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Glossary G and F

Stack #179841

QuestionAnswer
Absolute ownership of real property; a person has this type of estate where the person is entitled to the entire property with unconditional power of disposition during the person's life and descending to the person's heirs or distributees.
Fiduciary
Personal property so attached to the land or improvements as to become part of the real property.
Foreclosure
Freehold An interest in real estate, not less than an estate for life. (Use of this term discontinued Sept. 1, 1967.)
Additional time allowed to perform an act or make a payment before a default occurs.
Grant A technical term used in deeds of conveyance of lands to indicate a transfer.
Grantee The party to whom the title to real property is conveyed.
Total income from property before any expenses are deducted.
Earnings of improved property credited to earning of the ground itself after allowance made for earnings of improvements.
Created by: jayjuss
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