Real Estate Glossary

Property owned by a husband or wife which is not community property; property acquired by either spouse prior to marriage or by gift or devise after marriage.

An estate of land over which an easement exists in favor of the dominant estate; servient tenement.

A servitude is the alienation of one of the elements of ownership of one estate in favor of another. An easement under the common law is not necessarily the same legal right as a servitude under Louisiana law. Servitudes may be lost through the failure to use them. There are two classes: personal and predial.

An ordinance prohibiting the erection of a building or structure between the curb or other established line and the setback line; the distance a house must be set back from the street in accordance with local zoning rules.

Sole or independent ownership.

Damages paid to an owner when his property has been partially taken by condemnation, thus reducing the highest and best use of the remaining property.

Interest computed upon the declining balance of a particular amount; as principal declines so does the interest payment.

The site, place, location or position occupied by real property.

A person who is authorized to perform only certain specified functions on behalf of his principal.

An assessment generally made against only those specific parcels of realty directly benefiting therefrom.