Easement By Necessity

Definition of "Easement by necessity"

Sandy Choi Keller Williams Real estate

Created by law usually for the right to travel to landlocked parcel of land

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Type Of Use

Stipulation in a contract on how property can or cannot be used. For example, a rental agreement may stipulate that an apartment may not be used for r ...

Depreciation Recapture

Part of a capital gain constituting tax benefits previously taken and taxed as ordinary income. ...

Main

In an electrical system, the connection box where all the circuit systems are installed with a series of electrical breakers. The major distribut ...

Life Tenant

The grantee who is the tenant of a life estate. When the tenant dies, the estate goes back to the grantor. For example, President Eisenhower and his w ...

Competent

An individual legally fit and able to undertake an activity or function. ...

Quadrominium

A four-unit building with four tenants in a condominium type of ownership and management. ...

Popular Real Estate FAQ

What Is A Proration?

A proration is the division of certain fees. If the sellers have paid the taxes six months in advance, for example, they may want a portion of that pa ...

What Are Basis Points?

Basic points relates to changes in the interest rate for your home. ...

What Is A Title Search?

A title search is the process of reviewing court records and other records to ensure that there are no liens or claims against the property you are bu ...