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| fixed and immovable; land, houses, building, barns, and fences. Also referred to as realty. |
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| also called personalty, is movable. All property that is not real property; tangable things... automobiles, furniture, clothing. Intangible such as stocks and bonds |
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| French meaning thing; an item of personal property; personal chattel or article of personalty |
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| a personal right not reduced to possession but recoverable by a lawsuit; a promissory note cuz the holder has a right of action for the amount of money named in it. |
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| a personal thing in the possession of a person; all personal chattels that are not ___________ are choses in action. |
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| an item of personal property; furniture, cars, livestock, cut trees; movable property |
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| an instrument in writing that transfers the title to personal property such as security for a debt |
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| evidence of legal ownership of property, especially real property; valid claim or right of ownership; a deed is a ____ |
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| a piece of real estate; signifies lands and tenements; place and territory; a distinct and definite locality |
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| items permanently affixed to real property; if an article would be destroyed by removing it from a building... it is ____ |
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| charge imposed on property by which the property is made security for a debt. |
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| written instrument, signed, sealed, and delivered, transferring title to real property from one person, called the grantor, to another person, called the grantee; must be in writing; becomes effective upon delivery |
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| Two principal kinds of deeds |
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| conveys whatever interest a grantor has in the property; similar to a release or the giving up of a right or claim; grantee only receives what the grantor had to convey interest in |
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| guarantees that the person transferring real property has a good and complete title to the property; guarantees property to be free of encumbrances; also called full covenant deed |
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| ________ an instrument gives notice to all persons what the rights of the grantee under that paper are. Used to prevent fraud |
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| can be held with unrestricted rights of disposition; the greatest possible interest in real estate. |
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| a person and his or her heirs own land absolutely without any limitations |
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| complete, absolute ownership of land |
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| an estate by way of inheritance to an individual only and to heirs of his or her body only; restricts the tranfer of real estate. |
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| in a deed gets its name from Latin phrase, habendum et tenendum, to have and to hold; to define the extent of the interest conveyed |
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| the closing clause of a legal instrument immediately preceding the signature lines; usually introduced "in testimony whereof," or "'in witness whereof," followed by "the parties to these presents...."; used in legal instruments of conveyance |
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| one that may be revoked or undone upon a later condition or the happening of a future event; liable to be made void, but not already so; one capable of being forfeited |
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| incomplete or deficient in some respect that is required by law; the title of a person who secured it through duress or fraud; a title imperfect cuz it contains a defect or defects. |
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| the permanent residence of the head of a family, together with the land and buildings surrounding the main house |
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| meaning trahere, meaning to draw; a digest or synopsis of written material; a condensed or abridged version drawn from a treatise or writing |
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| summary of the successive title deeds to a piece of real estate |
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| drawing or plan of a piece of land |
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| growth in size by addition or accumulation |
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| synonym of accretion; natural increase or addition to property, such as growth of crops, birth of young cattle; addition to property by improvements or natural growth |
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| detailed identification of a tract or parcel of land; contained in legal instruments such as a lease, a deed, and mortgage; identifies and describes realty that may be the subject of a conveyance |
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| the boundary lines of land with their terminal points and angles |
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| the governemnt may take a person's property, even without his or her consent, upon condemnation and payment of a fair price for the land |
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| the taking of private property for public use in return for fair compensation; a sentence judgment condemning someone to do, give, or pay something |
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| property owned by the government |
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| a right or privilege that a person has in the land of another, without remuneration or profit |
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| riparian - (Latin - ripa) |
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| a bank; the bank of a river or freshwater stream; special rights associated with land lying on the bank of a river is ______ land |
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| littoral (Latin - littus) |
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| seashore; land that ajoins lakes, both large and small, as opposed to running water; land lies along the shore |
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| debt secured by chattels or land; land is pledged as security for a loan |
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| deposit of something with a 3rd person to be held until some condition is met |
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| to pledge property to another as security; stocks, bonds, insurance policies, or other negotiable securities may be ______ to secure payment; property put in pawn to secure funds |
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| the process of apportioning an amount to be paid as taxes or damages; the valuation of a person's property for taxation; a payment asked on a stock subscription to be paid at stated intervals |
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| an essential part of contracts evidencing a debt, such as mortgage, which provides that if the interest or any installment is not paid when due, the entire debt becomes payable at once; makes the balance immediately due upon a debtor's default |
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| 2nd word means value; to tax a thing in accordance with its value is to assess an ___ ___ tax; to express in proportion to the value |
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| half of something; one of two equal parts |
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| a going out, emergence, the right to go out, a way out; refers to an exit from property |
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