Title insurance a form of insurance obtained from a

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title insurance A form of insurance obtained from a title insurer who agrees to reimburse the insured for losses caused by undiscovered defects in title. If an owner of real property fails to pay property taxes, the government can obtain a lien on the property for the amount of the taxes. If the taxes remain unpaid for a statutory period of time, the government can sell the property at a tax sale to satisfy the lien. Any excess proceeds are paid to the taxpayer. The buyer receives title to the property. Many states provide a period of redemption after a tax sale during which the taxpayer can redeem the property by paying the unpaid taxes and penalties. In these states, the buyer at a tax sale does not receive title to the property until the period of redemption has passed. Ownership of real property can be transferred by gif . The gift is made when the deed to the property is delivered by the donor to the donee or to a third party to hold for the donee. No consideration is necessary. Real property can also be transferred by will, trust, or inheritance . adverse possession A situation in which a person who wrongfully possesses someone else’s real property obtains title to that property if certain statutory requirements are met. nonpossessory interest A situation in which a person holds an interest in another person’s property without actually owning any part of the property. easement A given or required right to make limited use of someone else’s land without owning or leasing it.
easement appurtenant A situation created when the owner of one piece of land is given an easement over an adjacent piece of land. servient estate The land over which an easement is granted. dominant estate The land that benefits from an easement. easement in gross An easement that authorizes a person who does not own adjacent land to use another’s land. express easements Easements that are expressly created by words. These include (1) easements by grant and (2) easements by reservation. implied easements Easements that are implied from the circumstances. These include (1) easements by implication and (2) easements by necessity. easement by prescription An easement that is created by adverse possession. license A document that grants a person the right to enter on another’s property for a specified and usually short period of time. profit-à-prendre (profit) A document that grants a person the right to remove something from another’s real property. zoning ordinances Local laws that are adopted by municipalities and local governments to regulate land use within their boundaries. variance An exception that permits a type of building or use in an area that would not otherwise be allowed by a zoning ordinance. nonconforming uses Uses for real estate and buildings that already exist in a zoned area that are permitted to continue even though they do not fit within a new zoning use established for the area.

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