Hillsdale Real Estate Lawyer, Indiana

A deed that transfers whatever ownership interest the transferor has in a particular property. The deed does not guarantee anything about what is being transferred, however. For example, a divorcing husband may quitclaim his interest in certain real estate to his ex-wife, officially giving up any legal interest in the property. Compare grant deed.

The substitution of a new contract for an old one. A novation may change one of the parties to the contract or the duties that must be performed by the original parties.

A legal doctrine that requires landlords to offer and maintain livable premises for their tenants. If a landlord fails to provide habitable housing, tenants in most states may legally withhold rent or take other measures, including hiring someone to fix the problem or moving out. See constructive eviction.

A person who specializes in matching home buyers with appropriate mortgage lenders. For a fee--often paid by the lender--a loan broker provides any easy and effective way to find the cheapest mortgage rates.

Property that carries a right to use a portion of a neighboring property. For example, property that benefits from a beach access trail across another property is the dominant tenement.

Language used to leave property to a person and his or her descendants, which typically take the form 'to A, and the heirs of his body,' where A is the person receiving the property.

A computer-based service that provides real estate professionals with detailed listings of most homes currently on the market. Much of the information can now be obtained by the public through websites like www.realtor.com.

A non-U.S. citizen who has been given permission to make his or her permanent home in the United States. If you acquire permanent residence, you will be issued a green card to prove it. The terms permanent resident and 'green card holder' mean exactly the same thing. You cannot be a permanent resident without a green card and you cannot have a green card without being a permanent resident. As a permanent resident, you may travel as much as you like, but your place of residence must be the United States and you must keep that residence on a permanent basis. If you leave the United States and stay away for more than a year, you risk losing your green card.

A lump sum cash payment paid by a buyer when he or she purchases a major piece of property, such as a car or house. The buyer typically takes out a loan for the balance remaining, and pays it off in monthly installments over time.