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Severalty
Severalty Sole ownership of real property.
RELATED TERMS--------------------------------------
Ownership
The right to possess and use property to the exclusion of others.
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.
SIMILAR TERMS--------------------------------------
Sevenoaks property
Property in Sevenoaks, Great Britain. Apartments, flats, houses, offices and other property in Sevenoaks.
Seventy-two hour clause
Wording that is inserted in a purchase contract when the purchase of a home is contingent on the sale of the buyer's current home. The seller accepts the offer but reserves the right to accept a better offer if one comes along.
Severance
Changing an item of real estate to personal property by detaching it from the land.
Severodonetsk property
Property in Severodonetsk, Ukraine. Apartments, flats, houses, offices and other property in Severodonetsk.
Severodvinsk property
Property in Severodvinsk, Russia. Apartments, flats, houses, offices and other property in Severodvinsk.
PREVIOUS AND NEXT TERMS--------------------------------------
Set up sheet
Also know as an "Annual Property Cash Flow Statement." Includes cash flow information about a listed rental property that is passed out to other real estate companies and-or given to prospective buyers.
Setback
The distance from the front or interior property line to the point where a structure can be located.
Settlement
Another name for closing.
Settlement Cost, HUD Guide
This booklet gives an overview of the lending process and is required by HUD. It is provided to consumers after the loan application is completed.
Settlement statement
A statement prepared by broker, escrow or lender giving a complete breakdown of the cost associated with a real estate transaction.
Severalty
Severance
Changing an item of real estate to personal property by detaching it from the land.
Share certificate
A certificate of deposit issued by a credit union that pays a specific dividend if held for a specific period. It's the credit union equivalent of a certificate of deposit.
Sharecropping
In an agricultural lease, the agreement between the landowner and the tenant farmer to split the crop or the profit from its sale, actually sharing the crop.
Shared appreciation mortgage (SAM)
A mortgage loan in which the lender, in exchange for a loan with a favorable interest rate, participates in the profits (if any) the borrower receives when the property is eventually sold.
Shared ownership
The occupant does not fully own the property. Common in housing association properties whereby both the association and occupier own a part of the property.
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