Real Estate Principles

The intentional and voluntary relinquishment of any ownership interest (such as an easement) or possession of real property

Granting title when property is added to a property by another or a natural action

It is notice that is actually and expressly given or implied

Claiming based on the open and notorious possession and occupancy, usually under an evident claim or right, in denial or opposition to the title of another claimant.

Many different types of statements made before a professional witness

Property accumulated during marriage that is owned equally by husband and wife

A condition that requires certain action or the happening of a specified event before the estate granted can take effect. Example: most installment real estate sale contracts require all payments to be made at the time specified before the buyer may demand transfer of title.

When there is a condition subsequent in a deed, the title vests immediately in the grantee, but upon breach of the condition the grantor has the power to terminate the estate if he/she wishes to do so. Example: A condition in the deed prohibiting the grantee from using the premises as a liquor store.

Notice given by the public records

A group or body of persons established and treated by law as an individual or unit with rights and liabilities or both, distinct and apart from those of the persons composing it. A corporation is a creature of law having certain powers and duties of a natural person. Being created by law it may continue for any length of time the law prescribes.

A conveyance of land by its owner for some public use, accepted for such use by authorized public officials on behalf of the public

The act of receiving a deed

The building of a structure or construction of any improvements, partly or wholly on the property of another. A form of trespass.

The reverting of property to the State when heirs capable of inheriting are lacking

An estate of indeterminable duration, e.g., fee simple or life estate

A voluntary association between two or more people to carry on a business with general and limited partners

A deed in which "grant" is used as the word of conveyance. The grantor impliedly warrants that he has not already conveyed to any other person, and that the estate conveyed is free from encumbrances done, made or suffered by the grantor or any person claiming under him, including taxes, assessments, and other liens.

A handwritten expression of a person's desires as to the disposition of their property after death

A process of law by which the state lays out the correct succession of inheritance when a person dies without leaving a valid will.

Joint ownership by two or more persons with the right of survivorship; all joint tenants own equal interest and have equal rights in the property and are formed at the same time by the same instrument

An estate or interest in real property which is held for the duration of the life of some certain person

An appointed officer with authority to take the acknowledgment of persons executing documents, to sign the certificate, and affix his seal.

The means of acquiring interests in land, usually an easement, by continued use.

The court procedure of proving that a will is valid

A deed to relinquish any interest in property which the grantor may have,without claiming to have an interest

Placing a document in the official records of the county.

An estate which takes effect after the termination of the prior estate, such as a life estate

The right to future possession or enjoyment by the person, or his heirs, creating the preceding estate

An estate of a single entity held by a single person alone

Ownership by two or more persons who hold undivided interest, without right of survivorship; interests need not be equal

A formal expression of a person's desires, witnessed by others, as to the disposition of his or her property after death

a tenant remains in the property after expiration of a lease without the owner's consent