A right a party has to buy back or repurchase and recover property lost through a judicial sale. The right of a mortgagor to retain title to a property during a foreclosure period as well as the right to regain the title within a permitted set period after foreclosure sale by paying the full amount owned. See Equity of redemption.
The lessor (landlord) grants the right of possession to the lessee (tenant) but retains the right to retake possession at the expiration of the lease term.
The right, which is the distinguishing feature of joint tenancy, of a surviving tenant or tenants to become owner of the entire interest of a deceased tenant.
A privilege operating as an easement upon land which an owner does by grant or by agreement give to another the right to pass over a specific part of the owner’s land, to construct a roadway or use as a roadway, to construct through and over the land, to install telephone or electric power lines or to place underground water mains, gas mains or sewer mains.
A right to terminate a contract unilaterally or by one side only.
Those simple guidelines or averages such as gross rent multipliers, prices per square foot, prices per front foot, costs per room and costs per apartment that are sometimes used to assist in determining the value of a property which are accurate because of the user’s experience with the same unit of measurement.
In real estate licensing, the orders of the regulatory authority that govern licensees’ activities and which usually have the same force and effect as statutory law.
An area outside larger and moderate-sized cities and surrounding population concentrations that typically has farms, ranches, small towns and unpopulated regions. See Suburb.
A financial arrangement where at the time of sale, the seller gets cash and retains occupancy by concurrently agreeing to lease the property back from the buyer and becomes the lessee. The buyer gets a fixed return on his or her investment plus gets a known tenant and becomes the lessor.
A sale and leaseback transaction in which the lessee has the option to buy back his or her original property after a specified period of time.
