California Real Estate Terms
Terms
undefined, object
copy deck
- abandonment
- the voluntary surrender of a right, claim or interest in a piece of property without naming a successor as owner or tenant.
- abstract of title
- a certified summary or the histor od a title to a particular parcel of real estate that includes the origional grant and all subsequent transders, encumbrances, and releases.
- abutting
- sharing a common boundary;adjoining
- acceleration clause
- a clause in a note, mortgage or deed of trust that permits the lender to declare the entire amount of principal and accured interest due and payable immediately in the event of default.
- acceptance
- the indication be a party receicing an offer they agree to the terms of the offer. In most states the offer and acceptance must be reduced to writing when real property is involved
- accretion
- the increase or addition of land resulting from the natural deposit of sand or soil by streams lakes or rivers
- accrued depreciation
- the amt of depreciation or loss in value that has accumulated since initial construction...the difference between the current appraised value and the cost to replace the building
- accrued items
- a list of expenses that have been uncurred but not yet ppais such as interest on a loan, that are included on a closing statement.
- acknowledgment
- a formal declaration before a public official usually a notary public, by a person who has signed a deed, contract or other document that the execution was a voluntary act.
- acknowlegment
- a formal declaration before a public official ususally a notary pyblic by a person who has signed a deed, contract or other document that the execution was a voluntary act.
- acre
- a measure of land equal to 43,550 sq ft or 4,840 sq yds
- actual eviction
- the result of legal action brought by a landlord agains a defaulted tenant whereby the tenant is physically removed from rented or leased propert by a court order
- actual notice
- the actual knowledge that a person has of a particular fact
- addendum
- any provision added to a contract or an addition to a contract that expands modifies or enhances the clarity of the agreement. To be a part of the contract and legall enforceable, an addendum must be referenced within the contract.
- Abstract of Title
-
n.
A brief history of the transfers of a piece of land, including all claims that could be made against it.