Archives: Glossary Terms

The party who has legal temporary possession and use of real property belonging to another.

The alterations to the interior of a building made to meet the functional needs of the tenant.

A party who holds lands for the period of another’s life. See Pur autre vie

An evaluation process used by property managers to approve rental prospects to be tenants.

A specific list of items according to state guidelines which makes a property fit to live in.

See Tenancy by the entireties.

An unconditional offer of money or performance by one of the parties to a contract to carry out his or her part of the contract which when unjustifiably refused may permit the party making tender to exercise remedies for breach of contract.

All things which may be owned that are of a permanent nature such as land and buildings and in a more restrictive sense a house or a dwelling.

See Tenure in land.

A concept of American real estate ownership that holds that all rights and title in and to the land rest with the owner.