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real estate investment trust :: legal definition


Real estate investment trust - n. nicknamed REIT, a real estate investment organization which finds investors and buys real property and gives each investor either a percentage interest in the property itself or an interest in a loan secured by a mortgage or deed of trust on the property. Usually the loan is used to develop the property and build upon it, and then there is a division of profits upon sale-if there is a profit.


Related Law Terms

abstract of judgment :: n. a written summary of a judgment which states ho ... aying the debt. See also: levy lien
abstract of title :: n. the written report on a title search which show ... e also: chain of title title report
accretion :: n. 1) in real estate, the increase of the actual l ... cted event. See also: probate trust
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.
assume :: v. to take over the liability for a debt on a prom ... he assumption. See also: assumption
attorney-in-fact :: n. someone specifically named by another through a ... cument. See also: power of attorney
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
capital gains :: n. the difference between the sales price and the ... so: basis delayed exchange exchange
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."
commingling :: n. the act of mixing the funds belonging to one pa ... rust accounts for funds of another.
condition subsequent :: n. 1) in a contract, a happening which terminates ... Dad Fauntleroy. See also: condition
contingent interest :: n. an interest in real property which, according t ... ontingent remainder future interest
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
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
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
dominant estate :: n. in real estate law, the property retained when ... See also: easement servient estate
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
escrow instructions :: n. the written instructions by buyer and seller of ... ir agents. See also: closing escrow
estate :: n. 1) all that one owns in real estate and other a ... ife estate probate real estate will
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
fiduciary :: 1) n. from the Latin fiducia, meaning "trust," a p ... lation fiduciary relationship trust
foreclosure :: n. the system by which a party who has loaned mone ... ced sale mortgage notice of default
foreclosure sale :: n. the actual forced sale of real property at a pu ... dicial sale mortgage sheriff's sale
free and clear :: adj. referring to the ownership of real property u ... the title has no claim against it.
grant deed :: n. the document which transfers title to real prop ... rant grantee grantor quitclaim deed
in kind :: adj. referring to payment, distribution or substit ... . See also: distribution trust will
insurance :: n. a contract (insurance policy) in which the insu ... t clause Workers' Compensation Acts
interest :: n. 1) any and all, partial or total right to prope ... nal property real property standing
joint tenancy :: n. a crucial relationship in the ownership of real ... ty property tenancy in common title
judicial foreclosure :: n. a judgment by a court in favor of foreclosure o ... deed of trust foreclosure mortgage
jurisdiction :: n. the authority given by law to a court to try ca ... Superior Court Supreme Court venue
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.
marital deduction :: n. an estate tax deduction allowed a surviving spo ... community property estate tax trust
marketable title :: n. the title to real property which has no encumbr ... e. See also: contract real property
Massachusetts Trust :: n. a business in which the investors give manageme ... provide for eventual distribution.
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
non-discretionary trust :: n. a trust in which the trustee is directed to inv ... ower in the matter. See also: trust
notice :: n. 1) information, usually in writing in all legal ... Thirty-day notice three-day notice
parcel :: n. a defined piece of real estate, usually resulti ... See also: real estate real property
pawn :: v. to pledge an item of personal property as secur ... nsed by the state. See also: pledge
personalty :: n. movable assets (things, including animals) whic ... lso: personal effects real property
pledge :: v. to deposit personal property as security for a ... ise to do something. See also: pawn
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
pour over will :: n. a will of a person who has already executed a t ... invalid trust. See also: trust will
power of attorney :: n. a written document signed by a person giving an ... y, as in a real estate transaction.
premises :: n. 1) in real estate, land and the improvements on ... t). See also: real estate structure
pro rata :: (proh rat-ah or proh ray-tah) adj. from Latin for ... e year in which he/she holds title.
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
real estate :: n. land, improvements and buildings thereon, inclu ... the future. See also: real property
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
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
savings and loan :: n. a banking and lending institution, chartered ei ... vings into the home finance market.
servient estate :: n. real property which has an easement or other us ... See also: dominant estate easement
subject to :: adj. referring to the acquisition of title to real ... : assumption deed of trust mortgage
subordination :: n. allowing a debt or claim which has priority to ... . See also: subordination agreement
tax :: n. a governmental assessment (charge) upon propert ... unified estate and gift tax use tax
title :: n. 1) ownership of real property or personal prope ... ink slip real property 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
trade fixture :: n. a piece of equipment on or attached to the real ... uch damage. See also: fixture trade
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.
will :: n. a written document which leaves the estate of t ... will and testament probate testator

Popular Law Searches

legal 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 - R

race to the courthouse :: n. slang for the rule that the first deed, deed of ... e also: deed judgment lien mortgage
Racketeer Influenced Corrupt Organization (RICO) statue :: n. a federal law which makes it a crime for organi ... s to operate legitimate businesses.
racketeering :: n. the federal crime of conspiring to organize to ... ("organized crime" or "the Mafia").
ransom :: 1) n. money paid to a kidnapper in demand for the ... ive. See also: abduction kidnapping
rape :: 1) n. the crime of sexual intercourse (with actual ... See also: date rape statutory rape
ratable :: adj. taxable according to value, such as an estate ... lue, such as an estate or property.
ratification :: n. confirmation of an action which was not pre-app ... mployee). See also: agent principal
ratify :: v. to confirm and adopt the act of another even th ... ligation. See also: agent principal
rational basis :: n. a test of constitutionality of a statute, askin ... imate and constitutional objective.
ready, willing and able :: adj. fully prepared to act, as in performing a con ... o act, as in performing a contract.
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 party in interest :: n. the person or entity who will benefit from a la ... st is the beneficiary of the trust.
real property :: n. 1) all land, structures, firmly attached and in ... onal property real estate reversion
realty :: n. a short form of "real estate." See also: real e ... real estate." See also: real estate
reasonable :: adj., adv. in law, just, rational, appropriate, or ... ost of other actions or activities.
reasonable care :: n. the degree of caution and concern for the safet ... . See also: duty of care negligence
reasonable doubt :: n. not being sure of a criminal defendant's guilt ... also: preponderance of the evidence
reasonable reliance :: n. particularly in contracts, what a prudent perso ... the following:." See also: contract
reasonable speed :: n. the speed of an automobile determined to be low ... e speed limit. See also: negligence