Definition: An estate that reverts back to the original grantor. Pronunciation: \i-ˈstāt\ \ri-ˈvər-zhən, -shən\ Used in a Sentence: An estate in reversion was created when Mary died and the property returned t..
Definition: Title to property is held by one person. Also called sole ownership. Pronunciation: \i-ˈstāt\\ˈsev-rəl-tē, ˈse-və-\ Used in a Sentence: Because there is only one owner the property is considered an estate in ..
Definition: Real property owned by a corporation sole. Pronunciation: \i-ˈstāt\ Used in a Sentence: The church and rectory buildings and property are considered an estat..
Definition: A future interest in real estate that can become effective only upon the termination of the prior estate. Pronunciation: \i-ˈstāt\ \ri-ˈmān-dər\ Used in a..
Definition: A legal doctrine barring people from alleging or denying a fact because of one’s own previous actions or words to the contrary. Pronunciation: \e-ˈstä-pəl\ Used in a..
Definition: A legal instrument implemented by a mortgagor detailing the exact unpaid balance of a mortgage, the current rate of interest and the date to which interest has been paid. It bars the signer from making a claim inconsistent with the instrument. Pronunciation: \e-ˈstä-pəl\ \(ˌ)sər-ˈti-fi-kət\ Used in a Sentence: When the bank sold off the mortgage, the ..
Definition: A system of moral obligations, rules and standards of conduct that a member of a profession owes to the public or other members. Pronunciation: \ˈe-thiks\ Used in a Sentence: Good ethics is concerned with fidelity, integrity and competen..
Definition: Material that is presented to a court of law to help find the truth about something. Pronunciation: \ˈe-və-dən(t)s, -və-ˌden(t)s\ Used in a Sentence: The signed document was evidence that the buyer knew the terms of..
Definition: The right of an owner to keep others from tresspassing by entering or using the property without permission. Pronunciation: \iks-ˈklü-zhən\ Used in a Sentence: The right of excusion allowed the farmer to put a fence around his property to keep p..
Definition: A written listing agreement giving a sole agent the right to sell a property for a specified time. Pronunciation: \iks-ˈklü-siv, -ziv\ \ˈā-jən(t)-sē\ Used in a Sentence: The seller signed an exclusive-agency listing contract with the broker for a 6 month peri..