Shared Appreciation

In real estate finance, shared appreciation refers to an arrangement in which someone other than the buyer participates in the equity growth of a property. Under this type of agreement, the parties share certain expenses and also share in any increase in the...

Severalty

In real estate law, severalty refers to an estate or ownership interest in property held by one person alone. It denotes sole ownership, without any co owners or shared interests. Remember that it is misleading that severalty has the word “several” in it,...

Settlement Statement

In real estate transactions, a settlement statement is a document that provides a detailed accounting of all costs and financial adjustments involved in a property sale. It itemizes credits, debits, fees, and charges associated with the transaction. Settlement...

Set Back Ordinance

In real estate and land use regulation, a set back ordinance is a provision of a zoning ordinance that controls how far a structure must be located from a property’s lot lines. It establishes minimum required distances between improvements and the boundaries of a...

Servicing Loans

In real estate finance, servicing loans refers to the ongoing supervision and administration of a loan after it has been originated. These activities ensure that the loan remains in good standing and that all contractual obligations are properly managed. Loan...

Separate Property

In real estate and marital property law, separate property refers to property owned by a married person individually and not as part of the community estate. This property belongs solely to one spouse and is not subject to division as community property. Separate...