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10 Cards in this Set
- Front
- Back
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Transmutation |
The transfer of property between separate property and community property or between the separate property interests owned by spouses |
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Trustee |
One who holds title to real estate in trust for another |
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Beneficiary |
One entitle to the benefits of properties held in trust or estate with title vested in a trustee or executor |
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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 |
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Real Estate Investment Trust (REIT) |
An entity issuing securities held by investors and traded on the stock market, holding to income-generating property, trust deeds and treasury bonds |
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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 |
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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 |
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Partnership |
A voluntary assosiantion of two or more persons to carry on a business or venture on terms of mutual participation in profits and losses |
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Alienation |
The sale, further encumbrance, or lease (For a period exceeding one year) of a property |
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Partition Action |
Court proceedings by which co-owners seek to sever their joint ownership and parcel or sell the property. |
