ABSTRACT

An abbreviation of the main aspects of all recorded deeds, mortgages, leases and other instruments affecting the title to a particular piece of land.

ACKNOWLEDGMENT

(1) Generally, the act of the maker or makers of a real estate instrument in going before a Notary Public or other judicial officer and acknowledging that they signed that instrument without fear or compulsion, and for the purposes expressed in it. The laws providing for acknowledgments incident to real estate papers were enacted to[…]

ADMINISTER

To pay the debts and wind up the business of a deceased person’s estate. Also, to handle and dispose of properties of an estate by an executor, administrator or trustee in conformity with legal procedures and provisions of wills or trust instruments.

ADVERSE POSSESSION

Unauthorized occupation of land belonging to another, by a person who does not have the owner’s consent. The occupier is said to hold possession adversely to the rights and interests of the owner. In most states, by operation of law, title to the land becomes vested in the occupier after a fixed number of years[…]

AFFIDAVIT

A written statement made under oath before a notary public or other judicial officer.

AGENCY

Authorization of an individual or corporation to act for another person or corporation. The scope of an agency depends upon the authority given to the agent.

AGENT

One who, having received authority from another, acts in such other person’s behalf within the scope of that authority.

AGREEMENT

A legally binding compact made between two or more persons.

ALLODIAL TENURE

Absolute ownership of real estate which is subject to inheritance by the owner’s heirs or to disposition by the owner as he sees fit, as opposed to the feudal system of ownership. Allodial tenure is characteristic of ownership in the United States.