A
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
Adverse Possession
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
Arbitration
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?
B
Beneficiary
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.
Boundary Disputes
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
C
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.
Community Property
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.
D
Deed
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).
Dominant Tenement
A parcel of real property that is benefitted by an easement over a neighboring property. This parcel benefits from the easement.
Default Provision
A contractual clause outlining conditions either party may face if they fail to perform their listed obligations.
E
Easement
The non-exclusive right to use or access someone else's property for a specific purpose.
Visit Our Practice Area Page- Easement Disputes
Easement Appurtenant
A type of easement that is attached to a specific piece of property and benefits another property.
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.
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.
Eminent Domain
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
Encumbrance
A limit on how the owner can use real estate. It can come in the form of a lien, lease, easement or other claim impacting title.
Equitable Easement
A type of easement established to address fairness and equity in specific situations where the court, sitting in equity, balances the relative hardships to the parties in deciding whether to allow an encroachment to remain. A key factor is that the party seeking the equitable easement cannot have been negligent in allowing the encroachment in the first place.
Eviction
The legal process by which a landlord removes a tenant from a rental property.
Visit Our Practice Area Page- Eviction Attorney
Escrow
A third party intermediary who holds documents, money, and or an asset such as real property until contractual conditions agreed upon by a grantor and grantee have been fulfilled. In real estate escrow typically holds the title to the seller’s real property until the buyer pays funds sufficient to purchase the property.
Know More: What Is the Function of Escrow?
Exclusive Use Provisions
A clause used in commercial leases to grant or prohibit a tenant from a specific use within a common property such as a plaza, or shopping center. The exclusivity provisions are used to limit the number or type of tenants who may be offering a particular product or service that may conflict with the interests of the common property, or another tenant. For example, a common exclusive use provision could be the right to sell coffee or have a coffee shop so as to prohibit other coffee shops from coming into the same business center.
Know More: Commercial Lease Counseling – Exclusive Use Provisions
F
Foreclosure
The legal process by which a lender takes possession of a property when the borrower defaults on their mortgage loan.
G
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.
Grant Deed
A legal tool that “grants” an interest in real property to the grantee.
Grantor
The person or entity who conveys property by a deed.
Grantee
The person or entity to whom property is conveyed by a deed.
H
Heggstad Petition
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.
Homestead Exemption
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
I
Inverse Condemnation
A legal concept entitling a property owner to seek compensation when their property is damaged or its valuation is negatively affected by direct or indirect actions of a government agency or utility.
J
Judgment
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.
K
L
Lease
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
for rent.
Landlocked
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.
Related Blog: Letters of Intent (LOI): 5 Key Issues to Know
Lis Pendens
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.
Lien
A legal claim against a piece of property that must be satisfied before the property can be sold or transferred.
Litigation Guarantee
This is a title policy on a litigation. You can actually buy title insurance that provides litigant protection on the identification of lien holders on a property.
Related Blog: Litigation Guarantees: An Overview
M
Mechanics Lien
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
Mortgage Amortization
Paying off debt over a period of time in equal payments.
Related Blog: What is Mortgage Amortization?
N
Nuisance
Anything that causes discomfort, harm, or obstructs the rights and free usage of property.
O
P
Partition Action
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
Probate
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
Easements that are expressly dedicated for public utility purposes.
See blog: What is a Public Utility Easement?
Q
Quitclaim Deed
A document that is used to convey some interest in property from one person to another.
See Related Blog- How to File a Quitclaim Deed in California
Quiet Title Action
A legal process in which a property owner (Plaintiff) seeks to confirm, clarify, and “quiet” any competing claims to a specific real property or interest in that property by other parties (Defendants).
See Related Blog- Quiet Title Action Overview
R
Revocable Living Trust
A legal instrument that you put your assets into and is administered for your benefit during your lifetime.
See Related Blog- What are Wills and Revocable Living Trusts?
Reverse Mortgage
A type of loan that is generally procured by elderly homeowners where the lender makes payments to the borrower based on the value or equity in the borrower’s owner-occupied principal residence.
See Related Blog- What is a Reverse Mortgage?
S
Specific Performance
A common remedy for a failed purchase and sale of real property.
Visit Our Practice Area Page- Specific Performance
Survey
A map used to define the boundary lines of a property based on the county records and legal descriptions of said property.
See Related Blog- What is a Record of Survey?
Servient Tenement
A parcel of real property subject to an easement or burdened with an easement.
T
Tenancy in Common
an interest in real or personal property that is owned by several persons, though not in a joint ownership or in partnership
See blog: Joint Tenancy vs 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
Trust
An arrangement that creates fiduciary relationship to property that is held and administered by one party for the benefit of another.
See Related Blog- What is a Trust?
Trustee
A trustee is an individual, or a firm that holds and administers property or assets, that have been set aside in a trust, for the benefit of a third party.
U
V
W
Will
A type of instrument used to prepare when planning how to distribute your assets when you pass away.
Related blog- What are Wills and Revocable Living Trusts?
Writ
A written command in the name of a court or legal authority to act, or keep from acting, in some way.