Word of the Week:


Undivided Interest: 

A co-owner’s interest, giving him or her the right to possession of the whole property,

 rather than to a particular section of it.

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Word of the week:


Ingress ~ A means of entering a property; the opposite of egress.

  The terms ingress and egress are most commonly used in reference

 to an access easement.

 

Word of the Week


 

Redlining

Refusal by a lender to make loans secured by property

in a certain neighborhood

 because of the racial or ethnic composition of the neighborhood,

in violation of fair housing laws.

 

Word of the Week:


Reserves for Replacement:

For imcome producing property, regular allowances

set aside to pay for the replacement of structures and

equipment that are expected to wear out.

 

Friday Funny


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Word of the Week:


Title Report:

A report  issued by a title company,

disclosing the condition of the title to a specific piece of property,

 before the actual title insurance policy is issued. 

Often called a preliminary title report.

Word of the Week


Title Theory:

The theory holding that a mortgage gives the lender

legal title to the security property while the

debt is being repaid. 

Most states follow lien theory instead. 

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