Texas Real Estate

Land, improvements attached to the land, and the rights to use them.

Anything not classified as real property, a right or interest in things of a temporary or movable nature.

Personal Property

Personal Property

Personal property that has been installed or attached to become real property.

The process of attaching personal property so that it becomes real property thus creating a fixture.

Real property becomes personal property when it is "severed" from the land.  Uninstall, unattach.

Personal property installed on leased property for the purpose of the tenant's occupation or profession.

Gaining title to improvements as a result of the annexation of fixtures.

Nonhomogeniety, immobility, indestructibility.

A physical characteristic of land stating no two pieces are exactly alike.

A physical characteristic of land stating that land cannot be moved - an owner must go to the land.

A physical characteristic of land that land will always be there - it is durable.

Scarcity, Modification, Situs, Fixity.

An economic characteristic of land stating that a short supply where demand is great will cause an increase in value - usually based on geography.

An economic characteristic of land stating that improvements made by man will alter the value of the land and surrounding properties.

An economic characteristic of land stating that location preference from an economic standpoint can cause increased value - location, location, location.

An economic characteristic of land stating that land, buildings and improvements are considered a fixed investment - not liquid assets.

A description of such certainty and accuracy that one can go to the ground and identify the land - a description prepared by surveyor.

A legal description of land having a point of beginning, using terminal points and angles, degrees and minutes to outline a property.

A legal description of land based on a recorded map of a subdivision called a plat.

Permanent surveyor markers - natural or manmade.

A legal description  of land using base lines, meridians, townships, sections, and ranges - also called the Government Survey System

A legal description of land using base lines, meridians, townships, sections, and ranges - also called the Rectangular Survey System

Part of the Government Survey System consisting of 36 sections.

Part of the Government Survey System consisting of 640 acres or one square mile

A measure of land - 43,560 square feet

A map of a town, section or subdivision

A map of a single property site, also called a lot or a parcel

A single piece of property, also called a plot or a parcel

A single piece of property, also called a plot or a lot

Improvements constructed or built on the land - not prefabricated

Improvements constructed or built in a controlled environment and then transported to the land and installed on the land - prefabricated, manufactured or modular buildings

A limitation on the rights of a property owner

An encumbrance that caused doubt as to the validity of title and can prevent sale or transfer of title

The legal method of removing an encumbrance - to release it or get a release

A charge against property as security for a debt

A lien created by the borrower's choice - taking out a mortgage or home improvement loan

A lien created by an outside source - law, court

A lien attaching to only one or more listed or specific properties

A lien attaching to all the property of a debtor not exempt from forced sale

A lien created by statutory law, (legislation) - taxes, judgments, etc.

A lien created by common law, (through the courts)

A lien created by seller financing

A lien used to protect a buyer who has paid and not received a deed

A court order to enforce payment of a lien

A lien on real property to secure payment for work or materials used to improve the property - an M&M lien

When a grantor withholds title to a part of the land transferred by a deed

Structures or improvements of one property overlap onto another's property

A right in land granting limited use or enjoyment of another's land

Express or implied grant, agreement, reservation, limitation or prescription, necessity, condemnation

Release, merger - also called acquiring the adjacent property, abandonment

Written or spoken

By actions or evidence but not written or spoken

An easement kept or reserved by a grantor when selling property to a grantee

An easement negotiated by the property owner and the party in need of the easement

An easement acquired by constant use without permission for a required number of years - usually 10 - also called easement by limitation or prescriptive easement

An easement granted by the courts to a landlocked property owner who is unable to gain access an other way

A property surround by other properties in such a way that there is no legal access

Easement acquired by the government under the right of Eminent Domain - for use by the government, utilities or railroads

An easement that runs with the land - whoever owns the land owns the easement

An easement that belongs to an individual or corporation regardless of ownership of the land - for example - a utility easement

Property that benefits from an easment appurtenant

Property that is limited by an easement appurtenant

Permission to use another's property for a particular reason - for example a theater ticket

Acquiring title to another's property by occupancy that is hostile, actual, continuous, visible and distinct for the statutory period - "squatter's rights"

An interest is real property

A period of time with no set termination date - ownership or the freehold estate is of indeterminate length

Ownership of real property

A term used to describe an owner's legal rights in land - right to sell, lease, occupy, etc.

Ownership with the greatest bundle of rights - the owner has all available rights to the property and can always pass it to his heirs - also called fee simple absolute

Ownership with terms or conditions which if violated could cause the ownership to be defeated or terminated

Ownership with terms or conditions which if violated could cause the ownership to be defeated or terminated

Ownership with terms or conditions which if violated could cause the ownership to be defeated or terminated

Ownership with terms or conditions which if violated could cause the ownership to be defeated or terminated

Ownership for the duration of one's life - cannot be willed to heirs

Owner of a life estate

Person who becomes the owner of property at the end of a life estate, the remainderman has fee simple

For another's life - a life estate held by one party for the life of another

A life estate set up so that at the end of the life estate the property goes back to the original owner

Ownership by one person, one corporation, one partnership

Ownership by one person, one corporation, one partnership

A partner who share full responsibility and full liability

A partner whose liability is limited to the amount of his investment and who is usually not involved in day-to-day operations of the partnership

Ownership by two or more parties without rights of survivorship  - unequal share are permitted - upon the death of the owner property passes to heirs at probate

Ownership by two or more parties with rights of survivorship - must be equal shares - property passes to surviving co-owners immediately upon the death of any owner thus avoiding probate

A characteristic of joint tenancy - upon one owner's death his share passes to surviving co-owners - heirs have no claim on the property

Joint Tenancy

Legal procedure to divide the c-owner's interests in real property

Property held by one party for the benefit of another

Two or more parties join together to create and operate a real estate investment

Joint tenancy where the co-owners are husband and wife

An interest in real property giving a party possession without ownership

A leasehold with a specific starting and ending date - it survives death or the sale of the property

A lease that automatically renews for like periods unless one party acts to terminate it

A lease that can be terminated by either party at will, without notice

A tenant who continues to occupy property after the lease has expired

The interest in a property held by a holdover tenant who is not paying rent

The interest in a property held by a holdover tenant who is paying rent

An interest in real property created by law

A statutory estate - all property acquired after a marriage is jointly owned by the husband and wife

The residence property of a landowner