Word of the Week:


Incorporeal Rights:

Rights in real property that do not involve physical possession of anything,

such as a dominant tenant’s right to use the servient tenant’s land-an easement. 

An easement appurtenant is an incorporeal hereditament, because it is inheritable,

but an easement in gross is merely an incorporeal right, because it is not inheritable.

 

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Word of the Week:


Minimum Property Requirements (MPR’s)

 

A lender’s requirements concerning the physical condition of a

 building,

 which must be met before a loan can be approved.