Archives: Glossary Terms

The crops growing on a property which require annual care and are usually considered to be a possession of the tenant..

The right of the government to acquire property for necessary public use with just compensation the right of which is found in the 5th Amendment to the Constitution..

A state statute that provides a legal base for zoning codes or other local governmental action.

An unlawful intrusion onto adjacent property of another by improvements to real property such as a patio built across a property line which reduces the value of the property intruded upon..

The voluntarily or involuntarily placing of a lien or a charge on or a limiting of the use of land or property.

Anything which affects or limits the fee simple title to or value of property such as a mortgage or an easement.

A person who envisions, organizes, manages and assumes responsibility for a business.

A lien granted by the court as a result of legal action taken rather than as a result of statute. See Statutory lien.

A legal document that encumbers property but is not technically a mortgage because of the existent some legal error. Example: Although there was an error in the property’s description that was attached to the documents, the parties in the transaction to be a mortgage loan, and the judge enforced equitable mortgage as if it were a mortgage loan on the property.

The right of a property owner in default to recover his or her property prior to its sale by paying the appropriate fees and charges.