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Land Terms

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Conveyance updated

1. The transfer of title to real property by means of a written instrument such as a deed, a will, or an assignment of a lease.
2. The act of transferring title to real property from the owner(s) to another person or group of persons.

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Lagoon

10 out of 10 stars (1 vote)

1. Shallow lake or pond, especially one connected to a larger body of water 2. water enclosed by a coral reef 3. shallow water separated from the sea by sand dunes

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Lake

9 out of 10 stars (1 vote)

An inland body of water, usually of fresh water and considerable size

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Land

1. Solid part of the earth's surface 2. real estate 3. the surface of the earth extending down to the center and upward to the sky, including all natural things thereon such as trees, crops, or water; plus the minerals below the surface and the air rights above

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Land contract

10 out of 10 stars (1 vote)

Another name for an installment purchase contract, by which the buyer obtains equitable title (the right to use the property) while the seller retains legal title (recorded title)as security for payment of the balance of the purchase price

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Land description

A description of a particular piece of real property

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Land Description

Sub-part of a legal land description on a land patent.

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Land leaseback

A creative financing device often used with raw land which a developer wants to improve, in which the developer sells the land to an investor who leases the land back to the developer under a long-term net lease and subordinates his fee ownership to the lender providing development financing

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Land Patent

A document of title issued by a government or state for the conveyance of some portion of the public domain

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Land tenure

Form of real estate ownership associated with the feudal system where all lands were owned and taxed by the king or other sovereign, who granted the right to hold title to real property, but as a life estate only.
Same as "feudal tenure" or the "feudal system of title".

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Land trust

An association organized by common owners of real property, which holds title to the real property in the name of one or more trustees for the benefit of the owners, whose beneficial interests may be represented by trust certificates

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Land use

The activities, operations, or purposes that are employed in a particualr geographic area; the specific manner in which a parcel or tract of land is utilized. Land use is usually regulated by municipal governments through zoning ordinances, although some land uses are regulated by state or federal governments.

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Land, tenants, and hereditaments

A feudal phrase used to describe all types of immovable realty including the land, buildings and all appurtenant rights thereto.

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Landlocked

Real property having no access to a public road or way

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Landlord

The lessor or the owner of leased premises. The landlord retains a reversion interest in the property so that when the lease ends the property will revert to the landlord.

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Landmark

A stake, stream, cliff, monument or other object or feature which is used to fix or define land boundaries; also a prominent feature of a landscape or property that is the symbol for the place

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Landscaping

Shrubs, bushes, trees and the like, on the grounds surrounding a structure

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Lateral and subjacent support

The support received by a parcel of real property from the land adjoining it is called lateral support. Subjacent support is that support which the surface of the earth receives from its underlying strata.

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Law day

The date an obligation becomes due; sometimes refers to the closing date

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Lay waste

To damage, destroy, abuse, or otherwise cause the value of property to be diminished, especially by one whose interest in the property is less than fee simple, such as a tenant, life tenant, mortgagor, or vendee.

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Lease

A lease is both a contract between lessor (landlord)and lessee (tenant) and a conveyance or demise of the premises by the lessor to the lessee. A lease is a contract in that item bodies the agreement between the parties.

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Leasehold (Leasehold estate) updated

Lease or rental interests in real property. Holders of leasehold interests (tenants or lessees) have exclusive permission to possess, use, and occupy real property owned by the landlord (lessor) for a specified period of time, in accordance with local laws and the terms of the lease agreement, and in return for some sort of consideration. Leasehold estates do not constitute legal ownership of real property; rather, they are the personal property of the tenant. The four primary types of leasehold estates are estate (tenancy) for years, estate from period to period (periodic tenancy), estate (tenancy) at will, and estate (tenancy) at sufferance.

Same as Less-than-freehold estate.

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Ledge popular

Projection of rocks with the appearance of a shelf

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Left bank

The bank of a stream lying on the left side as one faces in the direction of the current

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Left hand rule / Right hand rule

The practice of adjoining landowners meeting at mid-point of a common partition fence and agreeing that one landowner will maintain the partition fence to the right of the midpoint and the other owner will maintain the fence to the left.

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