Real Estate Key Terms
Chapter-1
Abstract of title:-An abstract of title is a historical summary of the publicly recorded documents that affect a title. The abstract of title lists all of the legal actions that have been performed or used in conjunction with a piece of property.
Deed:-Deed is a legal document that grants the bearer a right or privilege, provided that he or she meets a number of conditions. Usually title is conveyed from one person (the grantor) to another (the grantee) by means of a written instrument called a deed.
Deed restrictions:-Deed restrictions are private agreements that restrict the use of the real estate in some way, and are listed in the deed. The seller may add a restriction to the title of the property. A deed restriction is a clause in a deed that limits the use of land. Deed restrictions placed within a deed control the use of the property.
Estate:-Estates are all of the valuable things an individual owns, such as real estate, art collections, collectibles, antiques, jewelry, investments and life insurance.
Estate for Years:-The most significant feature of an estate for years is that it must be of definite duration, that is, it is required to have a definite beginning and a definite ending. Estate from Year to Year:-The essential distinguishing characteristic of an estate from year to year is that it is of indefinite duration.
Fee Simple Estate:-In English law, a fee simple estate is an estate in land, a form of freehold ownership. It is the way that real estate is owned in common law countries, and is the highest ownership interest possible that can be had in real property. The property owner is entitled to full enjoyment of the property, limited only by zoning laws, deed or subdivision restrictions or covenants.
Freehold Estate:-A freehold estate is one where the duration of ownership is indeterminate, which could be for a lifetime of an individual or an unlimited duration. A freehold estate is the exclusive right to enjoy the possession and
Abstract of title:-An abstract of title is a historical summary of the publicly recorded documents that affect a title. The abstract of title lists all of the legal actions that have been performed or used in conjunction with a piece of property.
Deed:-Deed is a legal document that grants the bearer a right or privilege, provided that he or she meets a number of conditions. Usually title is conveyed from one person (the grantor) to another (the grantee) by means of a written instrument called a deed.
Deed restrictions:-Deed restrictions are private agreements that restrict the use of the real estate in some way, and are listed in the deed. The seller may add a restriction to the title of the property. A deed restriction is a clause in a deed that limits the use of land. Deed restrictions placed within a deed control the use of the property.
Estate:-Estates are all of the valuable things an individual owns, such as real estate, art collections, collectibles, antiques, jewelry, investments and life insurance.
Estate for Years:-The most significant feature of an estate for years is that it must be of definite duration, that is, it is required to have a definite beginning and a definite ending. Estate from Year to Year:-The essential distinguishing characteristic of an estate from year to year is that it is of indefinite duration.
Fee Simple Estate:-In English law, a fee simple estate is an estate in land, a form of freehold ownership. It is the way that real estate is owned in common law countries, and is the highest ownership interest possible that can be had in real property. The property owner is entitled to full enjoyment of the property, limited only by zoning laws, deed or subdivision restrictions or covenants.
Freehold Estate:-A freehold estate is one where the duration of ownership is indeterminate, which could be for a lifetime of an individual or an unlimited duration. A freehold estate is the exclusive right to enjoy the possession and