Participation Mortgage

In real estate finance, a participation mortgage is a financing arrangement in which the lender receives not only interest on the loan but also a share of the project’s gross sales or profits. This structure allows the lender to participate directly in the financial...

Partial Release

In real estate finance, a partial release is the release of a portion of property that is subject to a mortgage or deed of trust. It allows a specified part of the secured property to be removed from the lender’s lien while the remaining property continues to secure...

Package Mortgage

In real estate finance, a package mortgage is a type of mortgage that secures not only the real property but also the improvements and certain movable equipment or appliances associated with the property. This allows both real and personal property to be included as...

Ownership

In real estate law, ownership refers to the rights of one or more persons to possess, use, and control property to the exclusion of others. It represents a legal relationship between a person and property that is recognized and protected by law. Ownership is often...

Ostensible Authority

In real estate and agency law, ostensible authority refers to the authority that a third party reasonably believes an agent possesses based on the actions or omissions of the principal. It arises when the principal’s conduct creates the appearance that the agent is...

Orientation

In real estate and site planning, orientation refers to the placement of a structure on a lot in relation to environmental and surrounding factors. This includes consideration of exposure to the sun’s rays, prevailing winds, street frontage, and nearby sources of...