Real Estate Glossary

Trees or crops that are cultivated annually; the rights of a tenant to harvest the annual crop even after his tenancy has ended.

The right of a government to take private property for public use upon the payment of just compensation.

A building or fixture which intrudes partly or wholly upon the property of another.

A claim, line, charge, or liability attached to and binding upon real property which affects or limits the title thereof.

The placing of one's signature on a document, to make it negotiable or transferable.

A value used to adjust the market values of properties which have been assessed using differing assessment ratios.

The period of time between the point when the borrower goes into default and the actual foreclosure sale within which the borrower or another interested party can pay the current (or entire) indebtedness and redeem the property.

The right that exists in equity to obtain absolute ownership to property when title is held in another's name; an interest in title to land that may not amount to a fee simple estate but is nonetheless a right of which a court will take notice and seriously consider.

The interest or value which an owner has in real estate over and above the liens against it; branch or remedial justice by and through which relief is afforded to parties in courts of equity.

The gradual wearing away of land due to natural causes of wind and water.