A court action which may be filed in an existing case or be the initial action. One holding funds which are in dispute, but not having an interest in the funds, would file an interpleader. For example: An escrow agent is holding a deposit of a buyer which funds both buyer and seller claim to be entitled. Escrow is willing to give the funds to either buyer or seller but does not want to be liable for giving the funds to the wrong party. The interpleader filed by the escrow agent asks the court to determine to whom the funds should be awarded.

A crossing, usually of roads, but may be lines, such as on a map or survey.

Between two or more states.

A federal system of roads which cross the United States, linking its major cities.

Sales of land to a buyer in another state. Because the buyer is usually totally dependent on the seller for information regarding the property, federal disclosure laws have been passed to aid the buyer. The buyer also has a period (now 3 days) after signing a purchase agreement, in which to rescind. The laws were passed because of the large promotional land sales of the 50’s and early 60’s, some of which sold worthless desert and swamp land.

See: Time-Sharing.

See: Intestate.

Without leaving a will, or leaving an invalid will so that the property of the estate passes by the laws of succession rather than by direction of the deceased.

The value of the thing itself, rather than any special features which make its market value different. For example: The intrinsic value of a painting is the worth of the canvas and paint, rather than the value to an art collector.

To take effect, to result.

(1) The goods of a business which are sold in the every day course of business, such as houses by a builder. (2) A detailed list of property, such as of an estate.

Condemnation of property near a parcel so as to cause the parcel to lose much of its value. In such a case the parcel is, in effect, condemned and just compensation must be paid to the owner.

The putting up of money with the intent to make a profit or receive interest.

Generally, any property purchased for the primary purpose of profit. The profit may be from income or from resale.

A company which sells its own stock and invests the money in stocks, real estate, or other investments. See also: R.E.I.T., Real Estate Investment Trust.

The gain from an investment in real property, including both income and resale. Expressed as a percentage of the amount invested.

See: Involuntary Conveyance.

Conversion of real property to personal property (money) without the voluntary act of the owner. This occurs when property is taken by eminent domain (condemnation). The owner is allowed to convert back to real property (buy another property) without paying tax on the gain from the condemnation. This must be done within a set time (3 years) and the prices of the old and new property are considered to form a new tax base.

A transfer of real property without the consent of the owner, such as by a divorce decree, by condemnation, etc.

A lien, such as a tax lien, judgment lien, etc., which attaches to property without the consent of the owner, rather than mortgage lien, to which the owner agrees.

See: Constructive Trust.