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Land trusts
Land trusts A few states permit the creation of land trusts, in which real estate is the only asset. As in all trusts, the title to the property is conveyed to a trustee, and the beneficial interest belongs to the beneficiary. In the case of land trusts, however, the beneficiary is usually also the trustor.
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Land
The earth's surface, extending downward to the center of the earth and upward infinitely into space, including things permanently attached by nature, such as trees and water.
Estate
The ownership interest of a person in real property, also used to refer to a deceased person's property.
Asset
Items of value owned by an individual. Assets that can be quickly converted into cash are considered "liquid assets."
Title
1) The rights of ownership and possession of particular property. 2) In real estate usage, title may refer to the instruments or documents by which a right of ownership is established (title documents), or it may refer to the ownership interest one has in the real estate.
Property
The rights of ownership. The right to use, possess, enjoy, and dispose of a thing in every legal way and to exclude everyone else from interfering with these rights.
Trustee
A party who is given legal responsibility to hold property in the best interest of or "for the benefit of" another.
Interest
Money paid to a lender as compensation for money that is borrowed.
Beneficiary
The lender named on the mortgage note, entitled to the proceeds of property held in trust; also proceeds of wills, insurance policies, or trusts.
Trustor
The person who creates a trust and gives the instructions to the trustee.
SIMILAR TERMS--------------------------------------
Land
The earth's surface, extending downward to the center of the earth and upward infinitely into space, including things permanently attached by nature, such as trees and water.
Land Certificate
Proof of ownership for a property with no mortgage on it. Gives details of the boundaries of the property and covenants affecting it.
Land contract
Installment plan for buying a house, used as an alternative to obtaining a loan from a traditional, source such as a mortgage banker or savings and loan.
Land locked
Land lockedis the parcel of real property that has no access or egress (entry or exit) to a public street and that can be reached only by crossing another's property.
Land registration
The process by which the owners of a property officially register the title in their name.
Land registry fee
A fee paid to register ownership of an area of land with the Land Registry. It is charged on a sliding scale according to the value of the property.
Land surface
Land surfacerefers to the ground surface, the upper surface of the solid earth.
Land survey
Land surveyrefers to accurately determining the terrestrial or 3D space position of points and the distances and angles between them.
Land tax
An annual tax paid to the state government, calculated according to the value of the property. In NSW the rate is adjusted yearly and it is up to the land owner to determine if they are liable to pay.
Land use
Land useis the exploitation of land for agricultural, residential, industrial, recreational or other purposes.
Landfill
A landfill is an enormous hole, either excavated for the purpose of waste disposal or left over from a surface mining operation. The hole is lined with clay or a synthetic lining to prevent leakage of waste into the surrounding water supply.
Landlord
One who rents property to a tenant.
Landlord's warrant
A warrant from a landlord to levy upon a tenant's personal property (e.g., furniture, etc.) and to sell this property at a public sale to compel payment of the rent or the observance of some other stipulation in the lease
Landlord’s reference
A lender may refer to a landlord’s reference to check the borrower’s previous rent payment history and assess whether they constitute a lending risk.
Landscape
A home's surroundings can range from a shrub-studded emerald lawn to a native-plant xeriscape. It is a major component of curb appeal.
Landscape architect
A professional who holds a degree in landscape architecture, which involves training in horticulture, landscape design and planning.
Landscape contractor
A professional who carries out the plans of a landscape architect or a landscape designer.
Landscape designer
A landscape designer has training in horticulture and landscape planning, but does not necessarily hold a degree.
PREVIOUS AND NEXT TERMS--------------------------------------
Land Certificate
Proof of ownership for a property with no mortgage on it. Gives details of the boundaries of the property and covenants affecting it.
Land contract
Installment plan for buying a house, used as an alternative to obtaining a loan from a traditional, source such as a mortgage banker or savings and loan.
Land registration
The process by which the owners of a property officially register the title in their name.
Land registry fee
A fee paid to register ownership of an area of land with the Land Registry. It is charged on a sliding scale according to the value of the property.
Land tax
An annual tax paid to the state government, calculated according to the value of the property. In NSW the rate is adjusted yearly and it is up to the land owner to determine if they are liable to pay.
Land trusts
Landfill
A landfill is an enormous hole, either excavated for the purpose of waste disposal or left over from a surface mining operation. The hole is lined with clay or a synthetic lining to prevent leakage of waste into the surrounding water supply.
Landlord
One who rents property to a tenant.
Landlord’s reference
A lender may refer to a landlord’s reference to check the borrower’s previous rent payment history and assess whether they constitute a lending risk.
Landlord's warrant
A warrant from a landlord to levy upon a tenant's personal property (e.g., furniture, etc.) and to sell this property at a public sale to compel payment of the rent or the observance of some other stipulation in the lease
Landscape
A home's surroundings can range from a shrub-studded emerald lawn to a native-plant xeriscape. It is a major component of curb appeal.
This dictionary contains 6433 terms. |
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