Discalimer: The terms and descriptions provided in this document are intended as a helpful resource only and should not be considered valid for real estate transactions or legal purposes. Contact a licensed real estate agent or legal representative for clarification of terms if you have any questions.

ABSTRACT - A history of the ownership of a property, showing transfers in ownership and factors affecting ownership, such as mortgages.

ABUTTER - A person whose property abuts, is contiguous, or joins at a border or boundary; where no other land, road or street intervenes.

ACCELERATION CLAUSE - A clause in a promissory note, agreement of sale, or mortgage which gives the lender the right to call all sums due and payable in advance of the fixed payment date upon the occurrence of a specified event, such as a sale, default, assignment or further encumbrance of the property. Usually the payee has the option to accelerate the note upon default of payment of any installment when due, provided he gives adequate notice and specifies a time within which the defaulting party can cure the other breaches of provisions in the contract, such as failure to pay taxes and assessments, or failure to keep the property insured or in repair. The provision for acceleration must be expressly set forth in the mortgage or agreement of sale document, otherwise, the right does not exist. There should be a consistency between the acceleration provisions stated in the mortgage and those stated in the promissory note.

ACCEPTANCE - The expression of the intention of the person receiving an offer (offeree, usually the seller) to be bound by the terms of the offer. The acceptance must be communicated to the offeror and must be in writing to be enforceable. The buyer has the right to revoke the offer anytime before the seller's acceptance.

ACCESSION - Acquisition of title to additional improvements to real property as a result of annexation of fixtures or of accretion of alluvial deposits.

ACCRETION - An increase in dry land by gradual deposit of waterborne, solid material and riparian land, i.e., accretion by alluvion. The owner of riparian land becomes owner of title to land formed by accretion. Antonym: erosion.

ACCRUED DEPRECIATION - The difference between the present worth of improvements and the reproduction or replacement cost new, both measured on the appraisal date.

ACKNOWLEDGMENT - A formal declaration made before an authorized official by a person executing a document, that he signs the document by a free act and deed. The official is usually a notary public who witnesses the signature and verifies the identity of the person.

ACQUISITION - The act of becoming the owner of certain property; used also of the thing or property acquired.

ACRE - A measure of land equaling 43,560 square feet; or 4,840 square yards; or 160 square rods; or a tract about 208.71 feet square.

ACRE FOOT OF WATER - A volume of water that will cover an area of one acre to the depth of one foot: 43,560 cubic feet.

ACTIVE INSTALLATION - An installation in continuous use by active Army organizations.

AD VALOREM TAX - A tax on the value of the object or thing subject to taxation.

ADMINISTRATOR - A person appointed by the court to manage and settle the estate of a deceased person who has left no will.

ADVERSE POSSESSION - Acquisition of title to real property owned by someone else, by open, notorious, and continuous possession for the statutory period of time. Burden to prove title is on the possessor, who does not have a marketable title until he obtains and records a judicial decree quieting title. No right of adverse possession may be obtained against the United States.

AFFIDAVIT - A written declaration, sworn before an officer who has authority to administer oaths.

AGREEMENT OF SALE - A written agreement whereby the purchaser agrees to buy certain real estate and the seller agrees to sell upon terms and conditions set forth in the agreement.

AIR RIGHTS - The rights vested by a grant of an estate in real property to build upon, occupy, or use, in the manner and degree permitted, all or any portion of space above the ground or any other stated elevation within vertical planes, the basis of which corresponds with the boundaries of the real estate described in the grant.

ALIENATION - The voluntary transfer of real property from one person to another.

ALLOCATION - An amount of obligational authority transferred from one agency, bureau or account and set aside in a transfer appropriation account to carry out the purposes of the parent appropriation or fund.

ALLOTMENT - Authorization by the head of an agency to subordinates to incur financial obligations up to a specified amount. An agency makes allotments under the regulations in OMB Circular No. A-34, and not to exceed the amount allowed by OMB.

ALLUVION - A kind of accretion on riparian land by action of water which deposits sediment. See also ALLUVIUM, AVULSION.

ALLUVIUM - Sand, clay or mud deposited as sediment on riparian land.

AMENITIES - Tangible and intangible benefits generated and received through exercise of rights to real property, not necessarily in the form of money.

AMORTIZATION - Liquidation or gradual retirement of a financial obligation by periodic installments.

AMORTIZATION PERIOD - The period of time for economic recovery of the net investment in a project. This period is the lesser of 1) the period of time over which the plan can be expected to serve a useful purpose, or 2) the period of time when further discounting of beneficial and adverse effects will not appreciably influence design.

ANGLE - A measure of rotation about a point, generally used in surveys to show the relationship of one line to another. Angles are usually measured in degrees, 360 degrees to a full circle or one full rotation back to the point of beginning. Each degree is broken down into 60 minutes, and each minute into 60 seconds.

ANIMAL UNIT - A measure of numbers of livestock equivalent to a mature cow. One A.U. equals 1,000 pounds live weight, or one cow, horse, or mule; five sheep or swine; six goats.

ANIMAL UNIT MONTH - A measure of forage or feed sufficient to feed one ANIMAL UNIT for 30 days. Usually expressed relative to acres of land.

ANNEXATION - The act of attaching, adding or joining one thing to another, generally a smaller or subordinate thing with a large or principal thing. Usually with respect to land or fixtures.

APPORTIONMENT - A distribution by OMB of amounts available for obligation in an appropriation or fund account, including budgetary reserves established by law. An apportionment divides amounts by specific time periods (quarters), activities, projects, objects, or a combination.

APPRAISAL - A written estimate and opinion of value; a conclusion resulting from the analysis of facts.

APPRAISER - One qualified by education, training, and experience who is hired to estimate the value of real and personal property based upon experience, judgment, facts, and the use of the formal appraisal processes.

APPRECIATION - An increased conversion value of property or mediums of exchange due to economic or related causes which may prove to be either temporary or permanent.

APPROPRIATION - Authorization by act of Congress permitting Federal agencies to incur obligations and make payments out of the 'treasury for specific purposes.

APPROPRIATIONS BILL - A bill that gives legal authority to spend or obligate money from the Treasury. An appropriations bill usually provides the actual monies approved by authorization bills, but not necessarily the full amount permissible.

APPURTENANCE - Something annexed to another principal thing and which passes as incident to it, for example a right of way or barn passing with a principal property.

ASSESSED VALUATION An assessment of property values, by a unit of Government, for purposes of taxation.

ASSESSMENT - A charge against real estate made by a unit of government to cover a proportionate cost of an improvement, such as street or-sewer.

ASSETS - All valuable things owned by a person, corporation, or other entity, encumbered or not.

ASSIGNMENT (OF TEASE) - A transfer to another of rights, interest, or claim in or to real or personal property. The party who assigns or transfers his interest is the assignor, and the assignee is the one to whom the assignment is made.

ASSUMPTION AGREEMENT - An undertaking of a debt or obligation primarily resting upon another person.

ASSUMPTION OF MORTGAGE - The taking of title to property by a grantee wherein he assumes liability for payment of an existing note secured by a mortgage or deed of trust against the property. He becomes a co-guarantor for the payment of the mortgage or deed of trust along with the original maker of the note, who is not released from his responsibility.

ATTACHMENT - The legal process of seizing the real or personal property of a defendant in a law suit, by levy or judicial order, and holding it in the custody of the court as security for satisfaction of the judgment.

ATTORNEY IN FACT - A person authorized to perform certain acts for another person, under power of attorney.

AUDIT - An examination of records of real estate transactions to verify accuracy and adequacy.

AUTHORIZATION BILL - Legislation to establish or continue the legal operation of a Federal program or agency, or to sanction a particular type of obligation or expenditure. Normally a prerequisite for an appropriation or other kinds of budget authority.

AVIGATION EASEMENT - The right granted by a land owner to an airport to use airspace above a specified height for the flight of aircraft. The owner may be prohibited from using the land for structures, trees, signs, stacks, etc. higher than a specified measure. Such restrictions will vary according to necessary glide angle.

AZIMUTH - The angle between A reference line,-usually north and south, and a line to an object, measured clockwise from south in Corps of Engineers surveying.

BASE LINE AND MERIDIAN - Established lines used by surveyors to locate and describe land under the rectangular survey method of property description used in most states. The first north-south line is the principal meridian; the first east-west line is the base line, at right angles to the meridian.

BASE MAP - A map with reference points - such as state, county, township, or state and geodetic coordinate lines, or other features - on which land ownership data can be plotted.

BATTURE LAND - Land between low tide water's edge and river bank or levee. Batture land is generally in the same ownership as abutting land, but may be sold separately.

BEARING - The cardinal direction (North, South, East, West) of a line; e.g., North 50 degrees, 30 minutes West.

BENCH MARK - A mark of known elevation affixed to a permanent reference or monument, such as an iron post or brass marker, usually embedded in cement or a concrete structure and used to establish elevations over other surveys in the area.

BENEFICIARY - A person who receives and benefits from the gifts or acts of another, such as one who is designated to receive the proceeds from a will or trust.

BEQUEATH - To leave personal property to another by will. To leave real property by will is to devise.

BILL OF SALE - A written instrument transferring title, right, and interest in personal property to another.

BINDER - An agreement to cover an earnest money deposit for the purchase of real property as evidence of the purchaser's good faith and intention to complete the transaction.

BLANKET MORTGAGE - A single mortgage which covets more than one piece of real estate.

BOND - Any obligation under seal. A real estate bond is a written obligation, usually issued on security of a mortgage or a trust deed.

BORROW PIT - Location where borrow material is removed; resulting depression.

BREACH OF CONTRACT - Violation of any of the terms or conditions of a contract without legal excuse.

BUDGET AUTHORITY - The authority to enter into obligations that will result in immediate or future expenditure of Federal funds. The three main kinds of budget authority ate appropriation, contract authority, and borrowing authority.

BUNDLE OF RIGHTS - Beneficial interests or rights which attach to the ownership of real property, including the right to sell, lease, encumber, use, enjoy, exclude, will, etc. When purchasing real estate, one actually buys the rights previously held by the seller, except those which are reserved or limited in the sale.

CAPITALIZATION - In appraising, determining value of property by considering net income and percentage of reasonable return on the investment.

CAPITALIZATION RATE - The percentage ratio between net income from investment and the value of the investment. Commonly expressed as "return on and return of" capital.

CARTOGRAPHY - The science or act of making maps.

CASH VALUE - The actual money that an Asset will bring on the open market without any lengthy delay.

CAVEAT EMPTOR - "Let the buyer beware" is Latin. Summarizes the rule that the buyer must examine, judge and test merchandise/property for himself.

CERTIFICATE OF NO DEFENSE - A legal instrument executed by a mortgagor setting forth the exact unpaid balance of a mortgage, the current rate of interest, and the date to which interest has been paid. It further states that the mortgagor has no defenses or offsets against the mortgage at the time of the execution of the certificate. Once the mortgagor has executed this certificate, he is therefore estopped from claiming that he did not owe the amount stated by him. Often used by the mortgagee when the mortgage is sold.

CERTIFICATE OF TITLE - A document stating that title to a particular property is clear. It is prepared by an attorney or qualified person who has examined the abstract of title, but is not to be confused with title insurance. It is only an opinion that title is good. Usually given to a homeowner with the deed.

CHAIN - A surveyor's unit of linear measure: 66 feet. Also, any length steel tape used to measure distance.

CHATTEL - Personal property which is tangible and movable. (The word "chattel" evolved from the word "cattle", one of man's early important possessions.)

CIVIL ACTION - Legal action brought to enforce, redress or protect private rights. All proceedings except criminal proceedings.

CIVIL RIGHTS ASSURANCE - Assurance that no person will be discriminated against or excluded from operations, programs or activities on the basis of race, color, age, sex, religion, handicap or national origin.

CLEAR TITLE - A title free and clear of all encumbrances.

CLOSING STATEMENT - An accounting by a broker of funds in a real estate sale, made to the seller and to the buyer.

CLOUD ON TITLE - An outstanding claim or encumbrance which would affect or impair the owner's title, if valid. A judgment or dower interest.

COINSURANCE - A relative division of risk between the insurer and insured, depending on relative amount of the policy and the actual value of the property insured. Takes effect only with partial loss, less than the amount of the policy coinsurance clauses induce the owner to carry full or nearly full coverage.

COLLOCATE - Sharing of one property by more than one user; especially armed forces recruiting facilities.

COLLATERAL HEIR - one who is not in the direct line of the deceased, but from a collateral line, as a brother/ sister, aunt/uncle, nephew/niece or cousin of the deceased.

COLLATERAL SECURITY - A separate obligation attached to a contract to guarantee its performance; the transfer of property or of other contracts or valuables, to ensure the performance of a principal agreement.

COLOR OF TITLE - The appearance of title (also called "apparent title"). Any fact, extraneous to the act or will of the claimant, which appears, on its face, to support his claim of title but, because of defect, falls short of establishing title.

COMMAND OPERATING BUDGET - The Command Operating Budget (COB) estimates costs of resource decisions and justifies command requirements. General operating agencies use information from the May Program Budget Guidance (PBG) to formulate the COB, which these agencies submit to HQDA in July.

COMMERCIAL CONCESSION - A special business arrangement usually made at a civil works project by leasing Army controlled real property to a private party who provides recreational services and facilities to the public at fair market value while seeking to make a profit. See also, MAJOR CONCESSION, MINOR CONCESSION, MIXED CONCESSION.

COMMITMENT OF FUNDS - Reservation of funds prior to obligation for a specific purpose, based on an estimate.

COMMON ELEMENT - In a condominium, land and parts of buildings used by all owners for mutual convenience and safety. See CONDOMINIUM

COMMON EXPENSE - In a condominium, expenses of operation and sums declared by the bylaws to be common expense.

COMMUNITY PROPERTY - Property accumulated through joint efforts of husband and wife, or by either one, during their marriage and owned in common.

COMPARABLE - Properties listed in an appraisal report which are substantially equivalent to the subject property, comparable in selling price, rental, income or similar measure.

COMPENSABLE INTEREST - Interest of parties that is to be compensated.

COMPLIANCE INSPECTION - Inspection of outgrants, military and civil, for compliance with terms of the outgrant and to review management/development of the property, particularly of outgrants which provide services to the general public.

COMPOUND INTEREST - Interest paid both on the original principal and on interest accrued from the time it fell due.

CONCESSION - A privilege granted to an individual by the Government, to sell food, etc., on Government land.

CONCURRENT LEGISLATIVE JURISDICTION - Legislative jurisdiction held by the United States concurrently with a state; the state grants to the U.S., and reserves to itself, the right to exercise the same legislative authority.

CONDEMNATION - In real property law, the process by which property of a private owner is taken for public use, with just compensation to the owner. Condemnation occurs under the right of eminent domain.

CONDITION SUBSEQUENT - A condition which, if it occurs, will defeat an existing estate in real estate or terminate an existing obligation.

CONDITIONAL COMMITMENT - A commitment for a loan subject to one or more conditions.

CONDITIONAL SALE CONTRACT - A contract whereby the owner retains title to the property until the purchaser has met all of the terms and conditions of the contract.

CONDOMINIUM - Fee ownership of a unit in multi-unit building with joint ownership of common areas.

CONSIDERATION - An act or forbearance, or the promise thereof, which is offered by one party to induce another to enter into a contract; that which is given in exchange for something from another. Consideration is usually something of value, such as the purchase price in money, though it may be personal services or exchanged property. It is the price bargained for and paid for a promise. Thus, the mere promise to pay money is sufficient consideration and an earnest money deposit is not necessary for purposes of creating a binding contract. Even though the sales price is stated in the contract for real property, the actual consideration supports the contract is the mutual exchange of promises by buyer and seller to legally obligate themselves to do something they were not before legally required to do.

CONSTRUCTIVE EVICTION - Breach of a covenant of warranty or quiet enjoyment; for example, the inability of a purchaser or lessee to obtain possession by reason of a paramount outstanding title. An act by the landlord which deprives the tenant of the beneficial use and occupancy of the premises devised.

CONSTRUCTIVE NOTICE - Often called legal notice, the conclusive presumption that all persons have knowledge of the contents of a recorded instrument.

CONTAMINATION - Presence of unexploded conventional ordnance, or of biological, radioactive, toxic chemical, or hazardous substances (defined in comprehensive Environmental Response Compensation and Liability Act of 1980) at levels that present a public hazard or exceed applicable standards.

CONTINUING RESOLUTION - Congressional legislation providing budget authority for Federal agencies and/or activities to continue operating until regular appropriations are enacted. This usually occurs when Congress has not enacted all appropriation bills before a new fiscal year begins.

CONTOUR LINE - A line connecting all points of the same elevation on a part of the earth's surface, represented by a continuous line on a topographic map.

CONTRACT - An agreement, either oral or written to do or not to do certain things. In real estate, there are many different types of contracts, including listings, contracts of sale, options, mortgages, assignments, leases, deeds, escrow agreements, and loan commitments, among others.

CONTRACT RENT - Payment for use of property, as specified in a lease.

CONVENTIONAL MORTGAGE - A mortgage on real estate securing a loan made by a private investor, not guaranteed by a Government agency such as FHA or VA.

CONVEYANCE - The transfer of title to real property by means of a written instrument, such as a deed.

COOPERATIVE - Multi-unit building owned by a corporation, each owner holding stock equal to the value of his apartment. Title is proprietary lease.

COST OF REPRODUCTION - The normal cost of exact duplication of a property with the same or closely similar materials as of a certain date or period.

COURSES AND DISTANCES - A method of describing or locating real property; this description gives a starting point and the direction and lengths of lines to be run; practically indistinguishable from a metes and bounds description.

COVENANT - A written agreement in a deed which pledges that either party will perform or abstain from specified acts on a certain property, or which specifies or forbids certain uses of the property.

CURTESY - The common law life estate of a husband to land his wife possessed in fee at her death. This interest has been abrogated as modified by statute in many states.

DEBT SERVICE - Periodic payment on a debt, for interest on and retirement of the principal.

DECLARATION OF TAKING - Part of a condemnation package; a document stating the need for the property, describing the property, and stating that the property is being taken by eminent domain. Filing the declaration in court, with the deposit of estimated compensation, transfers title to the condemner.

DEDICATION - The application of privately-owned land to the public for no consideration, with the intent that the land will be accepted and used for public purposes. A landowner may dedicate the entire fee simple interest, or an easement such as a public right-of-way across his property. Lands thus dedicated are normally taxed at a preferential rate.

DEED - A legal instrument in writing, duly executed, sealed, and delivered, whereby the owner of real property (grantor) conveys to another (grantee) some right, title, or interest in real estate.

DEED RESTRICTION - A provision in a deed controlling or limiting the use of the land.

DEFAULT - Failure to perform a specific, required legal duty.

DEFERRED MAINTENANCE - Existing but unfulfilled requirements for repairs and rehabilitation, deferred until a later date.

DEFICIENCY JUDGMENT - At a foreclosure sale, the difference between the indebtedness sued upon and the sale price or market value of the real estate. See also DEFICIENCY PAYMENT.

DEFICIENCY PAYMENT - Additional compensation required in a final judgment in condemnation proceedings. See also DEFICIENCY JUDGMENT.

DEPRECIATION - (1) A lowering of value. A reduction; lessening. The decline in value of property. Loss in market value. Deterioration over a period of time. The opposite of appreciation. (2) In appraising, depreciation is the reduction on value of a property as measured from the cost to replace it. It is the difference between the replacement cost and the market value. (3) In accounting, it is a write-off (usually annually) of a portion of an asset on the records.

DESCENT - Succession to ownership of an estate by inheritance. Title by which one person, upon death of another, acquires real estate of the latter as an heir at law. The person who inherits is controlled by state statutes.

DESIGN MEMORANDUM - A planning document prepared by the division/District Commander before any land may be acquired for a project.

DETERIORATION - Impairment of condition. One of the causes of depreciation and reflecting the loss in value brought about by wear and tear, disintegration, use in service, and the action of the elements.

DEVISE - A transfer of real property under a will. The donor is the devisor and the recipient is the devisee. Where there is no will, the real property "descends" to the heirs.

DISCOUNT - (1) That which can be taken off the established amount. Mortgages, for example, are frequently discounted when paid in advance of maturity. (2) A sum paid to obtain certain preferred mortgages, as the payment of points to a lending institution for FHA and VA mortgages.

DISPOSAL - An authorized method of permanently divesting the Government of control and responsibility for real and personal property. Sale of Government-owned property.

DISPOSSESS - To deprive a person of possession and/or use of real property.

DOWER - A common law estate in land given to the wife in her husband's real property upon his death, consisting of a life estate in one-third of all the real estate owned by the husband during the marriage.

DURESS - Forcing action or inaction against a person's will.

EASEMENT APPURTENANT - An easement which is attached to, accompanies, and passes with a greater interest; it has no existence apart from the superior interest. Also called PERTAINING EASEMENT.

EARNEST MONEY - The cash deposit made by a purchaser of real estate as evidence of good faith.

ECONOMIC LIFE - The period over which a property will yield a return on the investment, over and above the economic or ground rent due to land.

ECONOMIC OBSOLESCENCE - Impairment of desirability or useful life arising from economic forces, such as changes in optimum land use, a legislative enactment which restrict or impair property rights, and changes in supply-demand relationships.

EFFECTIVE AGE - Age in years, indicated by the condition and utility of a structure.

EJECTMENT - A form of action to regain possession of real property, with damages for the unlawful retention.

ELEVATION - Surveying: The distance above or below a datum. Architecture: A sketch of the front or side of a building.

EMBLEMENTS - Growing crops (called "fructus industriales") which are produced annually through labor and industry. Emblements are regarded as personal property even prior to harvest; thus, a tenant has the right to take the annual crop, even if the harvest does not occur until after his tenancy has ended. A landlord cannot lease his land to a tenant farmer and then terminate the lease without giving the tenant the right to re-enter to harvest his crops.

EMINENT DOMAIN - The right of the government, both state and federal, to take private property for a necessary public use, with just compensation paid to the owner. Through eminent domain, the state may acquire land (either fee, leasehold, or easement) for streets, parks, public buildings, public rights-of-way, and the like. The state may delegate the power of eminent domain to local governments and to public corporations and associations such as school districts. No private property is exempt from this exercise of government power.

ENCROACHMENT - Trespass; the building of a structure or any improvements partly or wholly intruding upon the property of another.

ENCUMBRANCE - Any claim, lien, charge or liability attached to and binding upon real property which may lessen the value of the property but will not necessarily prevent transfer of title. There are two general classifications of encumbrances: (1) those that affect the title, such as judgments, mortgages, mechanic's liens and other liens which are charges on property used to secure a debt or obligation; and (2) those that affect the physical condition of the property such as restrictions, encroachments, and easements.

ENDANGERED SPECIES - Plants and animals which are in danger of extinction throughout a significant portion of their ranges, as listed by U.S. Department of Interior.

ENGINEERING FEASIBILITY STUDY - Evaluation of a proposed construction at a particular site, to determine whether the proposed project is economically, structurally, and environmentally feasible.

ENVIRONMENTAL ASSESSMENT - A written evaluation, made early in the planning process, of the potential environmental impact of a proposed action.

ENVIRONMENTAL IMPACT ASSESSMENT - Analysis of a proposed action; the basis for deciding whether the proposed action will have a significant impact on the environment.

ENVIRONMENTAL IMPACT STATEMENT - A detailed, full-disclosure report pursuant to National Environmental Policy Act of 1969 (NEPA). An EIS identifies and analyzes the anticipated environmental impact of a proposed action, discusses how adverse effects will be mitigated.

EQUITY - In real estate, the interest or value of the real estate over and above the amount of the indebtedness thereon.

EQUITY OF REDEMPTION - Also known as Statutory Redemption or Redemption. The right of the mortgagor, before a foreclosure sale, to reclaim property which has been forfeited due to mortgage default. The mortgagor can redeem the property by paying the full debt, plus interest and cost. Takes place in Title Theory states.

EROSION - Wearing away land through processes of nature, for example by streams and wind.

ESCALATION CLAUSE - A clause in a lease which causes a rent increase, contingent on a specific action.

ESCHEAT - The reverting of property to the state by reason of failure of person legally entitled to hold or when heirs capable of inheriting are lacking.

ESCROW - In real estate, it is the state or condition of a deed which is conditionally held by a third party, called the escrow agent, pending the performance or fulfillment of some act or condition.

ESCROW AGREEMENT - A written agreement between two or more parties whereby the grantor, promisor or obligor, delivers certain instruments or property into the hands of a third party, the escrow agent, to be held by said third party until the happening of a contingency or performance of a condition, and then to be delivered to the grantee, promisee, or obligee.

ESTATE - In real estate it refers to the degree, quantity, nature, and extent of interest which a person has in real property, such as a fee simple absolute estate, an estate for years.

ESTATE AT SUFFERANCE - An estate in land arising when the tenant wrongfully holds over after the expiration of his term; the landlord has the choice of evicting the tenant as a trespasser or accepting such tenant for a similar term and under the conditions of the tenant's previous holding; often called a tenancy at sufferance.

ESTATE FOR LIFE - A freehold estate, not of inheritance, but which is held by the tenant for his own life or the life or lives of one or more other persons, or for an indefinite period that may extend for the life or lives of persons in being, and beyond the period of life.

ESTATE FOR YEARS - An interest in land for a fixed period of time, from one day upwards; often called a tenancy for years.

ESTATE FROM PERIOD TO PERIOD - An interest in land where there is no definite termination date but the rental period is fixed at a certain sum per week, month or year; often called tenancy from year to year.

ESTATE IN REVERSION - The residue of an estate left in the grantor to commence in possession after the termination of some particular estate.

ESTOPPEL - A legal doctrine which prevents one from asserting rights that are inconsistent with a previous position or representation.

ESTOVERS - Wood which a tenant is allowed to take from the landlord's premises for the necessary fuel, implements, repairs, etc., of himself and his (resident) servants.

ET AL. - Abbreviation for et alii, Latin meaning and others.

ET UX. - Abbreviation for et uxor, meaning and wife.

ET VIR - Latin meaning and husband.

EVICTION - Dispossession by process of law; the act of depriving a person of the possession of lands he has held pursuant to a judgment of the court.

EXCESS - Designates real property which is no longer required by the Federal agency accountable for it.

EXCESSING - The process of determining that real estate is not needed by the Army; reporting excess property to the disposal agency for disposal.

EXCHANGE - Disposal of any real interest by exchanging it for another real interest of equal value instead of cash.

EXCLUSIVE LEGISLATIVE JURISDICTION - Jurisdiction under which the Federal Government holds all the authority of a state legislate over a particular area, except authority to serve process in cases arising from occurrences outside of the area.

EXECUTOR - An individual or institution designated in a will and appointed by a court to settle the estate of the testator.

EXPERT WITNESS - Persons with particular knowledge or skill which enables them to give an opinion on the facts in dispute.

FEE - When applied to property, an inheritable estate in land.

FEE SIMPLE - The most comprehensive ownership of real property known to law; the largest bundle of ownership rights possible in real estate. Fee simple title is sometimes referred to as "the fee".

FEE TAIL - An estate or interest in land which cannot be conveyed but which must descend to the heirs of the holder; abolished in most states.

FIRST MORTGAGE - The mortgage on property that is superior in right to any other mortgage.

FIXTURE - A chattel which is affixed to and becomes a part of real property.

FORECLOSURE - Procedure whereby property pledged as security for a debt is sold to pay the debt in event of default in payments or terms.

FOREIGN EXCESS REAL ESTATE - Excess real property located outside the U.S., Puerto Rico, American Samoa, Guam, the Trust Territory of Pacific Islands, or Virgin Islands. May not include timber or installed equipment. Check regulations for definition of real estate at each location: Japan - USARJ 405-1; Korea - USFK 405-7; Europe - USAREUR 405-8.

FORFEIT - Loss of money, property, or the right to property by failure to act or by negligent or improper action. Property lost is called a forfeiture.

FRAUD - The intentional perversion of truth to deceive another person, whereby that person acts upon it to his legal injury.

FREEHOLD - An estate in fee simple or for life.

FRONT FOOT - One foot along the street frontage of a property.

FUNCTIONAL OBSOLESCENCE - A loss in value of an improvement due to functional inadequacies, often caused by age or poor design. For example, functional obsolescence may be attributable to such things as outmoded plumbing or fixtures, inadequate closet space, poor floor plan, excessively high ceilings or antiquated architecture. Thus a warehouse with nine foot ceilings would probably suffer a loss in value because a modern forklift could not operate in such a small space.