourly rate, deposit and other fees the attorney charges for legal services.
reversion
The conveyance of real estate fixtures from a tenant to landlord on expiration of a lease.
revocable transfer on death deed (RTDD)
Any document created to transfer real estate without covenant or warranty of title to a beneficiary upon the owner’s death.
right of survivorship
The right of surviving joint tenants or a spouse to succeed to the entire interest of the deceased co-owner.
right-of-way
A privilege under an easement granted by the owner of property giving the owner of another property the right to pass over their property.
riparian land
A parcel of real estate located next to a water source with surface water and within the watershed of the surface water.
riparian right
The right of a real estate owner to take surface water from a running water source contiguous to their land.
Schedule A
Identification of the property interest insured, the legal description of the insured property, the date and time coverage began, the premium paid for the policy and the total dollar amount to be paid for all claims settled.
Schedule B
Exceptions from coverage, both standard and itemized, by the title insurance policy.
secondary easement
An easement on a property which abuts a primary easement and allows the user of that easement to further enter upon the property for purposes of maintaining the primary easement.
security
Collateral for a debt in the form of a lien imposed on property.
servient tenement
A property burdened by a license or easement.
set aside
To annul by court order a document transferring an interest in real estate.
slander of title
False and malicious statements disparaging an owner's title to property resulting in money losses to the owner.
small claims
An informal court proceeding for disputes over amounts of $5,000 or less, or $10,000 or less for individuals.
solar easement
An easement restricting an owner’s ability to maintain improvements interfering with a neighbor’s solar energy system.
specific performance action
Litigation to compel performance of an agreement.
State Water Resources Control Board
Government entity established to ensure the proper allocation and efficient use of state water resources.
statute of limitations
A period of time establishing the deadline for filing a lawsuit to resolve a dispute.
sublease
A leasehold interest subject to the terms of a master lease.
subrogation
The replacement of one person with another in regard to a legal right or obligation.
superior court system
California's trial court system.
Supreme Court
The final court for appeals in both the state and federal court systems.
tenancy-at-sufferance
A leasehold condition created when a tenant retains possession of the rented premises after the tenancy has terminated.
tenancy-at-will
A leasehold interest granted to a tenant, with no fixed duration or rent owed. A tenancy-at-will can be terminated at any time by an advance notice from either party.
tenant improvements
Improvements made to a leased property to meet the needs of the occupying tenant.
tenants in common (TIC)
Co-ownership of real estate by two or more persons who each hold equal or unequal undivided interest, without the right of survivorship.
title insurance
A form of indemnity insurance issued by a title insurance company which holds harmless the named insureds against monetary loss caused by an encumbrance not listed in Schedule B of the policy and not known by the insured when the policy was issued.
trade fixture
A fixture used to render services or make products in the trade or business of a tenant.
transient occupancy
The occupancy of a vacation property, hotel, motel, inn, boarding house, lodging house, tourist home or similar sleeping accommodation for a period of 30 days or less.
transmutation
The transfer of property between separate property and community property or between the separate property interests owned by spouses.
trespass
Any wrongful and unauthorized entry onto real estate in the possession of another.
trespasser
A person who occupies a property without the owner's transfer of the right to occupy.
trial courts
Courts which hear and decide the facts of a case and apply the proper rules of law to resolve the dispute.
trustee
One who holds title to real estate in trust for another.
unlawful detainer (UD)
The unlawful possession of a property.
usufructuary right
The right to reasonable use of water subject to changing circumstances controlling the use of water.
venue
The physical location of the court which has jurisdiction and the correct forum to hear a dispute.
vesting
A method of holding title to real estate, including tenancy in common, joint tenancy, community property and community property with the right of survivorship.
void deed
A deed that is unenforceable and conveys no interest in real estate.
voidable deed
A deed that is valid and enforceable until it is challenged due to a defect and declared invalid by a court order.