Search results
Results from the WOW.Com Content Network
A partition is a term used in the law of real property to describe an act, by a court order or otherwise, to divide up a concurrent estate into separate portions representing the proportionate interests of the owners of property. [1]
Under the common law such restraints are void as against the public policy of allowing landowners to freely dispose of their property. Perhaps the ultimate restraint on alienation was the fee tail , a form of ownership which required that property be passed down in the same family from generation to generation, which has also been widely abolished.
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 joint tenancy or joint tenancy with right of survivorship (JTWROS) is a type of concurrent estate in which co-owners have a right of survivorship, meaning that if one owner dies, that owner's interest in the property will pass to the surviving owner or owners by operation of law, and avoiding probate. The deceased owner's interest in the ...
In property law, alienation is the voluntary act of an owner of some property to dispose of the property. 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.
A partition unit is a corporation that owns common land. In this case, the land is not state-owned or in joint-ownership under a trust, but is owned by a definite partition unit, a legal partnership whose partners are the participating individual landowners. Common lands and waterways owned by a partition unit were created by an agreement where ...
Ken H. Johnson, a real estate economist at Florida Atlantic University and a former real estate broker, says the new rules just add another layer of complexity to an already-confusing process.
For example, in Tennessee law, tax map boundaries can become property boundaries (notwithstanding a survey and deed to the contrary) merely by paying the taxes on the land for twenty years in the belief that it was part of the ownership, even if it encompasses adjacent gaps and gores. See adverse possession.