Real Estate Law Glossary

A condensed history of the title to a particular parcel of real estate, consisting of a summary of all recorded instruments that affect the title.

A legal doctrine allowing a person to acquire ownership of land by occupying it openly, continuously, exclusively, and without permission for a statutory period.

The final step in a real estate transaction where ownership is transferred, documents are signed, funds are disbursed, and the deed is recorded.

The transfer of legal title to real property from one person to another by means of a written instrument, typically a deed.

A binding agreement or promise in a deed or other instrument regarding the use or restriction of property.

A written instrument that conveys an interest in real property from the grantor to the grantee upon delivery and acceptance.

A nonpossessory interest in land that grants the holder the right to use another's property for a specific purpose.

The power of the government to take private property for public use upon payment of just compensation.

Any right, interest, or claim that affects or limits the title to real property, such as liens, easements, or restrictive covenants.

A neutral third-party arrangement in which funds, documents, or assets are held until all conditions of a transaction are met.

The greatest possible estate in land, granting the owner full rights of ownership including possession, use, and disposition.

The legal process by which a lender repossesses and sells a property after the borrower defaults on mortgage payments.

A legal provision that protects a portion of a homeowner's equity in their primary residence from creditors and property taxes.

A form of property co-ownership with equal shares and the right of survivorship, meaning a deceased owner's share passes automatically to the surviving owners.

A legal claim against a property that serves as security for a debt or obligation owed by the property owner.

A recorded notice that a lawsuit affecting title to or possession of real property has been filed, alerting potential buyers or lenders of the pending action.

A security instrument in which real property is pledged as collateral for a loan, giving the lender the right to foreclose upon default.

A map or plan of a specific land area, such as a subdivision, showing the boundaries, lots, streets, and easements as recorded with the local government.

The constitutional authority of government to regulate property use for the protection of public health, safety, and welfare, including through zoning and building codes.

A lawsuit filed to establish or confirm ownership of real property and remove any clouds on the title, such as competing claims or defects.

The act of filing documents such as deeds, mortgages, and liens with the county recorder's office to provide public notice of property interests.

A sum of money paid by a tenant to a landlord at the start of a lease, held as security against damage to the property or unpaid rent.

A form of property co-ownership in which each owner holds a separate undivided interest that may be of unequal size and does not include the right of survivorship.

An examination of public records to determine the history of ownership, liens, and encumbrances affecting a parcel of real property.

A system of land use regulation by which a local government divides its territory into districts and prescribes the permitted uses and development standards for each.