Metes and bounds is an old system of measuring land and establishing boundaries using natural landmarks and compass readings and distance measured in poles, links, rods and chains. A common method of land description that identifies a property by specifying the shape and boundary dimensions of the parcel, using terminal points and angles.

Type of land tenure (feudal tenure) requiring the title holder (the tenant) to furnish soldiers or knights to the tenant-in-chief in return for the right to own the land. Tenants in chief with military tenure provided military services directly to the king or other sovereign.

Legal term for a document or other evidence that proves ownership of an asset. In real estate, examples of muniments of title include deeds, wills, and court judgments. In order to be considered a muniment, the document must show title and also be a critical link in the chain of title.

A watercourse that is deep and wide enough to accept commercial vessel (boat) traffic. Also known as a navigable waterway.

A watercourse that is deep and wide enough to accept commercial vessel (boat) traffic. Also known as a navigable river.

1. The income or revenue (monetary or non-monetary) earned by an individual or business after the deduction of expenses such as taxes, insurance, losses, etc. Contrast with gross income.
2. The revenue a business or property will earn in a given year's operation, according to the following simplified formula: Net income = Gross income - Expenses

A lease agreement, usually long-term commercial or industrial, in which the tenant (lessee) agrees to pay all or a portion of the property expenses in addition to periodic rent. It is called a net lease because the rent paid is "net" to the lessor.
Abbreviated as "N lease".

A lease agreement, usually long-term commercial or industrial, in which the tenant (lessee) agrees to pay property taxes and insurance in addition to periodic rent, and the landlord (lessor) agrees to pay for property maintenance.
Also known as a double net lease.
Abbreviated as "NN lease".

A lease agreement, usually long-term commercial or industrial, in which the tenant (lessee) agrees to pay all operating and property expenses in addition to periodic rent, including taxes, insurance, maintenance, utilities, and assessments.
Also known as a triple net lease.
Abbreviated as "NNN lease".

A watercourse that is either too shallow or too narrow to allow commercial vessel (boat or ship) traffic. Also known as a non-navigable waterway.

A watercourse that is either too shallow or too narrow to allow commercial vessel (boat or ship) traffic. Also known as a non-navigable river.

A permitted land use which was lawfully established and maintained but which no longer conforms to current zoning regulations, due to changes in those regulations or ordinances.

An evaluation by a person qualified to examine titles, such as an attorney, of the status or validity of a title to real property.
Also known as an "attorney's opinion of title".
See also "Certificate of title", "Chain of title", and "Abstract of title".

A cadastral survey which creates land boundaries and marks them for the first time.

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 Asian neighborhood that a Latino 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 and Definitions: Real Estate, Legal, Management

A clause found in a mortgage which directs the mortgagee to release certain parcels from the lien of the blanket mortgage upon the payment of a certain sum of money.
Contrast with release.

Fences that seperate adjoining lands.

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.

Occurring regularly or semi-regularly in time, as a periodic tenancy, periodic rent, periodic portfolio review, etc.

Monies payable as part of a residential or commercial lease agreement and collected on a regularly recurring basis (e.g., monthly, annually, etc.).

All property other than real property. Personal property is distinct from real property in that it is moveable (not attached or affixed). Exceptions are made for trade fixtures or furniture, fixtures, and equipment (FFE), which can be attached, but are still considered personal property. Also known as personalty or chattels, personal property can be tangible (things or objects owned) or intangible (rights and relationships that are included in ownership). Tangible chattels include all objects that one owns, such as vehicles, clothing, houseplants, small appliances, etc. Examples of intangible chattels include patents, copyrights, royalties, and community property relationships. Transfer of personal property is done through a bill of sale, a will, intestate succession, or by court order (judgment).

A zoning process governing the development of relatively large areas to provide for various types and combinations of land uses (single- and multi-family residential, commercial, industrial, recreational areas, open spaces, buffer zones, etc.) The PAD process allows for greater flexibility and creativity in development plans than generally exist under most zoning regulations. Planned area development can also serve as a permanent type of zoning district.

A combination of different yet compatible land uses within a single neighborhood, development, or subdivision. PUD's usually contain residential areas often characterized by multi-unit condominiums or townhomes, although groups of single-family homes are also common. The design of PUD's usually encourages high-density housing and maximum utilization of open space. In addition to residential areas, planned unit developments often contain commercial, recreational, light industrial, and specially zoned areas. Property located within PUD's can usually be described as deminimus.

A surveyed map of a town, section, or subdivision indicating the exact locations and boundaries of individual properties, streets, easements, and public recreation areas. Plats are usually required for government approval of subdivisions, and are usually publicly recorded documents.

The constitutional authority and inherent power of a state or government to adopt, enact, and enforce laws and regulations to promote and support the health, safety, morals and general welfare of the public.