The prevention of one from asserting a legal right because of prior actions inconsistent with the assertion.

Old doctrine allowing use, primarily of timber, by a tenant for fuel and repair of his shelter. Not much application in the U.S. today.

And others.

And husband.

And wife.

Latin: meaning “and husband”.

With regard to professions, a code of professional standards, containing aspects of fairness and duty to the profession and the general public.

A court action to remove one from possession of real pro-perty. Most commonly, the removal of a tenant.

A document establishing ownership to property. Most commonly, a deed.

Interest based on a 365-day year, rather than a 30-day month (360- day year).

See: Title Search.

To dig and then remove, leaving a pit or hollow. Used to describe the removal of earth in construction; or coal, copper, etc., in mining.

(1) A pit or other opening which remains after the removal of dirt, minerals, etc., from the surface of the Earth. (2) The process of digging and removal of dirt, minerals, etc., from land.

(1) Specific items set forth in an insurance policy which are not covered by said policy. (2) Any item specifically excluded.

Taking, by right of eminent domain, more property than actually necessary for the intended purpose. This happens frequently, the excess property being sold at auction after completion of the project.

See: Excess Rent.

Rental income (usually under a lease) which exceeds the fair rental value of the property.

See: Excess Condemnation.

A reciprocal transfer of real property which has certain tax advantages over a sale. Definite procedures must be followed in order to qualify the transfer as an exchange.

One who takes title to property to meet the requirements of IRS section 1031 and Treasury Revenue Ruling 2003-37 to facilitate a build to suit exchange or a reverse exchange.

Instrument (contract) used in an exchange. See also: Exchange.