A provision in a deed or will that attempts to restrict ownership of the property -- for example, selling your house to your daughter with the provision that it... (more...)

A provision in a deed or will that attempts to restrict ownership of the property -- for example, selling your house to your daughter with the provision that it never be sold to anyone outside the family. These provisions are generally unenforceable.

SERVIENT TENEMENT

Property that is subject to use by another for a specific purpose. For example, a beachfront house that has a public walkway to the beach on its premises would ... (more...)

Property that is subject to use by another for a specific purpose. For example, a beachfront house that has a public walkway to the beach on its premises would be a servient tenement.

LIQUID ASSETS

Business property that can be quickly and easily converted into cash, such as stock, bank accounts and accounts receivable.

ADVERSE POSSESSION

A means by which one can legally take another's property without paying for it. The requirements for adversely possessing property vary between states, but usua... (more...)

A means by which one can legally take another's property without paying for it. The requirements for adversely possessing property vary between states, but usually include continuous and open use for a period of five or more years and paying taxes on the property in question.

EVICTION

Removal of a tenant from rental property by a law enforcement officer. First, the landlord must file and win an eviction lawsuit, also known as an 'unlawful det... (more...)

Removal of a tenant from rental property by a law enforcement officer. First, the landlord must file and win an eviction lawsuit, also known as an 'unlawful detainer.'

DONATION

A gift of property. The IRS allows you to take an income tax deduction for the value of donations made to charitable organizations who are recognized as such by... (more...)

A gift of property. The IRS allows you to take an income tax deduction for the value of donations made to charitable organizations who are recognized as such by the IRS.

HOUSE CLOSING

The final transfer of the ownership of a house from the seller to the buyer, which occurs after both have met all the terms of their contract and the deed has b... (more...)

The final transfer of the ownership of a house from the seller to the buyer, which occurs after both have met all the terms of their contract and the deed has been recorded.

RIGHT OF SURVIVORSHIP

The right of a surviving joint tenant to take ownership of a deceased joint tenant's share of the property. See joint tenancy.

INURE

To take effect, or to benefit someone. In property law, the term means 'to vest.' For example, Jim buys a beach house that includes the right to travel across t... (more...)

To take effect, or to benefit someone. In property law, the term means 'to vest.' For example, Jim buys a beach house that includes the right to travel across the neighbor's property to get to the water. That right of way is said, cryptically, 'to inure to the benefit of Jim.'

SAMPLE LEGAL CASES

RON MEDLIN CONST. v. Harris

RON MEDLIN CONSTRUCTION, a Partnership, and George Ronald Medlin, Individually, Plaintiffs, v. Raymond A. HARRIS and Sarah N. Harris, Defendants, and Ron Medlin Construction, a Partnership, and GEORGE RONALD MEDLIN, Individually, Plaintiffs and Third Party ...

SCHENKEL & SHULTZ v. HERMON FOX & ASSOCS.

... Construction began in the fall of 2000, but by the spring of 2001, project contractors, subcontractors, and consultants documented in correspondence with Schenkel their concerns regarding the integrity of the structural steel components of the project and requested that an ...

Persis Nova Const., Inc. v. Edwards

PERSIS NOVA CONSTRUCTION, INC., d/b/a Persis-Nova Construction Company a/k/a P & N Homes, Plaintiff, v. Bruce K. EDWARDS and Kathlyn E. Edwards, Defendants. ... The final contract price of the construction cost of Mr. and Mrs. Edwards has been finalized at $274,500.... ...

Maggie Valley Construction Lawyer, North Carolina

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LEGAL TERMS

RESTRAINT ON ALIENATION

SERVIENT TENEMENT

LIQUID ASSETS

ADVERSE POSSESSION

EVICTION

DONATION

HOUSE CLOSING

RIGHT OF SURVIVORSHIP

INURE

SAMPLE LEGAL CASES

RON MEDLIN CONST. v. Harris

SCHENKEL & SHULTZ v. HERMON FOX & ASSOCS.

Persis Nova Const., Inc. v. Edwards

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