Abstract of Judgment
A post judgment lien against real property that the debtor currently owns, or may try to purchase in the future. This is recorded in the county recorder’s office in every county where the debtor may now own or later acquire property.
Related Blog- Abstract of Judgment
The legal process by which someone gains legal title to real property by the actual, open, hostile, and continuous possession of it and payment of taxes on it for 5 years.
Visit Our Practice Area Page- Adverse Possession Attorney
A method of alternative dispute resolution in which the parties’ disputes are resolved through a private arbitration hearing in front of typically a retired judge. Similar to a court trial, witnesses and evidence are presented to a neutral arbitrator who acts in a similar capacity as a judge would in the trial.
Related Blog- Why Arbitration Can Be Better than Litigation?
Disputes between neighboring owners of real estate concerning the property boundary lines and whether either owner has the right to extend beyond their legal property lines.
Visit Our Practice Area Page- Boundary Disputes Attorney
A person who inherits or benefits from a trust. It is someone for whose benefit a trust is created. A person or entity can be a beneficiary of a revocable trust, irrevocable trust, or even a deed of trust.
Cloud on Title
A claim or encumbrance that affects the ownership of a property. It can be a lien, an easement, or a competing claim to ownership.
All of the assets acquired by a married couple during the marriage which are presumed to be owned equally upon divorce.
Related Blog- Community Real Property: Spouse or Domestic Partner Joint Ownership
Contingencies (Real Estate)
A clause found in a real estate purchase and sale agreement that grants buyers (and sometimes sellers) the ability to back out of a sale, without penalty, if those contingency terms are not met.
A legal document that transfers ownership of a piece of property from one party to another. It is a legal tool that is used when owners of real property transfer, sell or give real property to another (the grantee) by executing a writing instrument (the deed) that satisfies statutory requirements. There are various forms of deeds including quitclaim deeds, grant deeds, warranty deeds, and easement deeds.
Deed of Trust
A legal document in which the borrower (trustor) conveys a lien on a piece of property to a trustee as security for a loan from a lender (beneficiary).
The non-exclusive right to use or access someone else's property for a specific purpose.
Easement by Necessity
A type of easement that is granted when a property is landlocked and the owner needs access to a public road or utility.
A type of easement that is attached to a specific piece of property and benefits another property.
Easement by Prescription
A type of easement that is acquired through open and continuous use for a certain period of time, without the owner's permission.
Easement in Gross
A type of easement that benefits a specific person or entity rather than a specific piece of property.
The power of the government or its agent to take private property for public use, with just compensation to the property owner.
Visit Our Practice Area Page- Eminent Domain Attorney
The legal process by which a landlord removes a tenant from a rental property.
Visit Our Practice Area Page- Eviction Attorney
The legal process by which a lender takes possession of a property when the borrower defaults on their mortgage loan.
General Warranty Deed
A type of deed in which the grantor warrants that they have good title to the property and will defend it against any legal claims.
The person or entity who conveys property by a deed.
The person or entity to whom property is conveyed by a deed.
A probate petition to add a property to a trust after a person dies with a trust but where an asset was inadvertently not placed in the trust.
Related Blog- Heggstad Petition: Putting Property Into a Trust After Death
Homeowners Association (HOA)
An organization of homeowners in a planned community or condominium development that is responsible for enforcing covenants and restrictions and maintaining common areas.
This provides a certain amount of equity in a property that is immune from judgment collection provided certain formalities are observed by the debtor.
Related Blogs: Increase of the California Homestead Exemption
A court determination of respective rights between parties that are enforceable through the court system. Even though it is a piece of paper it opens the door to collection steps and enforcement of judgment tools.
A legal agreement between a landlord and tenant that gives the tenant the right to occupy a property for a specific period of time or periods of time in exchange
A term used to describe a piece of property that has no access to a public road or utility.
Letter of Intent
This is a deal points memo that is often used in commercial leasing and purchase and sale transactions where the parties begin to negotiate terms of the deal. It can be binding or non-binding.
A legal notice that is recorded with the county assessor’s office, notifying the public that a lawsuit affecting the title to a piece of property is pending. The notice establishes the priority of the lawsuit and makes the property subject to the lis pendens typically not marketable for sale or refinance.
A legal claim against a piece of property that must be satisfied before the property can be sold or transferred.
This is a title policy on a litigation. You can actually buy title insurance that provides litigant protection on the identification of lienholders on a property.
A type of lien that can be recorded against a property by anyone who supplied labor or materials for the improvement of that property, to secure payment of a claim. When recorded, a mechanics lien has priority over any subsequent lien, mortgage, or trust deed.
Related Blog: Mechanic’s Liens In California – Rights and Responsibilities
Paying off debt over a period of time in equal payments.
Related Blog: What is Mortgage Amortization?
A lawsuit that comes about when two or more owners of real property cannot agree on whether or how to sell the property.
Visit Our Practice Area Page- Partition Attorney
Power of Attorney
A legal instrument designed to appoint and give someone authorization to act on your behalf in medical, financial, and other affairs.
Related Blog- Power of Attorney in Real Estate Transactions
The legal process by which a person's will is proved to be valid and their assets are distributed according to the terms of the will.
Visit Our Practice Area Page- Probate Litigation Attorney
Public Utility Easement
Revocable Living Trust
Tenants in Common
Tenancy in Common
Transfer on Death Deed
A future conveyance that provides that a certain person will get the property upon their transferor’s death.
Related Blog- 5 Things to Know about a Transfer on Death Deed