ABSTRACT OF TITLE

A summary of or digest of the conveyances, transfer and any other facts relied on as evidence of title together with any other elements of record which may impair the title.

ACCELERATION CLAUSE

A clause in a trust deed or mortgage giving the lender the right to call all sums owing him to be immediately due and payable upon the happening of a certain event.

When the seller or agent's principal agrees to the terms of the agreement of sales approves the negotiations on the part of the agent and acknowledges receipts of the deposit in subscribing to the agreement of sales that act is termed an acceptance.

An addition to land from natural causes as for example from gradual action of the ocean or river waters.

A formal declaration before a duly authorized officer by a person who has executed an instrument that such execution is his act and deed.

The act or process by which a person procures prosperity.

A person appointed by the private court to administer the estate of a person deceased.

According to valuation.

The open and notorious possession and occupancy under an evident claim or right, in denial or opposition to the title of another claimant.

A statement or declaration reduced to writing sworn to or affirmed before some officer who has authority to administer an oath or affirmation.

To confirm, to aver, to ratify, to verify.

One who represents another from whom he has derived authority.  An employee of the principal.

A written agreement or contract between seller and purchaser on which they reach a meeting of minds on the terms and conditions of the sale.

AIR RIGHT

The right of the property owner to use, control or occupy the air space over his property subject to the requirements of aerial navigations and government regulations.

ALIENATION
 

The transferring of property to another; the transfer of property and possession of lands, or other things, from one person to another.

Soil deposited by accretion.  An increase of earth on a shore or bank of a river.

AMORTIZATION

The liquidating of a financial obligation on installment basis, also recovery over a period of cost or value.

As estimate and opinion of value; a conclusion resulting from the analysis of facts.

APPURTENANCE

Something annexed to another thing which may be transferred incident to it.  That which belongs to another thing as a barn, dwelling, garage, or orchard, is incident to the land to which it is attached.

ASSESSED VALUATION

A valuation of property for the purpose of public officer or board as a basis for taxation.

Value placed on property as a basis for taxation.

The valuation of property for the purpose of levying a tax or the amount of the tax levied.

The official who has the responsibility of determining assessed values.

A transfer to another of the whole of any property real or personal in possession or in action, or of any estate or right there in.

One who assigns or transfer property.

Those to whom property shall have been transferred.

The taking of title to property by a grantee wherein he assumes liability for payment an existing note secured by a mortgage or deed of trust against the property; becoming a co-guarantor for the payment of a mortgage or deed of trust note.

Seizure of property by court order usually done to have it available in the event a judgment is obtained in a pending suit.

One who is authorized to perform certain acts for another under a power of attorney; the power of attorney may be limited to a specific act or acts or it may be general .

A stipulation in a mortgage of several properties providing that when a buyer of one or more lots pays in full the purchase price a portion of the payment shall be applied to the mortgage obligation and the mortgagee shall correspondingly release said lot or lots from the mortgage.

The sudden tearing away or removal of land by action of water flowing over or through it.