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A legal agreement by which a bank or other creditor lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt.

A right to cross or otherwise use someone else's land for a specified purpose.

A claim, lien, charge, or liability attached to and binding real property which may lessen its value or obstruct the use of the property.

A form of concurrent ownership where each owner possesses a fractional share of the entire property and has a right to transfer their share independently.

A legal arrangement in which two or more people own a property together, each with equal rights and obligations, until one dies; then, the property passes to the surviving owner(s) without a need for probate.

A legal instrument that is used to transfer interest in real property. The grantor terminates their right and claim to the property, thereby allowing the right or claim to transfer to the grantee.

A deed that transfers property to a trustee as security for the repayment of a debt.

A legal doctrine that allows a person to claim a property right in land owned by another. Specific requirements must be met, such as open and notorious possession, for a specific period of time.

The legal process by which an owner's right to a property is terminated, usually due to default. It typically involves a forced sale of the property at auction, with the proceeds used to pay off the mortgage debt.

A planning control tool for regulating the uses of land and buildings, their height, density, and design to ensure they are integrated into communities in a functional way.

A written agreement or promise between two or more parties where specific actions are either required or restricted. In real estate, it usually refers to conditions placed by developers on a group of homes or parcels of land.

A legal right or interest that a creditor has in another's property, lasting usually until the debt that it secures is satisfied.

A beneficial interest in property, which gives the holder the right to acquire formal legal title. It arises when the owner of the property agrees to sell it and a contract is drawn up.

A lawsuit filed to establish ownership of real estate when ownership is in question. It removes a cloud on the title.

The different rights of the property owner, including the right to possess, to use, to exclude, to encumber, and to dispose of the property.

A federal act aiming to prevent discrimination when renting or buying a home, getting a mortgage, seeking housing assistance, or engaging in other housing-related activities.

A federal law that helps protect consumers by providing them with disclosures regarding the nature and costs of the real estate settlement process, and to reduce the costs of closing by eliminating kickbacks and referral fees.

Insurance that protects the holder from financial loss sustained from defects in a title to a property and from the invalidity or unenforceability of mortgage loans.

A tax on the profit from the sale of property or of an investment.