See: Eleemosynary Corporation.

A loan not allowing for a deficiency judgement. The lender’s only recourse in the event of default is the security (property) and the borrower is not personally liable.

An expense which does not usually repeat itself, such as a fire or other natural disaster.

See: Wear and Tear.

The edge of a step which projects over the riser below.

One who is authorized by the state or federal government, to administer oaths, and to attest to the authenticity of signatures. A federal authorization may extend the authority to attest to the authenticity of certain documents, and to act as a notary in foreign countries.

A unilateral agreement containing an express and absolute promise of the signer to pay a named person, or order, or bearer, a definite sum of money at a specified date or on demand. Usually provides for interest and, concerning real property, is secured by a mortgage or trust deed.

The rate of interest set forth on a note. The note creates the promise to repay the debt; the mortgage uses the real estate to secure the promise to repay.

See types of notice: Actual; Constructive; Statutory.

A recorded notice that property may be subject to a lien, or even that the title is defective, due to pending litigation. Notice of a pending suit. Also called “Lis Pendens”.

A notice stating that work has stopped on a construction project. Done to accelerate the period for filing a mechanic’s lien.

A notice filed to show that the borrower under a mortgage or deed of trust is in default (behind on payments).

A notice filed by an owner of property to show that work being done has not been contracted for by said owner. If properly done, mechanic’s liens will not attach to the property. Often done when a tenant contracts for work on property.

A recorded notice to rescind a notice of default of a mortgage or deed of trust.

A notice by a landlord to a tenant to vacate rented property. There are two types; for nonpayment of rent or a second type for any reason. Usually the notice for nonpayment allows less time to vacate.

A requirement for adverse possession. Possession so open (notorious) that the owner is presumed to have notice of it and its extent.

A contract that releases the obligation of a party to an existing contract and substitutes another party. Differs from assignment or delegation in that all parties must agree and an assignor or delegator is not released of obligation.

See: Negotiable Order of Withdrawal.

See: National Priorities List.

A use of property which interferes with the use and enjoyment of other property by excessive noise, odors, fumes, or other harmful or unpleasant emissions.