The act (or documentation of the deed) of transferring title to property from one party to another. Certified declaration of ownership of the land, based on verification of the title of the registration. Real estate land consisting of an undivided common interest in part of land or land and a separate interest in land, residential, industrial or commercial building. It may include a separate interest in another part of the property. The estate can be either 1) an estate or perpetual estate, 2) a lifetime estate, or 3) an estate for years, including a hereditary building right or sublease. Contract – This is the legal document that confirms the sale/purchase of the property. Usually, the seller`s lawyer/promoter prepares the contract and sends it to the buyer`s carrier. Once the terms are approved by both carriers, the seller and buyer each sign their own copy and are exchanged to legally bind the parties. A group of persons created by law as a legal entity with powers and capabilities to enter into contracts, own, control, transfer property and conduct business activities within the limits of the powers granted. One of the many types of deeds used to transfer real estate. A deed of award contains guarantees against previous transfers or charges. The right of an individual to certain property only during his lifetime.
He or she cannot sell or develop the land to anyone else. After the death of the person, the title passes according to the law or document that created the interest of life. American widows were often interested all their lives in a part of their late husband`s land (dowry). The right of a government to take private property against payment of its fair value for public purposes in the context of a conviction trial. (See “Sentencing.”) Maturity on sale – the concept of accelerating the term of a loan when the mortgagee/borrower sells or transfers an interest in a mortgaged property before the contractually agreed maturity date of the loan. A civil injustice, not a criminal one. A negligent or intentional breach of person or property, other than breach of contract. A contract between the buyer and seller for the purchase and sale of land, whereby the purchase price is generally payable in installments over a longer period of time. The seller (seller) owns the legal property and the buyer (buyer) holds fair ownership until the sale price is paid in full. An agreement to create or transfer a legal asset, such as a call option.
A rental of real estate where the rental is based on the volume of sales made by the tenant on the rented property. Transfer – This is the old-fashioned name for the document that transfers ownership of a property. This term is rarely used today and the document is now called Transfer Deed or TR1. If a title to a property does not mention the correct owner or if a charge is found on the title that is not clearly stated in the deed. Charges include judgments or privileges. A declaration by a debtor under Chapter 7 regarding plans for dealing with consumer debts secured by estate assets. A Planned Unit Development (“PUD”) is a project where buildings are typically constructed in styles sometimes referred to as “bundled apartments.” PUD is a concept by which apartments, usually a group of townhouses, terraced houses or townhouses, are built with minimal floor space or courtyards around each apartment. The soil that would normally form the yard of each dwelling is consolidated into a larger recreational area or green belt. This area typically includes all sidewalks, driveways, and parking spaces. Individual apartments and possibly a small terrace, flower bed or similar minimal personal auxiliary use that can be owned with the residence are individually owned. All ancillary properties such as recreational areas, green belts, sidewalks and others (“common areas”) are owned by third parties as an undivided interest, usually indirectly.
Due to typical divisions of land ownership, unit owners are granted easements (which run with the land), food source, exit, parking, and recreational use via the common area; Otherwise, the units would be inland. The study of the law and structure of the legal system Two or more persons who jointly own real estate, with equal rights to share their enjoyment during their respective lives, provided that after the death of a roommate, his share of the property passes to the surviving tenants, and so on, until full title is transferred to the last survivor. A roommate cannot legally sell or encumber his or her interest without the consent or endorsement of all other roommates. New Construction – This is a newly built property that is purchased for the first time by the builder or developer. Financial advisor – The financial advisor, commonly referred to as a mortgage broker, is the person who helps a buyer obtain funds for the purchase, usually in the form of a mortgage on the property. He/she often also takes out life insurance, mortgage protection insurance, etc. Device – personal property that is permanently attached or fixed to real estate, so that it is considered an integral part of the property. Deed of Mortgage – This is the document that the borrower signs to accept the terms set out in the mortgage offer and confirms that the borrowers accept the lender`s rights to the property.