KEY TERMS

Advance payment of part of the purchase price to bind a contract for property.

An interest in land owned by another that entitles its holder to a specific limited use, such as laying a sewer, putting up electric power lines or crossing the property. Also see “Right of Way.”

The right to leave a tract of land.

The power of the state to take private property for
public use upon payment of just compensation.

A trespass or intrusion onto another’s property, usually by a structure, wall or fence.

The conversion of data into a form that cannot be easily understood by unauthorized people. The process of encoding a message so that it can be read only by the sender and the intended recipient. Encryption is the most effective way to achieve data security.

To burden a parcel of land with a lien or charge.

A lien, liability or charge upon a parcel of land, e.g. a
mortgage or easement.

A reversion of property to the state in those cases where an individual dies without heirs or devisees, and, in some states, without a will.

A procedure whereby a disinterested third party handles legal documents and funds on behalf of a seller and buyer, and delivers them upon performance by the parties.

A person’s possessions. The extent of a person’s interest in real property.

The investigation and interpretation of the record title to real property based on the title search or abstract.

In legal descriptions, that portion of land to be deleted
or excluded. The term often is used in a different sense to mean an encumbrance on title, excluded from coverage in a title insurance policy.

A person appointed by the probate court to carry out the terms of a will. The term is “executrix” if that person is a woman. Also see “Personal Representative.”