See: Homestead.

A set of restrictions filed by a subdivider to cover an entire tract or subdivision.

A written acknowledgement by one holding legal title to property that the property is held in trust for the benefit of another.

A determination by a court as to the legal rights of the plaintiff, with no order for relief. The judgement is binding on future litigation.

Depreciation by a fixed annual percentage of the balance after deducting each yearly depreciation amount.

To adorn or add to the beauty of something. Connotes only superficial changes, but in some areas, is used to indicate major repair.

The judgment of a court.

The final determination of the rights of heirs to receive the property of an estate.

Property given by an owner for public use.

The giving by an owner of private property for public use, and the acceptance by the proper public authority. Most commonly the dedication by a builder of the streets in a subdivision.

Actually, any one of many conveyancing or financing instruments, but generally a conveyancing instrument, given to pass fee title to property upon sale.

See: Liber.

See: Deed in Lieu of Foreclosure.

A deed given by an owner/borrower to a lender to prevent the lender from bringing foreclosure proceedings. The validity of the deed depends to some degree on “fairness” under the circumstances, and adequacy of consideration will be considered.

See: Reconveyance.

An instrument used in many states in place of a mortgage. Property is transferred to a trustee by the borrower (trustor), in favor of the lender (beneficiary), and reconveyed upon payment in full.

The common form of deed executed by the grantor(s) only. When the grantee(s) also execute the deed (perhaps to accept certain restrictions or liens), it is an indenture deed (see which).

Limitations on the use of property placed in the conveyancing deed by the grantor, which bind all future owners.

An omission or failure to perform a legal duty.

A judgment entered against a party who fails to appear in court at the scheduled time.

The point at which income producing property fails to carry itself (pay operating expenses and mortgage payments). It is determined by the ratio of occupied units to total units.