Nonalienation Clause
A clause in a document forbidding an individual from selling or transferring the subject property to another. Frequently, nonalienation clauses are used in a trust where the grantor of the trust believes the designated beneficiary is a spendthrift. In this situation, a nonalienation clause may be inserted to prevent the beneficiary from selling the assets of the trust. This type of trust is called a spendthrift trust.
Popular Real Estate Terms
Percentage of rentals estimated not to be made because of actual and anticipated vacancies. ...
property that has been segregated into parts. ...
Person who dies leaving a will specifying the distribution of the estate. ...
Written proposals and acceptances applicable to the aspects of the transaction. The escrow agent must follow the purchase and sale agreement. ...
Individually owned lots and houses with community ownership of common areas. ...
Tenant breaks the lease because the landlord does not keep the premises habitable. ...
The right to demand that title be conveyed upon payment of the purchase price. ...
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See savings and loan association. ...
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