Term
| transactional real estate law |
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Definition
| negotiating and drafting documents but not litigation that may arise from the transaction |
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Term
| real estate professionals |
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Definition
| those authorized by state statute to perform many of the real estate tasks that lawyers perform, such as drafting documents and performng searches |
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Term
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Definition
| the marketing and sale of real estate |
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Term
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Definition
| individual licensed by the state or states who assists buyers in obtaining financing from financial institutions |
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Term
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Definition
| acquiring structures for conversion or rehabilitation, acquiring raw, undeveloped ladn; developing a plan to improve the land for residential, commercial, or industrial use; and implementing that plan through the development and construction process and, ultimately by, selling the individual units |
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Term
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Definition
| services to determine whether any deficiencies or defects exist with the structural and mechanical components of real estate |
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Term
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Definition
| insurance insuring the quality of the owenrship after title searches and examinations have bee conducted |
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Term
| unathorized practice of law (UPL) |
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Definition
| the offering of legal advice that affects the legal rights of another without the proper authorization |
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Term
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Definition
| property that is tangible or intangible and that generally is movable |
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Term
| tangible personal property |
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Definition
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Term
| intangible personal property |
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Definition
| property you cannot touch |
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Term
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Definition
| anything that is not personal property |
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Term
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Definition
| items of personal property that once attached to the real property become part of the real property |
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Term
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Definition
| rights that accompany ownership of land |
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Term
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Definition
| the rights that accompany the ownership or possession of land, such as air rights, ineral rights, and riparian (river or stream) rights |
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Term
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Definition
| a term used interchangeable with ownership of real property |
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Term
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Definition
| right to possess or occupy a parcel of real estate |
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Term
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Definition
| the rights in the air above the land |
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Term
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Definition
| subsurface rights, including the right to use or take any of the minerals found in the earth's crust |
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Term
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Definition
| the rights associate with the access to and usage and control of water that flows over land |
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