DEFEASIBLE FEE ESTATE
AN ESTATE IN WHICH THE HOLDER HAS A FEE SIMPLE TITLE THAT MAY BE DIVESTED ON THE OCCURRENCE OR NONOCCURRENCE OF A SPECIFIED EVENT. THE TWO CATEGORIES OF DEFEASIBLE FEE ESTATES ARE FEE SIMPLE DETERMINABLE AND FEE SIMPLE SUBJECT TO A CONDITION SUBSEQUENT.
DETERMINABLE FEE ESTATE
A FEE SIMPLE ESTATE IN WHICH THE PROPERTY AUTOMATICALLY REVERTS TO THE GRANTOR UPON THE OCCURRENCE OF A SPECIFIED EVENT OR CONDITION.
EASEMENT
RIGHT TO USE THE LAND OF ANOTHER FOR A SPECIFIC PURPOSE, SUCH AS FOR A RIGHT OF WAY OR UTILITIES
EASEMENT APPURTENANT
AN EASEMENT THAT PASSES WITH THE LAND ON CONVEYANCE
EASEMENT BY IMPLICATION
AN EASEMENT THAT ARISES WHEN THE PARTIES' ACTIONS IMPLY THAT THEY INTEND TO CREATE AN EASEMENT
EASEMENT BY NECESSITY
AN EASEMENT ALLOWED BY LAW AS NECESSARY FOR THE FULL ENJOYMENT OF A PARCEL OF REAL ESTATE; FOR EXAMPLE, A RIGHT OF INGRESS AND EGRESS OVER A GRANTOR'S LAND
EASEMENT BY PRESCRIPTION
AN EASEMENT ACQUIRED BY CONTINUOUS, OPEN, UNINTERRUPTED, EXCLUSIVE, AND ADVERSE USE OF THE PROPERTY FOR TEN YEARS
EASEMENT IN GROSS
AN EASEMENT THAT IS NOT CREATED FOR THE BENEFIT OF ANY LAND OWNED BY THE OWNER OF THE EASEMENT BUT THAT ATTACHES PERSONALLY TO THE EASEMENT OWNER; FOR EXAMPLE, A UTILITY EASEMENT
EMINENT DOMAIN
THE RIGHT OF A GOVERNMENT OR PUBLIC ENTITY TO ACQUIRE PROPERTY FOR PUBLIC USE; THE ENTITY MUST MAKE A GOOD FAITH EFFORT TO ACQUIRE THE REAL PROPERTY THROUGH DIRECT NEGOTIATION AND PURCHASE FROM THE OWNER
ENCROACHMENT
A BUILDING OR SOME PORTION OF IT--A WALL OR FENCE, FOR INSTANCE, THAT EXTENDS BEYOND THE LAND OF THE OWNER AND ILLEGALLY INTRUDES ON SOME LAND OF AN ADJOINING OWNER OR A STREET OR ALLEY
ENCUMBRANCE
ANY LIEN (SUCH AS A MORTGAGE, TAX, OR JUDGMENT LIEN, OR AN EASEMENT OR A RESTRICTION ON THE USE OF THE LAND THAT MAY DIMINISH THE VALUE OF A PROPERTY; A CLOUD AGAINST CLEAR, FREE TITLE TO PROPERTY
ESCHEAT
THE REVERSION OF PROPERTY TO THE STATE IN THE EVENT THAT THE PROPERTY IS ABANDONED OR THE OWNER DIES WITHOUT LEAVING A WILL & HAS NO HEIRS TO WHOM THE PROPERTY MAY PASS.
ESTATE IN LAND
THE DEGREE, QUANTITY, NATURE AND EXTENT OF INTEREST THAT A PERSON HAS IN REAL PROPERTY
FEE SIMPLE
THE MAXIUMUM POSSIBLE ESTATE OR RIGHT OF OWNERSHIP OF REAL PROPERTY, CONTINUING FOREVER. SOMETIMES CALLED A FEE OR FEE SIMPLE ABSOLUTE
FEE SIMPLE BY SUBJECT TO A CONDITION SUBSEQUENT
AN ESTATE CONVEYED "PROVDED THAT" OR "IF" IT IS USED FOR A SPECIFIC PURPOSE. IF IT IS NO LONGER USED FOR THAT PURPOSE, IT REVERTS TO THE ORIGINAL GRANTOR OR HIS HEIRS BY THEIR EXERCISE OF THE RIGHT OF REENTRY
FEUDAL SYSTEM
A SYSTEM OF OWNERSHIP USUALLY ASSOCIATED WITH PRECOLONIAL ENGLAND IN WHICH THE KING OR OTHER SOVEREIGN WAS THE SOURCE OF ALL RIGHTS. THE RIGHT TO POSSESS REAL PROPERTY WAS GRANTED BY THE SOVEREIGN TO AN INDIVIDUAL, TITLE PASSED BACK TO THE SOVEREIGN, NOT
FREEHOLD ESTATE
AN ESTATE IN LAND IN WHICH OWNERSHIP IS FOR AN INDETERMINATE LENNGTH OF TIME, IN CONTRAST TO A LEASEHOLD ESTATE
GRANTEE
A PERSON WHO RECEIVES A CONVEYANCE OF REAL PROPERTY FROM THE GRANTOR
GRANTOR
THE PERSON TRANSFERRING TITLE TO OR AN INTEREST IN REAL PROPERTY TO A GRANTEE
GROUNDWATER RIGHTS
WATER UNDER THE EARTH'S SURFACE BELOW THE SATURATION POINT ANDUSED BY A PROPERTY OWNER THROUGH THE RULE OF CAPTURE
HOMESTEAD
LAND THAT IS OWNED AND OCCUPIED AS THE FAMILY HOME. IN TEXAS, HOMESTEAD PROPERTY IS PROTECTED OR EXEMPT FROM FORCED SALE BY CREDITORS FOR PAYMENTS OF MOST DEBTS, WITH SEVERAL EXCEPTIONS.
LICENSE
1. A PRIVILEGE OR RIGHT GRANTED TO A PERSON BY A STATE TO OPERATE AS A REAL ESTATE BROKER OR SALEPERSON 2. THE REVOCABLE PERMISSION FOR A TEMPORARY USE OF LAND--A PERSONAL RIGHT THAT CANNOT BE SOLD
LIFE ESTATE
AN INTEREST IN REAL OR PERSONAL PROPERTY THAT IS LIMITED IN DURATION TO THE LIFETIME OF ITS OWNER OR SOME OTHER DESIGNATED PERSON
LITTORAL RIGHTS
1. A LANDOWNER'S CLAIM TO USE WATER IN LARGE NAVIGABLE LAKES AND OCEANS THAT ARE ADJACENT TO HIS OR HER PROPERTY. 2.. THE OWNERSHIP RIGHTS TO LAND BORDERING THESE BODIES OF WATER UP TO THE MEAN VEGETATION LINE.
POLICE POWER
THE GOVERNMENT'S RIGHT TO IMPOSE LAWS, STATUTES, AND ORDINANCES, INCLUDING ZONING ORDINANCES & BUILDING CODES, TO PROTECT THE PUBLIC HEALTH, SAFETY, MORALS, AND WELFARE.
PRIOR APPROPRIATION
A CONCEPT OF WATER OWNERSHIP IN WHICH THE LANDOWNER'S RIGHT TO USE AVAILABLE WATER IS BASED ON A GOVERNMENT-ADMINISTERED PERMIT SYSTEM
REMAINDER INTEREST
THE FUTURE INTEREST IN AN ESTATE THAT TAKES EFFECT AFTER THE TERMINATION OF ANOTHER ESTATE, SUCH AS A LIFE ESTATE OWNER, OWNERSHIP WILL PASS TO A NAMED THIRD PARTY
RESTRICTION
A CLAUSE IN A DEED THAT LIMITS THE WAY PROPERTY MAY BE USED; GENERALLY ORIGINATED BY THE OWNER OR DEVELOPER IN A DEED. SEE ALSO DEED RESTRICTIONS (THIS WAS UNDER RESTRICTIVE CONVENANT)
REVERSIONARY INTEREST
THE FUTURE INTEREST IN AN ESTATE THAT TAKES EFFECT AFTER THE TERMINATION OF ANOTHER ESTATE, SUCH AS A LIFE ESTATE; ON THE DEATH OF THE LIFE ESTATE OWNER, OWNERSHIP REVERTS TO THE GRANTOR OR HIS HEIRS OR DEVISEES.
RIGHT-OF-WAY
THE RIGHT OR PRIVILEGE, ACQUIRED THROUGH ACCEPTED USAGE OR CONTRACT, TO PASS OVER A DESIGNATED PORTION OF THE PROPERTY OF ANOTHER.
RIPARIAN RIGHTS
AN OWNER'S RIGHTS IN LAND THAT BORDERS ON OR INCLUDES A STREAM OR RIVER. THESE RIGHTS INCLUDE ACCESS TO AND USE OF THE WATER FOR DOMESTIC PURPOSES.
TAXATION
THE PROCESS BY WHICH A GOVERNMENT OR MUNICIPAL BODY RAISES MONIES TO FUND AN OPERATION.