ABATEMENT: A reduction, a decrease, or a diminution. The suspension or cessation, in whole or in part, of a continuing charge, such as rent.
ABSTRACT: A brief summary of the important points of a given instrument.
ABSTRACT CONTINUATION (Also known as abstract extension and also as supplemental abstract.): A partial abstract beginning at the terminal date of an existing abstract and showing instruments recorded between such terminal date and a subsequent date.
ABSTRACT OF TITLE: A summary of transactions affecting the title to a piece of land.
ABUT: To touch or border upon. A piece of land bordering on a street or an adjoining piece of property is said to abut such street or property.
ACCELERATION CLAUSE: A note, bond or other credit agreement clause advancing the date of maturity of a trust deed or mortgage upon the happening of a certain event.
ACCESS RIGHT: Landowner's right to have ingress and egress from landowner's property to a public street.
ACCOMMODATION: An obligation assumed without consideration.
ACCOMMODATION RECORDING: The recordation of an instrument without an assumption of responsibility for the correctness or validity of the instrument.
ACCRETION: An increase of land on a shore or river bank by the gradual deposit of sand or soil by action of the water. (Also, see "Avulsion.")
ACKNOWLEDGMENT: A formal declaration before a duly authorized officer by a person who has executed an instrument that such execution is his act and deed.
ACRE: An area of land containing 43,560 square feet or 4,840 square yards.
ACTION IN PERSONAM: A court action that seeks a judgment against a person as distinguished from a judgment against property.
ACTION IN REM: A court action that seeks a judgment against property to determine its status.
ACTUAL NOTICE: Notice a party receives in fact or in reality.
ADDENDUM: Something which is to be added. An addition or supplement to an agreement.
ADJOINING OWNERS: Owners of two or more parcels of real property the parcels being contiguous to each other.
ADJUDICATION: Judicial determination of a case or controversy.
ADMINISTRATOR: Person appointed by a probate court as representative of a decedent's estate when the decedent left no will.
ADMINISTRATOR CUM TESTAMENTO ANNEXO: The representative of a decedent's estate when no one is named as executor, or when the person named is unable or unwilling to act. (Also, see "Cum Testamento Annexo.")
ADMINISTRATRIX: A woman administrator.
ADVERSE POSSESSION: The unauthorized occupation of land belonging to another, by a person who does not have the consent of the owner. The occupier is said to hold possession adversely to the rights and interests of the owner. In most states, by operation of law, title to the land becomes vested in such occupier after a fixed number of years of actual, open, notorious, exclusive, peaceful and adverse occupancy.
AFFIANT: A person who has made an affidavit.
AFFIDAVIT: A written statement made under oath before a notary public or other judicial officer.
AFTER-ACQUIRED TITLE: Title acquired by a grantor who conveyed land before he owned it.
AGENCY: An individual or corporation authorized to act for another person or corporation. The scope of an agency depends upon the authority given to the agent.
AGENT: One who, having received authority from another, acts in the other person's behalf within the scope of the authority given.
AGREEMENT: A legally binding compact made between two or more persons.
AKA: Also known as.
ALIENATE: To transfer title to real property from one person to another.
ALIENATION: Transfer of title to land from one person to another. It is voluntary alienation if freely made; involuntary alienation when contrary to the owner's desire.
ALL-INCLUSIVE RATE: Rate which includes charges for title insurance, searching or abstract fees and examination fees.
ALLODIAL TENURE: The absolute ownership of real estate which is subject to inheritance by the owner's heirs or to disposition by the owner as he sees fit, as contrasted with the feudal system of ownership. Allodial tenure is characteristic of ownership in the United States.
AMORTIZED LOAN: A loan that is completely paid off, both as to principal and interest, by a series of regular payments that are equal or nearly equal.
ANCILLARY: In addition to.
ANCILLARY ADMINISTRATOR: Administrator appointed in a state other than the decedent's domicile.
ANNUM: Year.
ANTENUPTIAL AGREEMENT: Contract by a man and woman regarding their property, made in contemplation of their marriage. Also called prenuptial agreement.
APPRAISAL: Opinion as to value of property; a conclusion resulting from an analysis of facts affecting fair market value.
APPROVED ATTORNEY: An attorney whose opinion is acceptable to a title company as a basis for issuance of a title insurance policy by the insurer. The insurer, rather than the attorney, executes the policy.
APPURTENANCE: Anything incidental or belonging to land that is considered part of the real property.
APPURTENANT: Belonging to.
ARBITRATION: The process by which parties who cannot agree among themselves submit the dispute to the judgment of an impartial third party.
ASSESSED VALUATION: The estimated value of property for tax purposes, usually fixed by the tax assessor.
ASSESSMENT: (1) The act of fixing the amount of taxes or special improvement charges. (2) The amount of taxes or special improvement charges. Special improvement charges are usually for the costs of streets, sidewalks, sewers, etc.
ASSIGNEE: For example, the person who receives (is assigned) ownership of a contract or a mortgage by transfer from another.
ASSIGNMENT: (1) The act of transferring ownership of something from one person to another. (2) The instrument or paper by which one person transfers ownership of a right or an object to another.
ASSIGNOR: For example, the person who transfers ownership of a contract or mortgage to another.
ASSUMPTION AGREEMENT: Undertaking or adoption of a debt or obligation primarily resting on another person.
ASSUMPTION FEE: Lender's charge for changing over and processing new records for a buyer who is assuming an existing loan.
ASSUMPTION OF MORTGAGE (or DEED OF TRUST): Agreement by a buyer in which he assumes liability for payment of an existing note secured by a mortgage or deed of trust against the property.
ATTACH: The act of a sheriff or other court officer in taking possession of a person or property under the authority and direction of a writ or order issued by a court.
ATTACHMENT: A legal remedy to aid collection of a debt, usually incidental to a lawsuit against the debtor wherein the court issues a writ of attachment under the authority and direction of which the sheriff seizes property of the debtor and holds same pending the outcome of the lawsuit, keeping the property available for sale to pay any money judgment entered in the lawsuit.
ATTESTATION CLAUSE: The clause in a deed or other instrument denoting that certain signatures are those of witnesses to the instrument.
ATTORN: To accept and acknowledge a new landlord.
ATTORNEY'S OPINION OR CERTIFICATE: The written statement of an attorney setting forth what she or he believes to be the condition of a real estate title.
ATTORNEY-IN-FACT: A person who is appointed to act as an agent for another.
AVIATION EASEMENT: An easement over private property which abuts and extends out from the end of airport runways, the easement restricting the graduated height of agricultural crops, bushes, trees and other objects in the take-off and landing path of aircraft.
AVULSION: A sudden and perceptable loss or addition to land by the action of water, or a sudden change in the bed or course of a stream. Black's Law
