Ohio Real Estate

Front 1

Abandonment

Back 1

The failure to occupy and use property which may result in a loss of right

Front 2

Abstract of title
Compare: Title Report

Back 2

A brief, chronological summary of the recorded documents affecting the title to a particular parcel of real property.

Front 3

acceptance

Back 3

1. Agreeing to the terms of an offer to enter into a contract, thereby creating a binding contract. 2. Taking delivery of a deed.

Front 4

Case law

Back 4

Rules of law developed in court decisions.

Front 5

Civil litigation

Back 5

A lawsuit in which one individual sues another for compensation.

Front 6

Criminal litigation

Back 6

A lawsuit in which the government sues an individual to punish wrong doing and protect society.

Front 7

Damages

Back 7

Money a defendant is ordered to pay the plaintiff.

Front 8

Due process

Back 8

A fair hearing by an impartial judge (required by the Constitution before an individual can be deprived of life, liberty, or property).

Front 9

Precedent

Back 9

A previously decided case concerning the same issues as a later case.

Front 10

Pretrial discovery

Back 10

Using depositions and interrogatories to learn more about the disputed facts from the opposing parties and reluctant witnesses.

Front 11

Settlement

Back 11

When a defendant pays the plaintiff a sum of money (or agrees to do something or refrain from doing something) so the plaintiff will drop the lawsuit.

Front 12

Stare decisis

Back 12

The doctrine that requires judges to follow precedent, to make the law consistent and predictable.

Front 13

Tort

Back 13

A breach of the standards of reasonable conduct imposed by law.

Front 14

Blockbusting

Back 14

Trying to induce owners to sell their homes by suggesting that the ethnic or racial composition of a neighbohood is changing, with the implication that property values will decline. Also called panic selling or panic peddling.

Front 15

Disparate impact

Back 15

When a law that isn't discriminatory on its face has a greater impact on a minority group than it has on other groups.

Front 16

Exclusionary zoning

Back 16

A zoning law that has the effect of preventing certain groups (such as minorities or poor people) from living in a community.

Front 17

Familial Status

Back 17

A protected group under the Federal Fair Housing Act and the Ohio Civil Rights Act, making it illegal to discriminate against a person because he or she is the parent or guardian of a child under 18 years of age.

Front 18

Mrs. Murphy Exemption

Back 18

An exemption to the Federal Fair Housing Act for an owner occupied dwelling of four units or less, provided the owner occupies one unit, does not use discriminatory advertising and does not use a real estate agent.
Ohio does not recognize this exemption.

Front 19

Redlining

Back 19

Refusal to make loans on property located in a particular neighborhood for discriminatory reasons.

Front 20

Steering

Back 20

Channeling prospective buyers or tenants to particular neighborhoods based on their race, religion, or ethnic background.

Front 21

Title VIII

Back 21

Another name for the Federal Fair Housing Act, which is Title VIII of the Civil Rights Act of 1968.

Front 22

Appropriative rights

Back 22

Water rights granted by government permit, and not dependent on ownership of riparian property.

Front 23

Appurtenance

Back 23

A right that goes along with ownership of real property.

Front 24

Constructive annexation

Back 24

When personal property is associated with real property in such a way that the law treats it as a fixture, even though it is not physically attached to the real property.

Front 25

Doctrine of emblements

Back 25

Allows a tenant farmer to reenter the land to harvest crops that he or she planted, but which mature after the tenancy ends.

Front 26

Fixture

Back 26

An item of personal property that has been attached to or closely associated with real property in such a way that it's legally become part of the real property.
A major fixture, such as a building, is called an improvement.

Front 27

Fructus industriales

Back 27

Plants and trees cultivated by people.

Front 28

Fructus naturales

Back 28

Naturally occurring plants and trees.

Front 29

Natural Attachments

Back 29

Plants rooted in the earth which are considered real property.

Front 30

Riparian rights

Back 30

The water rights of a landowner whose property adjoins a river, lake, or other body of water (also encompasses littoral rights, which are technically different, but covered by the more common term riparian rights).

Front 31

Rule of Capture

Back 31

Rule that states a landowner owns all the oil and gas produced ("captured") by a well drilled on his or her land.

Front 32

Trade fixture

Back 32

Equipment or other personal property which a tenant has installed for business purposes and which may be removed at the end of the tenancy.

Front 33

Adverse possession

Back 33

When someone acquires title to property by occupying it without the owner's permission for more than 21 years.

Front 34

Dower

Back 34

A special real property interest which the law provides as a statutory life estate to a spouse when a married person owns real property in Ohio.

Front 35

Easement

Back 35

A right to use another person's real property for a particular purpose.

Front 36

Encumbrance

Back 36

A nonpossessory interest, such as an easement or lien, that burdens the property owner's title.

Front 37

Estate

Back 37

A possessory interest in real property.

Front 38

Fee simple

Back 38

An inheritable, transferable, perpetural ownership ownership interest.
Fee= I own it.
Simple= Forever.

Front 39

Foreclosure

Back 39

When a lien holder causes property to be sold, so that the unpaid debt secured by the lien can be satisfied from the sale proceeds.

Front 40

Freehold estate

Back 40

A possessory interest of uncertain duration.

Front 41

Leasehold estate

Back 41

An interest that gives the holder, the tenant, a temporary right to exclusive possession of the estate, without title.

Front 42

Lien

Back 42

A financial claim against real property, allowing the holder to foreclose if a debt is not paid.

Front 43

Life estate

Back 43

An ownership interest that lasts only as long as a specified person lives.

Front 44

Reversionary

Back 44

Goes back

Front 45

Remainder

Back 45

Goes on

Front 46

Estate for year

Back 46

Any leasehold estate for a fixed time period. Also called term tenancy.

Front 47

Periodic tenancy

Back 47

A leasehold estate for a duration which is not limited to a specific term.

Front 48

Acknowledgment

Back 48

When a party signs a document before a notary, stating that it was signed voluntarily.

Front 49

Actual notice

Back 49

Having actual knowledge of a fact.

Front 50

Alienation

Back 50

Legal term that encompasses all the different methods of transfer, voluntary and involuntary.

Front 51

Attestation

Back 51

When witnesses sign a legal document to affirm that the parties' signatures are genuine.

Front 52

Consideration

Back 52

Anything of value, which as money, goods, services or promises, which is given to induce another person to enter into a contract.

Front 53

Constructive notice

Back 53

Having knowledge of a fact imputed to a person by law; in other words, a person is held to have notice of a fact because it was a matter of public record, even if the person wasn't actually aware of it.

Front 54

Deed

Back 54

An instrument that conveys grantor's interest, if any, in the real property.

Front 55

Donative intent

Back 55

Grantor's intent to transfer title immediately and unconditionally.

Front 56

Inquiry notice

Back 56

Having notice of a problem because circumstances should have alerted that person to a problem which needed to be investigated further.

Front 57

Severalty

Back 57

Ownership by one individual.

Front 58

Title

Back 58

The actual lawful ownership of real property. (This is NOT a document, but rather a concept or theory dealing with ownership.)

Front 59

Undivided interest

Back 59

Gives each co-owner the right to possession of the whole property, not just a fraction of it.

Front 60

Attestation

Back 60

When witnesses sign a legal document to affirm that the parties' signatures are genuine.

Front 61

Consideration

Back 61

Anything of value, such as money, goods, services or promises, which is given to induce another person to enter into a contract.

Front 62

Constructive notice

Back 62

Having knowledge of a fact imputed to a person by law; in other words, a person is held to have notice of a fact because it was a matter of public record, even if the person wasn't actually aware of it.

Front 63

Deed

Back 63

An instrument that conveys grantor's interest, if any, in the real property.

Front 64

Donative Intent

Back 64

Grantor's intent to transfer title immediately and unconditionally.

Front 65

Inquiry notice

Back 65

Having notice of a problem because circumstances should have alerted that person to a problem which needed to be investigated further.

Front 66

Severalty

Back 66

Ownership by one individual.

Front 67

Title

Back 67

The actual lawful ownership of real property. (This is NOT a document, but rather a concept or theory dealing with ownership.)

Front 68

Undivided interest

Back 68

Gives each co-owner the right to possession of the whole property, not just a fraction of it.

Front 69

Administrator

Back 69

Court appointed party who carries out the statutory distribution of property in an estate of a person who died without a will.

Front 70

Bequest

Back 70

A willed gift of personal property.

Front 71

Devise

Back 71

To transfer real property as a gift by will; also used as a noun to refer to the real property itself which is transferred by a will. The recipient is a devisee.

Front 72

Escheat

Back 72

When someone's property passes to the state, because he or she died without a valid will and without heirs.

Front 73

Executor

Back 73

One appointed by a will to carry out the deceased's wishes.