Unity Of Possession

Definition of "Unity of possession"

Principle stating that the joint tenants must have equal rights to possession of the whole property.

Search Real Estate Glossary

Related Real Estate Glossary terms

Distribution Title

Probate court approved title issued to the distribute of an individuals intestate estate. ...

Market Assistance Plans (maps)

Voluntary state insurance programs that aid small businesses in acquiring insurance coverages when t ...

Salesman

Coverage for sample merchandise while in the custody of a salesperson. ...

Secular Trust [402(b)] (nonexempt Trust)

Non qualified plan of deferred compensation whose goal is to compensate key employees without having ...

Net Long-term Gain

In taxation, the excess of total long-term gains minus total long-term losses on the sale of real es ...

Hazard Insurance

Insurance purchased by the borrower and required by the lender, to protect the property against loss ...

Related Real Estate FAQ

What Is A Point?

A point is equal to 1 percent of a loan amount. Lenders charge points in exchange for lowering the i ...

What Is Underwriting?

Underwriting is the process of evaluating a loan to determine whether the loan is a good risk. ...

What Is A Buildable Acre?

A Buildable acre consists of 43,560 square feet of residentially designated buildable land, after ex ...

What Type Of A Home Is A Condominium?

A condominium is a form of home ownership in which the owner owns the airspace within the walls but ...

What Is A Mortgage?

A mortgage is a legal document that pledges your property as security (like collateral) for a loan. ...

What Is Escrow?

Escrow is a trust account created by a neutral third party to hold money for the seller or buyer. Wh ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

Top Five Reasons Your Home Offer was Rejected How is Square Footage Determined? Mortgage Loan Types How To Choose A Realtor What is the Best Time of Year to Buy a Home?

FAQ

What is a mortgagor? What is a buyer’s agent? What is a proprietary lease? What is a title? What is a gated community?