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Unit 9
Titles, Deeds & Ownership Restrictions
Term | Definition |
---|---|
Deed | written instrument, usually under seal, which contains an agreement to transfer some property interest from a grantor to a grantee |
Easement | Give someone else (dominant estate) the right to USE a part of the property while the owner (servient estate) retains the ownership rights |
Lien | a legally recognized right to enforce a claim or charge on the property of another for payment of some debt, duty or obligation |
Encumbrance | any interest in or claim on, the land of another, which in some manner burdens or diminishes the value of the property |