Holly Springs Construction Lawyer, Mississippi

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.

An old legal term that is generally used to refer to real estate left to someone under the terms of a will, or to the act of leaving such real estate. In some states, 'devise' now applies to any kind of property left by will, making it identical to the term bequest. Compare legacy.

A legal claim placed on real estate by someone who is owed money for labor, services or supplies contributed to the property for the purpose of improving it. Typical lien claimants are general contractors, subcontractors and suppliers of building materials. A mechanics' lien claimant can sue to have the real estate sold at auction and recover the debt from the proceeds. Because property with a lien on it cannot be easily sold until the lien is satisfied (paid off), owners have a great incentive to pay their bills.

A way for married couples to hold title to property, available in Arizona, California, Nevada, Texas and Wisconsin. It allows one spouse's half-interest in community property to pass to the surviving spouse without probate.

Another term for real estate. It includes land and things permanently attached to the land, such as trees, buildings, and stationary mobile homes. Anything that is not real property is termed personal property.