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Dictionary of Law |
marketable title :: legal definitionMarketable title - n. the title to real property which has no encumbrances (mortgage, deed of trust, lien or claim) and which is free of any reasonable objection (excluding minor mistakes in the description or typographical errors). A court will enforce a contract to buy and sell real estate if there is marketable title. See also: contract real property and Related Law Terms ↓ Related Law Termsabeyance :: 1) n. when the owner- ship of property has not bee ... 2) legal jargon for "undetermined."abstract of title :: n. the written report on a title search which show ... e also: chain of title title report adverse possession :: n. a means to acquire title to land through obviou ... o: possession prescriptive easement after-acquired property :: n. 1) personal or real property acquired by a debt ... lso: bankruptcy secured transaction appurtenant :: adj. pertaining to something that attaches. In rea ... t. See also: easement real property assess :: v. to set a value on property, usually for the pur ... e place upon sale of real property. assign :: 1) v. to transfer to another person any asset such ... en shows up in contracts and wills. assume :: v. to take over the liability for a debt on a prom ... he assumption. See also: assumption bankruptcy :: n. a federal system of statutes and courts which p ... y proceedings trustee in bankruptcy breach :: 1) n. literally, a break. A breach may be a failur ... breach of trust breach of warranty chain of title :: n. the succession of title ownership to real prope ... title conveyance foreclosure title cloud on title (cloud) :: n. an actual or apparent outstanding claim on the ... ion reconveyance title title report collateral :: 1) n. property pledged to secure a loan or debt, u ... ral to the Colorado divorce action. color of title :: n. the appearance of having title to personal or r ... rty based on this "color of title." condition precedent :: n. 1) in a contract, an event which must take plac ... o the property. See also: condition condition subsequent :: n. 1) in a contract, a happening which terminates ... Dad Fauntleroy. See also: condition condominium :: n. title to a unit of real property which, in real ... ium projects. See also: common area convey :: v. to transfer title (official ownership) to real ... ion conveyance deed grantee grantor conveyance :: n. a generic term for any written document which t ... r Recorder of Deeds. See also: deed covenant :: 1) n. a promise in a written contract or a deed of ... o compete deed restrictive covenant dedication :: n. the giving of land by a private person or entit ... perty. See also: quiet title action deed :: 1) n. the written document which transfers title ( ... veyance deed of trust warranty deed deed of trust :: n. a document which pledges real property to secur ... : foreclosure mortgage reconveyance defect :: n. an imperfection, quite often so great that the ... See also: defective defective title defective title :: n. an apparent title to real property which fails ... so: chain of title defect defective demise :: 1) v. an old-fashioned expression meaning to lease ... r life. 3) n. death. 4) n. failure. devise :: 1) v. an old-fashioned word for giving real proper ... so: bequest gift legacy remise will devisee :: n. a person who receives a gift of real property b ... will. See also: beneficiary legatee easement :: n. the right to use the real property of another f ... rstandings at the time of creation. escrow :: 1) n. a form of account held by an "escrow agent" ... w the deal." See also: escrow agent exchange :: 1) v. to trade or barter property, goods and/or se ... ins tax. See also: delayed exchange execution :: n. 1) the act of getting an officer of the court t ... so: death penalty writ of execution fair market value :: n. the amount for which property would sell on the ... so: appraise appraiser market value foreclosure :: n. the system by which a party who has loaned mone ... ced sale mortgage notice of default free and clear :: adj. referring to the ownership of real property u ... the title has no claim against it. grant :: v. to transfer real property from a title holder ( ... deed grantee grantor quitclaim deed grant deed :: n. the document which transfers title to real prop ... rant grantee grantor quitclaim deed hostile possession :: n. occupancy of a piece of real property coupled w ... verse possession quiet title action interest :: n. 1) any and all, partial or total right to prope ... nal property real property standing inverse condemnation :: n. the taking of property by a government agency w ... e also: condemnation eminent domain joint tenancy :: n. a crucial relationship in the ownership of real ... ty property tenancy in common title laches :: n. the legal doctrine that a legal right or claim ... , breach of contract, fraud, etc.). land :: n. real property, real estate (and all that grows ... See also: real estate real property lease :: 1) n. a written agreement in which the owner of pr ... triple net lease unlawful detainer legatee :: n. a person or organization receiving a gift of an ... eficiary devise devisee legacy will leverage :: 1) n. the use of borrowed money to purchase real e ... e been created by risky leveraging. lien :: n. any official claim or charge against property o ... ord's lien mechanic's lien mortgage life estate :: n. the right to use or occupy real property for on ... hter, Sadie, will own the property. lis pendens :: (lease pen-dense) n. Latin for "a suit pending," a ... ob can be penalized by court order. market value :: n. the price which a seller of property would rece ... ich are often called "comparables." mechanic's lien :: n. the right of a craftsman, laborer, supplier, ar ... ll sue for the debt. See also: lien merger :: n. 1) in corporate law, the joining together of tw ... and taking one, and wife the other. mortgage :: n. a document in which the owner pledges his/her/i ... losure notice of default trust deed nominal party :: n. a defendant or a plaintiff included in a lawsui ... ed. See also: necessary party party notice :: n. 1) information, usually in writing in all legal ... Thirty-day notice three-day notice operation of law :: n. a change or transfer which occurs automatically ... atically upon the child turning 18. option :: n. a right to purchase property or require another ... ng or upon expiration of the lease. personalty :: n. movable assets (things, including animals) whic ... lso: personal effects real property possessory interest :: n. in real estate, the intent and right of a perso ... o: possess possession real property possibility of a reverter :: n. the potential that the title to a real property ... further issue. See also: reversion privity :: n. contact, connection or mutual interest between ... with the seller. See also: contract property :: n. anything that is owned by a person or entity. P ... rty real property separate property property tax :: n. an annual governmental tax on real property or ... are made. See also: ad valorem tax quiet title action :: n. a lawsuit to establish a party's title to real ... opposition. See also: notice title quitclaim deed :: n. a real property deed which transfers (conveys) ... also: convey deed grant deed title real estate :: n. land, improvements and buildings thereon, inclu ... the future. See also: real property real estate investment trust :: n. nicknamed REIT, a real estate investment organi ... its upon sale-if there is a profit. real property :: n. 1) all land, structures, firmly attached and in ... onal property real estate reversion reconveyance :: n. in those states which use deeds of trust as a m ... conveyance. See also: deed of trust record :: 1) v. (ree-cored) to put a document into the offic ... eeding race to the courthouse trial remainder :: n. in real property law, the interest in real prop ... ed reversion title vested remainder restraint on alienation :: n. an attempt in a deed or will to prevent the sal ... enant rule against perpetuities use resulting trust :: n. a trust implied by law (as determined by a cour ... See also: constructive trust trust reversion :: n. in real property, the return to the grantor or ... lled "reverter." See also: reverter rule against perpetuities :: n. the legal prohibition against tying up property ... . See also: restraint on alienation seisin :: (sees-in) n. an old feudal term for having both po ... perty). See also: fee simple seized statute of limitations :: n. a law which sets the maximum period which one c ... ies. See also: demurrer laches toll subject to :: adj. referring to the acquisition of title to real ... : assumption deed of trust mortgage substantial performance :: n. in the law of contracts, fulfillment of the obl ... also: contract specific performance tenancy by the entirety :: n. joint ownership of title by husband and wife, i ... ee also: community property tenancy title :: n. 1) ownership of real property or personal prope ... ink slip real property title search title insurance :: n. a policy issued by an insurance company guarant ... : chain of title title title search title report :: n. the written analysis of the status of title to ... lso: abstract title title insurance title search :: n. the examination of county records for the prope ... e escrow lien title title insurance undivided interest :: n. title to real property held by two or more pers ... y by the entirety tenancy in common unlawful detainer :: n. 1) keeping possession of real property without ... Thirty-day notice three-day notice use :: n. the right to enjoy the benefits of real propert ... ay it is only of academic interest. Popular Law Searcheslegal definition ministerial act :: n. an act, particularly of a governmental employee ... exercising any individual judgment.chancery legal definition :: n. a court that can order acts performed. Today ch ... ts in most states. See also: equity testamentary disposition legal definition :: n. how the terms of a will divide the testator's ( ... named beneficiaries. See also: will contract of sufferance :: n. a "hold-over" tenancy after a lease has expired ... y tenancy at will unlawful detainer forthwith legal definition :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay. forthwith definition legal :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay. what is to wit in a legal contract :: prep. that is to say. Example: "the passengers in ... tty Bumgartner and Sherry Younger." mirror wills legal definition :: n. the wills of a husband and wife which are ident ... d each names the other as executor. clean hands doctrine latin :: n. a rule of law that a person coming to court wit ... ices. See also: affirmative defense sine qua non only relates to contract law :: (see-nay kwah nahn) prep. Latin for "without which ... qua non of the injury to Playmate. Other Law Terms - MM. O. :: n. slang for modus operandi, the way or pattern in ... her crime. See also: modus operandimagistrate :: n. 1) a generic term for any judge of a court, or ... ce of the peace preliminary hearing Magna Carta :: n. Latin for "Great Charter," it was a document de ... s. It is also spelled Magna Charta. mail box rule :: n. in contract law, making a written offer or acce ... nse in hand when the time runs out. maim :: v. to inflict a serious bodily injury, including m ... to a prison term. See also: mayhem majority :: n. 1) the age when a person can exercise all norma ... t. See also: child infancy minority make :: v. 1) to create something. 2) to sign a check, pro ... xchange check maker promissory note make one whole :: v. to pay or award damages sufficient to put the p ... fault of another. See also: damages maker :: n. 1) the person who signs a check or promissory n ... : check payee payor promissory note malfeasance :: n. intentionally doing something either legally or ... sponsibility. See also: misfeasance malice :: n. a conscious, intentional wrongdoing either of a ... cution murder public figure slander malice aforethought :: n. 1) the conscious intent to cause death or great ... : first degree murder malice murder malicious prosecution :: n. filing a lawsuit with the intention of creating ... vor of the victim. See also: malice malpractice :: n. An act or continuing conduct of a professional ... eed. See also: errors and omissions malum in se :: (mal-uhm in say) adv. Latin referring to an act th ... hibitum. See also: malum prohibitum malum prohibitum :: (mal-uhm prohibit-uhm) adj. Latin meaning "wrong d ... lso: malum in se white collar crime mandamus :: (man-dame-us) n. Latin for "we order," a writ (mor ... mandamus. See also: writ of mandate mandate :: n. 1) any mandatory order or requirement under sta ... See also: mandamus writ of mandate mandatory :: adj., adv. absolutely demanded or required. ... v. absolutely demanded or required. mandatory joinder :: n. the required inclusion of a party in a lawsuit ... sues in the case. See also: joinder |