Term
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Definition
| theory under which all property aquired during a marrige is considered to be equally owned by the husband and wife, regardless of the financial contribution of each spouse actually made to the properys acquisition. |
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Term
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Definition
| a form of joint ownership whereby the property owners own their individual units seperately but share ownership of common areas; a building owned in this manner. |
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Term
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Definition
| a form of joint ownership whereby the property owners own shares of stock in a corporation that owns the property and are entitled to cccupy space within the building. |
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Term
| meets and bounds description |
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Definition
| a legal method for descibing the exact boundaries of a property; metes refers to the distances and bounds refers to the directions of the propertys boundaries. |
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Term
| rectangular survey system |
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Definition
| a grid based system used to legally describe the location of a property. |
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Term
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Definition
| a 36 square mile area formed by township and range lines in the rectangular survey system. |
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Term
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Definition
| a right given to another party by a land owner to use a property in a specified manner |
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Term
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Definition
| an unauthorized invasion or intrusion of a fixture building or another improvement onto another persons property |
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Term
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Definition
| the governments power to take private property for public use upon payment of just compensation. |
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Term
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Definition
| restriction or limitaion on owership rights |
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Term
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Definition
| a claim on a property as security for a debt or fulfillment of some monetary change or obligation |
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Term
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Definition
| a claim on a property held by a supplier of materials or labor for nonpayment of a debt. |
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Term
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Definition
| a security interest on all property owned by an individual |
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Term
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Definition
| a security interest that relates only to a specific parcel of real estate. |
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