IDEM
SONANS:
The doctrine that, if any two names may be sounded
alike, any variance in spelling is immaterial.
IMPROVEMENT
LIENS:
Liens imposed by municipalities on real estate
which has been directly benefitted by municipal
improvements such as the construction of streets,
sidewalks and sewer lines. Such liens secure payment
of the proportionate costs of such improvements.
IN
GROSS EASEMENT:
A right in another's land not created for the
benefit of any land owned by the easement holder.
It is a personal right attached to the person
of the easement holder.
IN
PERSONAM:
Against the person.
IN
RE:
In the matter of.
IN
REM:
Against a thing (property) and not against a person.
INCHOATE:
Immature; not fully developed; an early stage;
incomplete; only partially existing. An inchoate
right of dower held by a wife matures and becomes
exercisable only upon the death of her husband.
INCOMPETENT:
Person who is incapable of managing his own affairs
because of a disability.
INCORPOREAL:
Having no material substance or form, but existing
in the eyes of the law.
INDEMNITY:
Insurance against possible loss or damage. A title
insurance policy is a contract of indemnity.
INDENTURE:
A deed or other real estate contract executed
between two or more parties.
INDEX:
(1) An alphabetical or geographical listing in
the public records of the names of parties to
recorded real estate instruments together with
the book and page number of the record. (2) The
listing in abstract and title plants of recorded
real estate instruments in groups according to
land descriptions, known as a geographic index.
(3) The alphabetical listing in abstract and title
plants, by names of the parties, of all recorded
instruments which affect but do not describe particular
real estate, such as judgments, powers of attorney,
wills and probate proceedings. These indexes are
known by various names such as general index,
judgment index, and name index.
INDORSEMENT:
See "Endorsement."
INGRESS:
The right or permission to enter; also the means
or place of entry such as a right-of-way across
adjoining land.
INSTALLMENT
CONTRACT:
A real estate purchase agreement providing for
the payment of the purchase price in several successive
payments such as monthly payments. A land contract
is an installment contract.
INSTRUMENT:
Any written document by which something is done
regarding rights or interests in real estate.
INSURABLE
INTEREST:
Interest in property of such a nature that the
occurrence of the event insured against would
cause financial loss to the insured. The interest
may be that of an owner, mortgagee, lessee, trustee,
etc.
INSURER:
One that insures, sometimes called an underwriter,
such as a title insurance company.
INTANGIBLE:
Incorporeal; something that does not have material
or physical existence. An example is an asset
such as the goodwill of a business as compared
with the stock-in-trade.
INTERESTS:
Estates, rights, or legal claims in and to real
estate.
INTERIM
LOAN:
Short term loan usually made during construction
of a building. After completion of the structure,
a permanent loan (takeout loan) is customarily
arranged.
INTESTATE:
Dying without leaving a legal will. The intestate
laws are the laws of distribution of the estate
of a deceased person who dies without a will.
INTRA:
Within.
INURE:
To serve to the use or benefit of.
INVOLUNTARY
LIEN:
Those liens in which a parcel of land is, by operation
of law, put up as security for the payment of
a debt.
IPSO
FACTO:
Of itself; by the very fact.
