by Ethan Atkinson | May 18, 2026 | A-E, PropertyPedia
Express authority is the specific authority that a principal intentionally grants to an agent, either orally or in writing, allowing the agent to act on the principal’s behalf in designated matters. In real estate, express authority is most commonly created through...
by Ethan Atkinson | May 18, 2026 | A-E, PropertyPedia
An easement in gross is a type of easement that grants a person or entity the legal right to use another person’s land for a specific purpose, but does not benefit any adjoining parcel of property. Unlike an appurtenant easement, which is tied to neighboring land and...
by Ethan Atkinson | May 18, 2026 | A-E, PropertyPedia
An encumbrance is any claim, restriction, lien, or legal interest held by someone other than the property owner that affects the title to real property or limits the owner’s use of the property. Encumbrances may reduce the property’s value, restrict transferability,...
by Ethan Atkinson | May 18, 2026 | A-E, PropertyPedia
Conformity is a principle of real estate appraisal which holds that property values are generally maximized when properties within a neighborhood or market area are similar in style, size, age, quality, and use. The principle is based on the idea that consistency...
by Ethan Atkinson | May 18, 2026 | P-T, PropertyPedia
Probate is the legal process through which a deceased person’s estate is administered and distributed under the supervision of a court. The process is used to validate a will, identify and inventory the decedent’s assets, pay outstanding debts and taxes, and transfer...
