by Ethan Atkinson | Jan 20, 2026 | A-E, PropertyPedia, Real Estate
A bill of sale is a legal document that records the transfer of ownership of personal property (not real estate) from a seller to a buyer. It shows that the seller has given the item to the buyer in exchange for payment or another agreed-upon value. Remember that...
by Ethan Atkinson | Jan 20, 2026 | A-E, PropertyPedia, Real Estate
A beneficiary usually refers to a party who is entitled to the benefit of a trust. That is, if one party puts property into a trust to be held for someone else, that “someone else” is the beneficiary of the trust. Note that when a trust deed is used in...
by Ethan Atkinson | Jan 20, 2026 | A-E, PropertyPedia, Real Estate
A wall or partition that supports a part of a building, usually a roof or floor above. It is a wall that bears a significant load, rather than a wall that is simply a divider between rooms.
by Ethan Atkinson | Jan 20, 2026 | A-E, PropertyPedia, Real Estate
Cost basis is the dollar amount assigned to property at the time it is purchased under the Internal Revenue Code’s guidelines. This dollar amount is the basis for determining the owner’s gain or loss when they sell the property. It is also used to...
by Ethan Atkinson | Jan 20, 2026 | A-E, PropertyPedia, Real Estate
Imaginary lines used by surveyors to find and describe the location of private or public lands. In government surveys, a baseline runs due east and west, meridians run due north and south, and are used to establish township boundaries.
