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In property law, alienation is the voluntary act of an owner of some property to convey or transfer the property to another. [1] Alienability is the quality of being alienable , i.e., the capacity for a piece of property or a property right to be sold or otherwise transferred from one party to another.
In New Zealand, Te Ture Whenua Maori Act 1993/Maori Land Act 1993 puts restrictions on alienation of land owned by a Māori person, or by a group which is predominantly Māori. Sections 146 and 147 of the Act force an owner of Māori land who wishes to alienate their interest in the land to give right of first refusal to people belonging to ...
An alienation clause is common in mortgages, giving a mortgage lender the right to request full and immediate loan repayment when the home is sold or transferred.
Assessed value: The value of real estate property as determined by an assessor, typically from the county. "As-is": A contract or listing clause stating that the seller will not repair or correct ...
A certified check is a useful and safe payment method because the funds are guaranteed by the issuing bank. Many banks charge a fee to issue certified checks, which can be up to about $15 per ...
A spendthrift trust is an example of an arrangement containing an anti-alienation provision. The governing document of such a trust provides that the trust corpus may not be reached by creditors while the property is held in the trust. [1] Creditors aware of this legal restriction on alienation may choose not to lend to the spendthrift.
In most jurisdictions, the real property interest created by the contract will pass to the buyer's heirs, while the seller's personal property interest created by the contract will pass to the seller's estate. The State of New York does not recognize equitable conversion. In New York, as long as the buyer is without fault, the risk of loss ...
A certified check is a personal check that has been verified by a bank. A certified check is typically used for a large financial transaction or in a situation when the buyer and seller hasn't ...