Definition: The act of creating or causing alarm among homeowners with the intent to make them sell their homes by stating or implying that persons of a protected class moving into the neighborhood will have negative results such as lowered home values or increased crime. Those who engage in this practice, known as blockbusters, attempt to profit by purchasing the homes of panicked people at less than market value, then reselling those homes at a greatly increased price. Panic selling is illegal according to the Federal Fair Housing Act (1968, 1974, 1988), which lists as protected classes race, skin color, national origin, religion, handicap status, familial status, and gender.
Same as Blockbusting.
Example: A real estate investor spreads rumors in a predominantly Lion neighborhood that a Tiger family is considering purchasing a home there, which will bring undesirable elements and lower nearby property values. The investor hopes that people in this area will sell their homes to him at a price that is less than market value because they are alarmed the arrival of the newcomers will result in even lower home values or other undesirable neighborhood conditions. Under the Federal Fair Housing Act, it is illegal even to suggest that changes will occur in a neighborhood because persons of a protected class have moved there or will move there.
Terms, Definitions, and Concepts: Real Estate, Legal, Management
A wall which is located on or at a boundary line between two adjoining parcels and is used or is intended to be used by the owners of both properties in the construction or maintenance of improvements on their respective lots
A unit of length used in land surveys. The terms rod, pole, and perch are equivalent and may be used interchangeably, although "rod" is the most common. One (1) perch is equal to 25 links, 16.5 feet, or 1/4 (0.25) chain. For conversions and examples, see Rod, pole, or perch equivalents and conversions and the various Converting rods, poles, or perches to... entries.
The process by which precipitation seeps into sub-surface layers of the soil; some is held as soil moisture recharge, some resurfaces as streamflow, and the remainder becomes part of groundwater flows (aquifers).
Also known as Infiltration.
Terms, Definitions, and Concepts: Ecology, Forestry and Silviculture, Hydrology, Science, Water
Noun: 1. Title to real property that is free from liens, encumbrances, or defects aside from those which the buyer has agreed to accept (mortgage to be assumed, ground lease of record, etc.)
2. Title to real property that is established, marketable, and without clouds.
3. Title that is without liens or encumbrances and can be sold or transferred to another. Verb: 4. To remove or satisfy claims, liens, or other encumbrances against a title to real property; to make a title whole, clear, and marketable.