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73 Cards in this Set
- Front
- Back
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abandonment
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Abandonment is a tenant's voluntary relinquishment of a premises without the landlord's express or implied consent and with no intention to perform future lease obligations.
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accession
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The process of improvement or addition to property through natural or manufactured means.
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accretion
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The increase or addition of land by the deposit of sand or soil washed up naturally from a river, lake or sea. The gradual and imperceptible addition of land by alluvial deposits of soil through natural causes, such as shoreline movement caused by streams or rivers. This added land upon a bank or stream, navigable or not, becomes the property of the riparian or littoral owner, and it also becomes subject to any existing mortgages. (See littoral rights, riparian rights)
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acknowledgment
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A formal declaration made before a duly authorized officer, usually a notary public, by a person who has signed a document; also, the document itself. An acknowledgment is designed to prevent forged and fraudulently induced documents from taking effect.
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action of declaratory relief
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An action to have a court determine the rights of parties before a violation of rights has occurred.
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action to quiet title
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A court action to remove a cloud on the title.
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administrator
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A male person appointed by the court to settle the estate of a person who has died intestate (leaving no will). Sometimes referred to as the personal representative. (See executor)
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adverse possession
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A method of acquiring title to real property by occupying the property against the interests of the true owner and fulfilling other statutory requirements. The burden to prove title is on the possessor, who must show that four conditions were met: 1. He or she has been in possession under a claim of right. 2. He or she was in actual, open and notorious possession of the premises so as to constitute reasonable notice to the record owner. 3. Possession was both exclusive and hostile to the title of the owner (that is, without the owner's permission and evidencing an intention to maintain the claim of ownership against all who may contest it). 4. Possession was uninterrupted and continuous for at least the prescriptive period stipulated by state law.
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after-acquired title
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Title or interest acquired by the grantor after a property has been conveyed. (See grantor)
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alienation
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The act of transferring ownership, title, interest, or estate in real property from one person to another. Property is usually sold or conveyed by voluntary alienation, as with a deed or assignment of lease. Involuntary alienation takes place when property is sold against the owner's will, as in a foreclosure sale or a tax sale. (See alienation clause)
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alluvium
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Alluvium is the buildup of new soil. Also known as alluvion.
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avulsion
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The sudden tearing away of land, as by earthquake, flood, volcanic action or the sudden change in the course of a stream.
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bequest
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A bequest is the transfer of property (particularly personal property) by will.
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certificate of sale
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Document received by the buyer at an execution or a judicial foreclosure sale; replaced by a sheriff's deed if the debtor fails to redeem the property during the statutory redemption period. (See sheriff's deed)
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chain of title
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The history of conveyances and encumbrances affecting the present owner's title to property, as far back as records are available. (See conveyance)
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codicil
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A supplement or an addition to a will, executed with the same formalities as a will, that normally does not revoke the entire will.
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color of title
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Color of title is the possession of a document that erroneously appears to convey title to an occupant of a real property.
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common-law dedication
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Transfer of private land to public use or ownership, such as a roadway through a subdivision, by permitting such use or referencing the use in deeds to adjoining parcels.
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condemnation
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A judicial or administrative proceeding to exercise the power of eminent domain, through which a government agency takes private property for public use and compensates the owner. (See eminent domain).
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decedent
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A deceased person, particularly one who has died recently.
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dedication
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The voluntary transfer of private property by its owner to the public for some public use, such as for streets or schools. deed A written instrument that, when executed and delivered, conveys title to or an interest in real estate.
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deed
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A written instrument, when executed and delivered, that conveys title to or an interest in real property. The deed is recorded on public record with the property description and the owner's signature. Also known as the title. (See title)
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devise
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A transfer of real property under a will. The donor is the devisor, and the recipient is the devisee.
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devisee
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A devisee is the recipient of a property transferred under a will. (See devise, devisor)
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devisor
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A devisor is the donor of property transferred under a will. (See devise, devisee)
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easement
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The right to a specific use of or right to travel over land owned by another. The land being used or traveled over is the servient tenement; the land that is benefited by the use is the dominant tenement. An easement appurtenant is a property interest belonging to the owner of dominant tenement and is transferred with the land; an easement in gross is a personal right that usually is not transferable by its owner. (See affirmative easement, dominant tenement, easement appurtenant, easement in gross, implied easement, negative easement, servient tenement)
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easement by prescription
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An easement acquired by continuous, open and hostile use of property for the period of time prescribed by state law. (See easement)
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eminent domain
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The right of the government to acquire title to property for public use by condemnation; the property owner receives compensation which is generally fair market value. (See taking)
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equitable estoppel
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The doctrine of equitable estoppel prevents fraud by the present owner of a property and prohibits their refusal to transfer the property.
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erosion
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The gradual loss of soil due to the operation of currents, tides or winds.
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escheat
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The reversion of property to the state or county, as provided by state law, in cases where a decedent dies intestate and there are no heirs capable of inheriting or when the property is abandoned. In some states, bank accounts that are unused for more than seven years will escheat to the government. (See intestate)
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executor
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A male person appointed by a testator to carry out the directions and requests in his or her last will and testament, and to dispose of his or her property according to the provisions of the will. State probate laws generally refer to this person as a "personal representative of the decedent."
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forfeiture
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Breach of a condition subsequent in a deed; entitles grantor or grantor's successor to reacquire title to the property. (See condition subsequent)
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gift deed
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A deed in which the consideration is "love and affection." Because the deed is not supported by valuable consideration, the donee (recipient of the gift) may not be able to enforce against the donor certain promises or agreements contained in the deed. (See deed, donee, donor)
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grant
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A conveyance of real estate.
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grant deed
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A type of deed in which the grantor warrants to the grantee, that he has not previously conveyed the estate, that he has not encumbered the property (except as noted in the deed) and that he will convey any title to the property he may later acquire.
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grantee
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The person who receives a conveyance of real property from a grantor. The grantee must be a person, either natural or otherwise (e.g. corporation, public agency, partnership, etc.) existing at the time of the conveyance and is capable of taking title. (See grant deed
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granting clause
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Words in a deed of conveyance that state the grantor's intention to convey the property at the present time. This clause is generally worded as "convey and warrant," "grant," "grant, bargain and sell" or the like.
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grantor
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The person transferring title, or an interest in real property. A grantor must be competent to convey title. A corporate grantor must have legal existence and be authorized to hold and convey title to real property. The grantor must be clearly identified in the deed.
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holographic will
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A will that is written, dated and signed in the testator's handwriting, but not witnessed. Some states consider a holographic will to be valid even though it was not witnessed, presumably on the theory that the handwriting can be analyzed to verify authenticity and demonstrate competency.
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intestate
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The condition of a property owner who dies without leaving a valid will. Title to the property will pass to the decedent's heirs as provided in the state's law of descent.
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intestate succession
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A succession of a property to the heirs when a person dies without a will.
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inverse condemnation
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A property owner forcing a government to take a property by eminent domain when that government's actions resulted in the owner's inability to use the property. (See condemnation, eminent domain)
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judgment
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1. An opinion or estimate formed after consideration or deliberation, especially a formal or authoritative decision. 2. A determination of a court of law; a judicial decision. 3. A court act creating or affirming an obligation, such as a debt. 4. A writ in witness of such an act.
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judicial foreclosure
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A method of foreclosing on real property by means of a court-supervised sale. In a judicial foreclosure, there is an appraisal, after which the court determines an upset price below which no bids to purchase will be accepted. (See nonjudicial foreclosure, strict foreclosure)
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legacy
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A disposition of money or personal property by will.
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legatee
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A person who receives money or personal property under a will.
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partition
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Co-tenants who wish to terminate their co-ownership may file an action in court to partition the property. Partition is a legal way to dissolve the relationship when the parties do not voluntarily agree to its termination. If the court determines that the land cannot be divided physically into separate parcels without destroying its value, the court will order the real estate to be sold. The proceeds of the sale will then be divided among the co-owners according to their fractional interests. (See co-ownership)
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partition action
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A court proceeding by which co-owners may force a division of the property or its sale, with co-owners reimbursed for their individual shares.
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power-of-sale
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The power that may be given by a promissory note to a trustee, a mortgagee, or another lienholder to sell secured property without judicial proceedings if the borrower defaults.
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power-of-sale clause
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A clause in a mortgage authorizing the holder of the mortgage to sell the property in the event of the borrower's default. The proceeds from the public sale are used to pay off the mortgage debt first, and any surplus is paid to the mortgagor. A power-of-sale clause is also found in trust deeds, giving the trustee authority to sell the trust property under certain circumstances.
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probate
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The formal judicial proceeding to prove or confirm the validity of a will, to collect the assets of the decedent's estate, to pay the debts and taxes and to determine the persons to whom the remainder of the estate will pass. (See decedent, will)
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Probate Code
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The portion of California law that covers the court proceedings for disposition of property on the death of the property owner. (See probate)
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quitclaim deed
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A conveyance by which the grantor transfers whatever interest he or she has in the real estate, without warranties or obligations.
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Real Estate Fraud Prosecution Trust Fund
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Authorized by state law for any county that wishes to establish such a fund to help district attorneys and law enforcement agencies deter, investigate, and prosecute real property fraud crimes; up to $2 may be added to the county's recording fees for such a fund.
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reconveyance deed
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A reconveyance deed, executed by the trustee, is the means by which title is returned to the trustor when a debt is paid in full.
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recorded
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The act of entering into the book of public records the written instruments affecting the title to real property, such as deeds, mortgages, contracts for sale, options and assignments. There is also a body of public records apart from the real estate recording system that has a bearing on the quality of title. A title searcher would also check, for example, public records regarding probate, marriage, taxes and judgments. (See public records)
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reliction
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An increase of the land by the permanent withdrawal of the ocean or a river.
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request for reconveyance
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A beneficiary's notice to a trustee on payment of an underlying debt that title to property is to be returned to the trustor.
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sherrif's deed
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When real property is sold at auction, the buyer receives a sherrif's deed.
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statutory dedication
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Dedication of an easement for public use under the provisions of the California Subdivision Map Act.
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tack
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Adding together successive periods of adverse possession.
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tacking
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Adding or combining successive periods of continuous occupation of real property by adverse possessors. This concept enables someone who has not been in possession for the entire statutory period to establish a claim of adverse possession.
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tax deed
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An instrument, similar to a certificate of sale, given to a purchaser at a tax sale.
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testate
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Having made and left a valid will.
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testator
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A person who has made a valid will. A woman often is referred to as a testatrix, although testator can be used for either gender.
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trust deed
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Also called a deed of trust. A legal document in which title to property is transferred to a third-party trustee as security for an obligation owed by the trustor (borrower) to the beneficiary (lender). A trust deed is similar to a mortgage; the main difference is that it involves three parties. When a borrower repays the note secured by a trust deed, the trustee must reconvey title back to the borrower by way of a deed of reconveyance. (See deed of reconveyance)
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trustee
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1) One who holds property in trust for another as a fiduciary and is charged with the duty to protect, preserve and enhance the value and the highest and best use of the trust property. 2) One who holds property in trust for another to secure the performance of an obligation. In those states using trust deeds as security devices, the trustee holds bare legal title to the property pending the borrower/trustor paying off the underlying debt or promissory note. The trustee is usually a lending institution, trust company or title insurance company. (See fiduciary)
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trustee's deed
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A deed executed by a trustee conveying land held in a trust.
A buyer receives a trustee's deed when they receive a debtor's property through a bankruptcy proceeding to cover a debt. The trustee in bankruptcy carries out this function for the bankruptcy court. |
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warranty deed
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A deed in which the grantor fully warrants good clear title to the premises; also called a general warranty deed. The usual covenants of title are covenant of seisin (possession), covenant of quiet enjoyment, covenant against encumbrances, covenant of warranty forever and covenant of further assurance. A warranty deed warrants the title, not the quality of construction of the real property. A warranty deed is used in most real estate deed transfers and offers the greatest protection of any deed.
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will
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A written document, properly witnessed, providing for the transfer of title to property owned by the deceased, called the testator.
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witnessed will
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A witnessed will is a written document, normally prepared by an attorney, witnessed by a third party, and signed by the testator.
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writ of execution
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A court order authorizing and directing an officer of the court (sheriff, police officer) to levy and sell property of a defendant to satisfy a judgment.
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