The Law Dictionary for Everyone
Property Management Property management is the control and operation of real estate, personal property, equipment, or physical assets. It is most often referred to in relation to the lease or rental of the property, in which a property manager handles the maintenance and day-to-day activities surrounding the property. In rental houses and apartments, this would include seeking occupants, and collecting […]
Read moreA lease agreement is an arrangement, made between two parties, that allows one of those parties to use an asset belonging to the owner. Typically, lease agreements are used for rental properties, but they are also used for rentals of vehicles, household appliances, construction equipment, and other items. A lease agreement is a legal contract designed to protect both the […]
Read moreEviction is a legal process that may be undertaken to remove a tenant from a rental property. This may be done when a landlord has a need to take legal action because the tenant refuses to leave, or in the event a mortgage holder has foreclosed on the property, and wants the tenant out. The majority of evictions are the result of […]
Read moreThe term appurtenant refers to something that belongs to, or goes with something else. The appurtenant thing, or “appurtenance,” is less important than the property to which it belongs or is attached. The term appurtenant is commonly used in real estate law, but may have other uses as well. To explore this concept, consider the following appurtenant definition. Definition of […]
Read moreUnlawful detainer is a civil law term used in regard to a situation in which a tenant in possession of a leased or rented property refuses to vacate the premises after the lease has ended. In order for the landlord to evict the tenant, he must file an unlawful detainer action with the civil court in the jurisdiction in which the property is located. To explore this […]
Read moreThe Latin term lis pendens translates as “suit pending.” This legal term refers to a written notice of a civil lawsuit concerning the title to, or an ownership interest in, a specific real property has been recorded on the property. This notice serves as a constructive notice to anyone interested in purchasing the property, that there is a lawsuit pending […]
Read moreThe term real property refers to land, and any buildings, structures, and equipment permanently attached or fixed to the land. Ownership of real property also addresses ownership of whatever is growing on, or lies beneath the land. Often referred to as “real estate,” real property is one of the most important, and most lucrative, items bought, sold, and traded in […]
Read moreA warranty deed is a deed in which the seller, also known as the “grantor,” guarantees to the buyer, also known as the “grantee,” that he holds clear title to the property, and that he has a legal right to sell it. A warranty deed is the most common type of deed used to transfer real property from a seller […]
Read moreThe legal term “tenants in common” refers to a form of ownership in which two or more people own separate shares of the same real property. In tenants in common circumstances, each person holds an individual, undivided ownership interest, which gives them an equal right to use the property or transfer their ownership interest. Any of these actions must be […]
Read moreThe legal term grantor refers to an individual or entity that bestows ownership of property, an easement, or a right, on another individual or entity. The term is often used when one party transfers or conveys title to real property by deed, or when an individual creates a trust, and transfers ownership of his assets into it. To explore this […]
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