Your Legal Terms, Simplified

Abstract of Title

A summary of a property’s ownership history, showing past transfers, liens, and claims.

Addendum

An extra document added to a contract that outlines additional terms or conditions.

Appraisal

An expert estimate of a property’s value, often used in sales or financing.

Assignment

The transfer of rights or property from one party to another.

Boundary Dispute

A disagreement over where one property ends and another begins; we help resolve these through legal action or negotiation.

Business Formation

The legal process of setting up a new business, including LLCs, corporations, or partnerships.

Broker

A licensed professional who acts as an intermediary between buyers and sellers in real estate transactions.

Building Code

Local regulations specifying standards for construction and safety.

Closing

The final step in a real estate deal when documents are signed and ownership transfers.

Commercial Real Estate

Properties used for business activities — from offices to retail to warehouses — requiring specialized legal guidance.

Contingency

A condition in a contract that must be met for the deal to proceed (like inspections or financing).

Closing Costs

Fees and expenses paid at the closing of a real estate transaction, including taxes, insurance, and agent commissions.

Counteroffer

A response to an offer that modifies the original terms.

Deed

The legal document that transfers property ownership; we draft, review, and record deeds for all property types.

Development Agreements

Contracts between developers and local governments laying out responsibilities for land use, zoning, and infrastructure.

Disclosure

Information a seller is legally required to provide about a property’s condition or history.

Dual Agency

When a real estate agent represents both buyer and seller in a transaction.

Due Diligence

The investigation or audit of a potential investment or product to confirm facts and evaluate risks.

Easement

A legal right to use part of someone else’s property (like for utilities or access).

Estate Planning

The legal process of arranging how assets will be managed or passed on after death includes wills, trusts, and powers of attorney.

Encumbrance

A claim, lien, or liability attached to a property that may affect its transfer or use.

FSBO (For Sale By Owner)

When a homeowner sells their property without a real estate agent; legal backup helps draft contracts, handle disclosures, and manage closing paperwork.

Foreclosure

A legal process where a lender takes ownership of a property due to unpaid mortgage debts.

Fixtures

Items attached to a property that are considered part of the real estate.

Grantee

The person who receives ownership rights through a deed.

Grantor

The person who transfers ownership rights through a deed.

Homeowners Association (HOA)

An organization in a subdivision or planned community that enforces rules and collects fees for common areas.

Inspection Contingency

A clause allowing a buyer to back out or renegotiate based on the results of a property inspection.

Investment Property

Real estate purchased to generate income or profit.

Interest

A legal share in property ownership, which can be full or partial.

Joint Tenancy

A form of property ownership where two or more people hold equal shares with rights of survivorship.

Lease Agreement

A contract between a landlord and tenant outlining terms of property rental.

Lien

A legal claim against a property for unpaid debts or obligations.

Lienholder

A person or entity holding a lien against a property.

Loan Documents

Contracts and agreements related to financing real estate.

Multi-Family Property

Residential buildings with multiple units (like duplexes or apartment complexes).

Mortgage Review

A legal check of mortgage agreements to ensure fair terms and compliance.

Market Value

The price a property would likely sell for in a competitive and open market.

Notary Public

An official authorized to witness the signing of documents and administer oaths.

Owner’s Title Insurance

Insurance protecting buyers against past ownership claims or title defects.

Owner’s Policy

Another term for owner’s title insurance.

Power of Attorney

A legal document allowing someone to act on your behalf in property or business matters.

Purchase Agreement

The contract detailing the terms and conditions of a real estate sale.

Power of Sale

A clause in a mortgage that allows the lender to sell the property if the borrower defaults.

Quiet Title Action

A lawsuit filed to establish ownership of real property and resolve disputes.

Residential Real Estate

Homes, condos, or vacant lots purchased for personal use.

Refinancing

Replacing an existing mortgage with a new one.

Right of First Refusal

A contractual right that gives a party the option to enter a business transaction before others.

Survey

A precise map showing a property’s boundaries and features.

Special Purpose Deeds

Deeds used in unique situations, like executor’s deeds or trustee’s deeds.

Subordination Agreement

A document that changes the priority of liens on a property.

Title Search

An investigation into the property’s ownership history to uncover liens, claims, or defects.

Title Insurance

A policy that protects against undiscovered title issues.

Tenancy in Common

A form of co-ownership where each party owns an individual share without rights of survivorship.

Transfer Tax

A tax imposed on the transfer of property title from one person to another.

Trusts

Estate planning tools that hold assets on behalf of beneficiari

Unencumbered Property

Property that is free of liens, claims, or other legal burdens.

Vacant Land

Land without any buildings or improvements.

Warranty Deed

A deed guaranteeing clear title to the buyer and the seller’s promise to defend against claims.

Zoning Compliance

Ensuring that property use aligns with local zoning laws.

Zoning Variance

A special permission to deviate from zoning regulations.