Real Estate Dictionary Historic 1924

8/14/2019 Real Estate Dictionary Historic 1924

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348 The Realty Blue Ilook of Califoynia

Dictionaryol Rc.al lstate ermsE./.\cl. o)t tfu CieiL Cr'tLcol Califotniu (C. C.) e1d. ttlcCod.e f Ci.t:iIProreturle Califoi.nin (C- C. P.) tLlLdhe Prcifi?I^tt: Eltc!(lnpelirL (P. L. Enc.)

ABATEN{IINT (of a nLrisnncc)-The ferlovat, pr.ostr.aUon l destr.uctjon o{ that \rhich causes a nuisance. Catifor.nia Red Light Abate-ment Act-Every building or place used {or thc pur.poscof lcr!dness,assignation or prostitution is a nuisaDce$.hich shall be abated. Theact provides for the seizure ol furnitule found on th pr.emisesandclosjngof the building for oneyear.ABEYANCE The condition of a lreehold \Lhrc thre is no personi r b " ng i ' who r 1 : rp : s v . s - ,dABIIT To leach, to touch.ABUTTALS-Thc abutting ol' boundal'ics of lands, sho\\'ins to r.hatother iands, highw:rys or.places they belong of are abuttnlg. {P. 1,.Enc.)ABSTRACT OF TITLE A brief account of all the deeds upon \rhichthe title rests.ACCESS Approad, or the neans or porl'el ol appfoachjng.ACORETION-The incre.rseof real state by the addjtior oj portionsof soil. by gradual deposition through the opention oI natural eauses.AOCRUE-To grolr; to be added to.ACI{NOWLEDGI'MNT-A certificatc of the Droper ofiicel that themaker oI a vritten irNtrumcDt has appearedbefore him irnd declaredit to be his willful act ar)d deed. Most irstrunrenls must be acknorl-edged before they can be recolded.ACIRE A quantitr of land coDt.linins 160 square rods; irL rvhatevershape.ACT (oi God) Arr rccident $hich ariss from a cause .hich operatswithout intederence or aid frcm man. (Legislative) the completelb_-r-rnallyeclared will of the legislature, duly signed bv the executiveofficer of the state.ADJACENT Near.ADMINISTRATION (o{ estates) The managenent of the estate ofan intestate, or of a testator 1vhohas no excutor.


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The Real,taBtrueBook al Cali.fomio, 349ADMINISTRATOR (ftix, fem.)-A person named by the court iotakecharg of the goodsand estate of one dying without a will.AIVERSE POSSESSION-The enjoyment of land under such cir-cumstatrc$ as indicate that such enjoyment has been commencedandconiinued uncler an assertion or color of right on the part of thepo$essor. Twenty yearsg:lvesitle against he true owner.)AFFIDAVIT A statement reduced o writing and swom to beforesomeofficerwho has authodty to administeran oath.AGENCY-A relation between wo or more parties by which onepady is authorized to do certaiD acts for, or in relation to the rightaof prolerty of the other.AG!NII-One who represerts, acts for, oi in belalf of another, wlois caled his "principal."AGENT'SAGREEMENT TO SELL REAI ESTATE-For compensa-tion or commissionmust b in wdting (Sec.1624C. C.)AGREEMENT FOR,LEASING-For longerperiod han oneyear,orfor tlle sale of real propelty, or of an interest therein, must b in$,aitingandsubscribed ythepartyto bd charged. (C.C.Sec. 1624).AGREEMENT OF SALE-(See contract).AGREEMENT TO SELL REAL PROPERTY-BindS the seller toexecute a coDveyancen form sufficient to pass title to the property.(C.C. Sec. 731).AIIEN LAND LAW--{al. Sta. 1g21-Pr.ohibits owning or leasingof landsby certain classes f aliens. (Individualscannotenforceart-Power rests in state alone.)ALIENATION (o{ estates)-The transier of property from oneper-son to another.AITERATION-A change in the terms of a contract made by theagr.eementf the partiesthereto.AMORTIZATION-The clearing off or othenrise extinguishing adebt, usuallyby a sinling fund.ANCILLA-RY-Auxiliary; usedof deedsaken out in the place$rherethe property s situatd,which is subordinateo the placeof principaladministration-ANNEXATION-The unionof one hing to another.APARTMENT-Dwelling (denoting entire building, while "flat''meansonly the separateesidentialpor"tionsnside he building.)APPENDANT-Annexed or belonging o somethingsupedor.APPRAISER-One eeho s ramed by an individual or appointed bylaw to estimate valus.APPRAISED VALUD-The value set upon a property by anappraiser.


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350 The Realt ! Blue Book of CatifonnAPPURTENANCES-ThingSby righl Ised wiih lhe land for i tsOeneDt,s,rn, lhe rsPol a $a). or walerroursp.r passageof l ightor air. (C. C. Sec- 62).APPIJI TENANT-Pertaining or belonging o.AREA-AD openspaceadjoining to a hous.ARI D-Exhaustedof moi.ture.ARID LANDS-Lands where rainfalt is insufficient or asriculturalpurposes, rd irrigation therefore s necessary.A^SSESSMENTDete-r-rn;ninghF valupof a prope y for thc purTospoI rpvylng trx, A torm oI la),esevied n specif ic ealDrooertvotakpcareof strcel,qewpr,sidA$alk ndothcr ocal mprovem.nrs'.ASSETS .Everyfhing f an) suppospdalue, u.h as pfoperty, ealestate,cash,debtsreceivable. tcASSIGN-To transfer in lvriting any righi or iDterest.ATTACHMENT-A writ issued r rbe nstituiion r drr ine rhe Drogressol .an action.ummrnding he ourr o{I icFr o a,rach-rh"piop*eny ot thtsdplFndanlo satisfy he dcmands f rh" nta:It i"f .ATTORNEY IN FACT-One who acts under authority conferredbya powerof attorney.AUCTION-A public saleof property to the highestbidder.AVATTABLE ASSETS-hoperty which can be hral for srle or us-,ano wnrch s notalready iven br "ecurilvol rI indFbreduess_BARGATN ND SALE-A contracr y jhe ownerof tand, ^r I run_srdelrLrolto spl l1() nothef.whereupon uscarisenl iavot.ol theBENEFIaIAL INTEREST-prof l , benefiror advantase esulr inclrom contrrcLs r orvnersh:pl rn aqtaie s diqringuishe-drom l.gr ' iBETTEBMENTS-hnprovements made o an estate.BILL OF SALE-A x'ritten agreementransferdng ti e to personalproperty.BLANKET MORTGAGE-A modgagccovpring everat roparljFsandgiven o secure sjngledebt.BONA FIDE-cood faith; honesty..tsOND-An obligation n writing underseal.BOND, BROKERS-Sea Sec.9A, State neat Estate Dept. Act.BOND ON APPEAI-See Sec.12,State RatEstate Dept.Act.BOND FOR A DEED-An instrumentwhich the sellerof lanclsivesto the purchaser,and which binds the former to convey re-tideuponreceiptof the price agaeed pon.BONDSMAN-A surety on a bond.


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The Real,tuBha Book al California 351BONUS-Somethins given n addition to what is ordinsrily received.BOOM-A strong, apidexpanding ovement.BOUNDARY-Any separation, atural or artificial, which marks theconfines r l ine of two contiguous states.BREACH OF COVENANT-A violation of or failure to Derform heconditionsof a bondor covenani,BROKER-One who is engaged or othrs n the negotiationof con-tracts relative to property,with custodyof which they have no con-tsUILDING-An edifrce, rectedby art and fixed upon he soil, com-posedof stone.brick, wood,etc.,connectedogether and designed oruse n the position n which it is so fixed.BUSINESSSECTION-ThaI part ol a commuDitywhich is mainlyand chiefly devoted o busi4ess urposes r usesand in which stores,factories,offices,shopsand the like predominate.BY-LAWS-Rules and ordinancesmade by an organization or itsown government.OAUSE OF ACTION-Matter for which an action may be brouglt.CAVEAT EMPTOR-(LeI the purchaserale care) In everysaleofreal propedy a purchaser's ight to relief on accountof defectsor in-cunbrancesdepnds olelyupon he covenantsor title which he hasreceivdCERTIFICATE OF DEPOSIT-A written acknowledgmnt ivenbya bank that it has received rom the Dersonnameda stated sum ofmonei. (The courts of Califomia declarea certificate of deposit obe :L negotjable nstrument and in efrect the same as a promissorynote.)CERTIFICATE OF TITLE-An instrumentwhich purports o guar-antee that the records in the office of the recordel of a given countysho$' the title to the propertt' described o be as set out in suchinstrument.CERTIFIED CHECX-A check acrosswlich somecompetentbankofficer- as written, overhis sigrature, satisfactoryevidencehat thedrawer has sufficient unds on deposit or paymentwhen presented.OESTUI QUE TRUST-He who hes a right to and beneficial inter-est in an estate he legal titl to which is vested n another.CESTUI QUE USE-He for whosebenefit and is held bv enothrCHARTER-A governmert or state grant of certain powers andprivileges o a companyat the time of its jnco4rration.CHATTEL MORTGAGE-A motgage on chattels.


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352 TILqReaItA Bl e Book of C&LiforniaCHA'mF,TrS-Movable oodsoi alt kinds; tivestock, ousehotalurni-ture, and Dropedyother-han r.eal.CHOSE IN ACTION-A ght to receiveor recover.but one rvhichcannot be enforcedwithout legal actiox.CLAIM-The possessionf a setUei upon public lands of the U. S.;the lands which suchpossessoroldsposseisioDf (p. L. Enc.)CLEAR-To free from encumbrance.CLOSEDMORTGAGE-A mofigageunder which no more indebted-nesscan be tncurred.CODICIL-Some rddii ior ro or qualif icalj^n f a tast $. i andteslamentr-COLLATERAI-ThaI rvhich s added o or beyonda thing; securitylbr the periormanceof agreements r the paymentof mo;ey.COLLATERAL LOAN-A promisc Lo pay on dpmand or within ayearot lesc ime,on which he mckprhrs depositedecurit ips hir.h,in case he not s not paid, nay be sold o saiisty the debt.COLONIZE-To gather,settle or establish l1a compactsetflement.COMMEIICIALPAPER-A general erm used o covermanykinats fnotes,acceptancs,ills of exchanae. tc.COMMISSION-A sum allowed (usually a certain percentage ponthe value of the property involved)as compensatiol o an alent _forservicesperforaled.COMMUNITY PROPERTY-All properry. Fat ard pcrsonaj, c-quiredby eilher husband r wile subsequpnlo marrirge,olher rhanby gift, deviseor descent.COMPROMISE-An agreement eaehedas a settlement of mattersln orspu@,CONDEMNATION-The processby which properly of a privateparty is taken for publicusewithout his consent, ut upod he a.wardand pa)'mentof just compensstion, forced sale.CONDITION SUBSEQUENT-A gr.antupon the condition that ifceataiD hings are doneor not done he gr.antorhas a reversionandmay enforce fol feijurp. SeeCo\enanrt.CONFISCATE-To appropriateo the use of the state.CONSIDERATION-The material causewhich movesa contlactineparty to enler nro hp contracl.CONSOLIDATED MORTGAGE BOND-One that is securedbv amortgage n the prt irp propefty ormedby a consolidationl spv;ralsmaller proper.ties.CONTINGENTESTATE OnedFpendingor its effectuponan eventwnrcn may or may not happen.


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The RedltuBl,ueBoolc I Cq,Iifornia 353CONTRACT (real estate)-An agr.eement between two or moreparties, o buy, sell or lease,an estate n real property . Contractsrelating to land require (1) parties capableof contracting; (2) theirconsent; 3) a lawful object; (4) sumcient onsideration.85 Cal.11)CONTRACT, INSTALLMENT-A contract providing for the pay-ment of the purclase price in specifieclparts at certain times; andproviding that if default is made in any of such payments, the con-tmct may be for{eited.CONfiGUOU1S-In actual contact, touching, also, near though notin contact,neighboring,adjoining.CONVEYANCE-Any $ritten instlumnt by which any estate orinterest in real pmperty is created, encumberecl, r disposed of, or byvhich the title to any real property may be afiected, except by will.(C. C. Sec.1215).CORPOREALHEREDITAMENTS-Substantial permanentobjectswhich may be inherited; land.COUNTY-One oI the civil divisions of the state for iudicial andpolitical purposes.COVENANT-An ageement to do or not to do a certein thing.COVENANTS PERSONAL-Enforcible only as between he partiesand not as to the land.COVENAN?S REAL (Sec.1462 C. C.)-Every covenantmadeforthe direct beneft of the property or somepart of it then in existence,runs with the lsnd.CUSTOM-Such a usage as by common consent and unifonn practicehas become he law of the place.DEED-A document n writing transfening the title of real propertyfrom one o another; requisites: (1) must be in wdting; (2) signedby the grantor; (if corporationsealmust be affixed) (3) witne$ed;(4) acknowledged;5) delivered; (6) accepted,DEED, (GRANT)-The ordinary form in Califomia; implying theusual covenants of wafranty.DEED (QUIT CLAIM) A deedby which one merely transfer hisown dghts and interest, whatever thdy may be, and if the iitle isimpedect the one accepting the deed can recover nothing.DEED (TAX)-The conveyanceiven upon he saleof lands for thenon-payment of taxes; the deed whereby the officer of the law unaler-takes to convey the title of the propdetor tD the purchaser at the taxsale.'DEED (WARRANTY)-One guaranteeinghe propedy conveyedobe free from any defectsof title. (Sameas "Crant Deed.").DE FACTO-Actually; in fact.


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354 The Realtu BLueBook ol CaUfornir,DEFAULT-The non-perfor-manceI a duty contractual or other-wise.DEFERRED PAYMENTS-(See Installments).DE JURE Lav,!'fully r by legal tiUe.DELIVERY-The transfer of a deed n such a manneras to depdvethe gr-antor of the fight to recall it at his option. Transfer may beactualo! constructive. (C. C. Sec.3266).DEPONENT-ODe who gives nfomation, on oeth, respectingsomefacts known to him, belorea qualifiedofrcer.DEPRECIATION-A falling of vatue; a rcduction or toss in ex,changevalue especiallywith r-eferenceo the face value.DESCENT-Hereditary succession.DESERT CLAIMS-Claims to land designated y U. S. Land Officeas "desert ands."DESERT LANDS-Public lands that are irrigable, surveyed,un-re6er\ d.unapproprigtpd,on-minpral,on-l imberednd ands ssuchthal wil l not wirhoul arl i f ic ial rr igal ionproduce ny reasonablyremunerativeagricultural crop by usual meansor method of culti-DEVISE-A gift of real property by a person's ast will and testa-ment.DOWER-The interest which a wife or husbandhas in the other.'sreal property, which upon the death of either becomesan estate forlife of the sur/iv_orn one-thir-d f the propertywith .$'hichthe pad].oyrng was sezeo.DURESS-Personal restraint or intimidation.DWELLING-A permanentstructure nhabitedas an abod.EARNEST MoDeypaid by the buyer to the seller o bind the trade.EASEMENT-A right of the owner of oneparcelof land by reasonof suchownership o use he land of another or a specialpuryosenotinconsistentwith the gener.al ropert]' right of the owner.EJECTMENT A folm of action to r.egainpossessionf real prop-EI{BLEMENTS-The right oJ a tenant to take and carry away afterhis tenancy s ended,such annual productsof the land as have re-sulted rom his olvD care and labor.EMINENT DOI'IAIN-The power o take priyate prcperty for publicENCUMBRANCE-Any light or interest n land which subsists n athird person o the diminution of the valueof the estateof the tenantbut consistentlywith the passage f the fee. Encumbr.ancesncludenot only l iens and tax assessments,ut dghts o{ way, building re-strjctions,etc.


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Tke Reoka Elltz BooL af Cd'Afot iaENCBOACH-To gain unlav'4ulty upon the lands or propertv ofanothef,EI\I'IER-To go upon lands for the purpose of taking possession.ENTRY-See Forcible Entry.EQUITABLE MOBTCAGE-A lien on real estate of such a characterthat it is recoglized in equity as security for the payment of money,and is treateal as a mortgege.EQUITY-The value of property over and above ts indebtdn$s. Incase of a mortgage, the value of the prope*y above the dortgage\r'ould be the equity.EQUITY OF REDEMPTION -see Redemption,ESCHEAT-A reversion qf lands to th state by reason of failureol heirs.ESCROW-A grant may be depositedby the grantor with a thirdpersonto be deliveredupon lhe pelformcnceol a condition and ondelivcry by thp depositary t \trill take effect. Wlile in tle possessjonof the third party, and subject to condition, s calledan "escrow."(C. C. Sec. 057).ESTOPPEI-The preclusion rom assertinga fact by previouscon_duct inconsistent therewith.EVICTION-Depriving a personoI possessionf his lands or ten&ments.EXCHANGE-A mutual grant of interests n land, the one n con-sicleration of the other.ExCLUSM-Enjoyed only by the person authorized,while allothe$ are forbidden to intedere.EXPIRATION-Cessation, end.EXTENSION OF MORTGAGE-W1en a mortgage falls due it mavbe extendedupon agreement between the borrower and the lender.FARM-A poltion of land used for agricultural purpose wholly or inpart.FEE SIMPLE-A landed estatebelonging to the owne} and his heirsand assiqnsforever. Every estateof inheritance, wheDnot defeasibleor condilional, s a fee simpleor an absolute ee. (C. C. Sec.762).FEE TAII-See Tail (Estates n).FIDUCIARY-In trust, in confdence.FIXTURES-Pe$onal chattels affxed to real estate which may beresewed and removed by the party who has amxed them against therrill of the ovner of tfie land, (P. L. Enc.).FLAT-See Apartrnent.


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356 The Redta BtrueBook of CalilorniaFORCED SALE-A sale of a debtor'spropedy.whicb the creditorcompels the sale of miodgaged propedy to efiect a foreclosure is aforced sale.FORCIBLE ENTRY-Entering by any kind oJvioleDce ponor intoreal prroperiy, or after peaceful entry, ejecting the party in possessioDby force. (Sec.1159C. C. P.).FORECLOSURE-Enforcing patrment f a debt secured y mortgageby taking and selling the property vrhich is covered.GARNISHMENT-MeIhod of attacl ng property or credits belong-ing to a debtorbut held for or owed o him by another.CENERAL LAND OFFICE-A bureeu of the U. S. Eovernmentwhichhascharge f m^(ers retat ing o public ands.GIFT-A transfer of pe$onal property,madevoluntarily, snd with-out consideration. (C. C. Sec.1146).GOODWILI-Ttre rnaterialvalue of a business s a profit-producingenterpdse,either realizedor prospective.GOODSAND CHATTELS-A term which includesnot only personalprcperty in possession,ut chosesn action and chattels real.GRADE-The percentof grademeansso many fet vertically in onehundred eet horizontal.CRANT-A genedc erm applicableo all transfe$ of real pr.opedy.GROUND RENT-That rent paid for the privilege of building onanother man's and.GROWINGCROPS-Crops raised by clrltivationof man. In certaincases ersonalchattels, n otherspar"tof the realty. (P. L. Enc.).GUARANTEE-An undertaking that the ngagementor promiseof another shall be pefonned.GUARANTY-The printed or written for.m,properly signed, uponan instrumert, whereby someparty, not originally issuing the in-strument, promises its pa}.rnent.GUARDIAN-One legallyentrustedwith the csre of th person,andmanagement f propedy, of a minor, imbecile,or other per.sonn-capable l managinghis affairc.HABENDUM-The clauseusually follorvingthe gmnting part of adeed rhich defineshe extent of the ownership n the thing granted.HOMESTEAD-The dwelling house n which the claimant resides,and the land on which the same s situated, vrhen it has been selectedby the claimant, making and recording a declaration of homesteed.HOMESTEAD CORPORATIONS-Corporationsorganized or thepurpose of acquiring lands in large tracts, paying off incumbrancesthereon, improving and subdividing themr nto homestead ots or par-cels. (C. C. Sec.55?).


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The Realtu BlxreBooh ol C(LlilarntllIIYPOTIIECAI'E-To place on deposit collatclal security as pleds

IMPLIED CON'I'IiACT A cortract. the existcnce and terms of\r'hich ale manifested br condLrct. (C. C. Sec. 1621).IMPROVEX{Iil\r'r' An amelior'ation in the condition of ploper-tyeftected by the experditule of labor or money for. the pur?os of ren-iletins il useful for. other pulposes than those for Nhich it ir.as oris-jnail), used, or more useful for' the sane purpose.INCOME The gain Nhic:h Dloceeds fr.om pr'opert:'. labor, or busi-ness applied palt icularly to jDdividurls-INCORPOItDAi, HT.lI i I . l I l lTA[{ DN'I 'S Anythins the subject ofpropelt l 'which is inheli lable and ot targible.INCORPOIII IAL PROPERTY That \ ' !h ich (onsists . legal f ightsINCUMBRANCIT AnI right to, or i]rtefest in, Ia d lvhjch nlal sub-sist in .r thn'd pelsoD. (The vendol of laud is bound to disclosc in-cunbrances.) (P. L. Enc.) (SeeEncumbr^nces.)INDENTURE-A contra(t; an agreerneDtunder -


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358 The Re(Ltrt! hrc Book of CaLiforniaIRRIGATION-The adificial \yatering of land adapted and devotedto agriculture for the pulpose of raising crops arld products of thesoil.IRRIGATION BOND-A bond authorized by a vote of th electomin an illigation distlict and met by assessmentsevied upon the landsiD such dist cts.IRRIGATION DISTRICT A public corporation having power- toconstruct, maintain and oper-ate r.rigation and di.i,ersion works tosupply consumers with $ater to irrigate lands.JOINT-Any Llnder'lakillg n which the contracting parties are boundin colimon to per{o|m and entiUed in common to receive the benefitsthelefrom-JOINT TENANCY-A co-tenancy in which, as betwen the teDaDts,each owDs all. (See TeDancy in Common for distinction.)LAND -A Iprm cor' ]p|ehpndirg ny gl.ound, oi i , or earth whalcrer.Lrnd jncludes.in gprpi.alal l bui ldir,sserp.tpd on ir .LANDMARK-A monumeDt set up in order to ascedain the boun-daries between two contiguous estates.LANDLORD--{ person \r'ho omls lands or tenements which he rentsto othe$.LANDLORD AND 'I"ENANT-A term used to deDote the relationrghich subsists by virtue oI a contract between two or more persons,for- the possessionor occupation of lands or teDements,LAND GRANT BONDS Bonds issued by rail$,ay compaDieswhichpledgp. s se(ul i lv lor.amc. l ."ds grrnted them L) rhe goverrnrpn,,and usuallyrFdeamedt o"r Lhe foceed! ol rhci. "ale.LAND TITLE ACT See Torrens TiUs.LEASE-A sDecies f coDtract for the possessionanalprofits of landsand tenements for a certain peliod of trme.LEASEHOLD The estste held by virtue of a lease.LESSEE-He who holds an estate by vi*ue of a lease.LETTERS- PATENT-An iDstrument granted by the govelnmeDt toconvey a right to the patentee.LEVY ON LAND-SeizuIe oI taDdsunder writ of execution.LICENSX A rig.ht given by sornecompetent autho ty to do an activhich without such authority vould be illegat.T.IEN-A.laim against tr,epropertJ which jhe possessofma\ retainu,rt t l the salisfacl ion o[ sornedemand. or a dpbr due him. (Sp.,Mechanic's Lien).LIFE ANNUITY-A fixed sum of money payabte yearly to and alur_ing the life of the person entitled to recclve same.


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The Realt! BLueBooL of Calitornia ersLIQUIDATED DAMAGES-Damag9s. xeg Y.pSnn advance v-thepa"li"" to " contmctas the amounlwbich shall be recoverable ponabreach of tlle contrsct.LIS PENDENS -One who purchases roprtv pendinga legalactionconcerningt, takessubject o the eventof the actioh'LOCATION (of lands)-The act o( spleclingand designating landsvrhich he pplsonmaking he loration s aulhofzedby law lo sFlecr'LOCATIvE CALLS-Calls describing enain meansbv which theland to be locatedcan be identifed.LOT-A small piece of lantl in town or city usually employed forbuilding.MARKET PRICES-Pricas which aTeactuallvbeingrealized Pricea*rti"ii *".i."""t al the lime and obtainableor approximatelvso'MARKED SICNATURE- Wlen it is necpssaryor.a personunable;-;;li;i";g" his name o anv.lesa) nsrrument'he must makeacross-which rirust be witnessed. In Califomia two witnesaea re re_qtrired,ogethe|with their signed tatemenL'MECHANICS LIEN -A lien on real-propertv which the law--allow-sia *ectta"ic" or laborers for work done or lo thosesupplyng rna-['i;i:'ii i;; ;":fi;ii; oi tuitaing"or rhe mprovementso reerpro!efty.MIXED PROPERTY-Propertv not altogether eal nor peNonalbuta compoundof both.MONUMENTS-Permanent laDalmarks stablishedor the purposeof indicating boundaries.MORTGAGE-An instrument signed.sealed'and given by the bor-'"ii.. i,i,i,ttg"ftl to the monga-geev whichrhe atter has he righti.J i""iii-r,iiii?rr l,ru,opropertv-des"iibedn the nslrumenLn caseit Jrno"tg"go" do"" nol meel his indebledness

sset forth in the con_iiUo"" tE.;"a to ur the time of the creationof the debt -(SeeTrustbeea or'oist incrion A mortgagFmusl be executed ilh the sampiJ"ti.riii* i"iii,-ti'"J t re case"oiagrant of real propet'1v'MORTGAGE BOND-A pmmise. o pay in the form of a bond andsecuredby a mortgage on ProPeIlY.MORTGAGESALE-Sale under foreclosure'ITUNICIPALITY-A lown. citv. or otherdisrr icthavingpowersollocalself-sovernmenl. A municipalcolToral onNEGOTIATE-To sell, disposeol ' transfer, bolrow' accomplishatransaclron.NET-The lowest terms, when all possible deductionshave beenmade.


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360 The Realtxt Blue Book of CatiforkilLNET RETURN-The propodion: rate 1vhich the income bears tot he t o t a l o q { , r a l e 5 ra 1 a " n ' . 4 . l l h a t I n v p s l m e n r . , a k i n gn to t hpconslclel.al io hc t imp which rhp invpsrntpnrmay bc ourst rdrng be_fore being paid ofi.NON-ASSESSABLn- P f o p e r l r . h p o w re r . o i $ h i c \ . . a n ) r o r F gayb e . o m p e l l e do r h a l pa d d i l i o n a i a y n r e ! u p o D .NOTARY PUBLIC-One commissionedby the state to take acknowtedgments, depositions,adniDister oaths, etc.N U I S A N c E - , \ n J l h i n g r h r r u n t r w f u l t Jw o r k s h u r r , ' r . o v p n i e n . p ,o_r lalnage l lands. p||e'nanrs r hFr' .dirampnls l rnothar. (p. L.Enc.) Anythjng injurious to health, jndecent or oflensive to sensesor an obsl. fu. l ion o fl.pe usAof prona ) so a: to inlarfere wjth i lscomrortabre nJovlren'is r nUisar." . rC. a. Se. 34?9.) (S"p Abat-_OFFER-A bid, an olTer o buy.OPEN.MORTGACE-A mortgage uncler which more indebtednesscan Detncurrecl.OPTION- A.contracl whe.eby one is giveD the dght ior a cedaintrnre.at hrs elect ion, o demandand receive. r to deliver property a[a stated price. A consideration is rquired to render an option bind_ORDINANCE A law of a municipality.OUTHOUSES Buildi gs adjoinrngor belongirg o dwe ing houses.{ 160 Cal. 25?).OUSTER -Thc a(tual run, ing our or kppping px.ludpd ,h. palryenIIIleO tO pOSSeSSiOt).OWNERSHIP-The light of one or more personsto possessaDd useproperty to the exclusion of others. (C. C. Sec. 6J4.iOWNERSHIP (QUALIFIED)-When proper.ty is sharealwith one ormore persons: when.lhe.t ime of pnjo)rnent is defpl,redor l imilpd;when the usc iq restr i cted. rC. C. Se{.C80.,PAPER PROFITS-Prolits supposed o exist but ot vet r.ealizeat.PARCEL-PaxI of the estate.PAROL (Oral)-An aereementmadd orally between parties by whichone of them leases o the othr a certain eslare.PARTNERSHIP A r,'oluntary cortract between two or. more per_sons.. for o;ning rogerhef heil money,goods, abor and sk; l l , or anyor al/ ol lhem. irr sona la,* ul .ommerceor businpss, ndar ar undcrl_standing_expressed' imtl ipd. rhal lhere shalj be a communionofprof i f and ossbetweFn hem. Parl, ,erships. innol rake1ir le.bul part-nrs may be treated as teDants in commonPARTY WALt-A wall prccledon rhe line between wo adioininscstates elonging o dif fpr.enLel\ol ls, or thc seof borhestates.


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Tke Rea,ltaBIue Boolr al Cd,li.fonria 361PATENT-A grant of someprivilege. property or authority madeby lhe governmenl. A title deedby which the governmentconveysits lands.PERSONAL PROPERTY-AII movabteproperty; horses, ools, fur-nil,ure..ch-altelsf all k inds (crops l annualplanling).etc..as dis-nngrlshed rom reat property.POWER OF ATTORNEY-A wdtten paper, signed and acknow-ledged. ivenby oneperson o another, ulhorizinshe laller lo acLin l,he ormer's nameandslead,such acts having tf,e same orceandvalue as if doneby the persondelegating he authority,POWEROF SALE-A clausenserredn a mortgage o{por in anyother form of indebtedness hich g;ves the lender hc right to seilthe property securing he debt. f nol paid as specified,PREMISES-Lands and tenemenis.PRINCIPAL-One who, being competent o do an act for his ownbenett, confidest to anotherperson o do for him.PRIORITY Precedence,oing before.PRIVITY-The mutual or successiveelationship o the samerightsof property.PROMISSORYNOTE-A written promiseon the part of oneperuonto pay another or order a stated sum of mony at some uture time.PROTEST-A fomal declaration hat negotiabte aperhasbeendis-honored.PROVISO-A clause nserted in an instrument containinEa condi-t ion that a cerlain hing shallor shallnot be done n ord;r $at anagreement contained in another clause shall iake effect.PROXY-A paper, properly signed and witnessed,which confers theright to vote for tie person giving the proxy.QUIT CLAIM-A lorrnof deed n the naturP f a release,onlainins\trords f grant as well as release, ut wirhout any covenants r war:ra.ntiesof any kind. Used to clear up someapparent interest.RANGE-A telm desiglating the order of the locationof lands inpatents from the government to individuals.EEAL.ESTATE-Any interest held by a personor persons n realproper[y.ROAL ESTATE AGENCY CONTRACT-An asreement betweentwo or more padiesby which oneof themagrees dpay a commissionto the other in considration of his services in negotir.ting the salqlease or purchaseof an interest in real property.REAI,IZE-To conved into cash,sell, take one s profit.REAI PROPERTY-Land and buildings. ncluclingeverlthins, suchas minerals.etc., below the surlace,and the air or spaceabovi; alsoall crops, as g?ass, rcs, etc., which are not consideied as of annualplanting,


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362 The Re(LltA lu.eBook ol Catilerni./rRECEMR...One app-ointed y t]le courl to take the custoaly,man-agement,or disposalof property in conlroversypending itig;iion.RECORDER-An officerappointed o makerecordsor enrollmenl, foeedsand otner tegal nslrumenls.authorizedby law to be recorded.REDEMPTION-A purchsseback by the se er from the buyer.REDEMPTION (EQUITY OF):The fight of the mortgasor to re-purchase.RELEASE (OF MORTGAGE) -After satisfaclionof t}le obligal,ioDwnrcn rne mongage ts gtvento se.ufre.he mortgegeemust executeand sigr a releaseof mortgage.RELINQUISHMENT-A forsaking, aba.ndoning r giving over aREMAINDER MAN-The one o whom an estategoesafter a certainestate s determined.RENT-A retum or compensation for the possessionof some cor-porear property.REPUDIATE-To rcfuse o pay a debt; to dishonorone,sobtigation.RESERVATION-CIauSe in a deed reser.vingo the grantor some-thing out"of he thing granted. Any bodyot tanawlictiCongress frasreselveqJrom sale or any purllose.RESTRICTION-An agreement inserted in the deed, which runswitll the land, Iimiting its use o celtain specificpurpoies.RESI DENCE- Permanenlplaceol occupalion, s djstinguished romrooglng,boardlngor temporaryoc(upation,REVERSION-The residue of an etate left by operation of law inthe granl,oror his successors,ommencing n'the tetminaiion'oflpart lcular stalegranied. (C. C. Scr.268.)REVOCATION-Therecatl f a poweror authoriry onfenpd, r the\ a@trngoI an rnsl,rument reviouslymade.RIGHT- (?re.-emption) .Thal right given sertJelsupon rhe pubticffiT*:1"*" u, s. to purchase hemat a timited price in preferenceRIPARIAN--Of, pertaining to, or livirg on the bank of a river.RIPARIAN -RICHTS-Thedghis of a person wning andcontain_rng or Doroertng n a watercource r other bodyof water, in or to ilsbed, oI waters. At corunon law a pcrsonowning land borderins anon-navigabte lream. owns the bed of the stream to the ..ffllimaquae," or thread of the stream and may make use of its waters,SALE -A conrract by whi-ch,or a valuableconsideration, alledapnce,on ransters lo anolheran interest n property.SALESMANSHIP-I'he art of selling a commodity at its fu market


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The Resl,lvBI,IEBooh al Co"lilorniaSECOND MORTGAGE-A mortgag placed upon pmperty whichalready has another mortgage existing upon it.SECTION-A parcelof land containing 640 acres.STIPULATION-A material article in an agreement.STREET IMPROVEMENT BONDS-Bonds securedby special axlevy upon the property abutting upon the street or in the specialdistrict improved; the entire city not being resporsible for their pay-ment.SUBDMDE-To di\ridea parcel nto smallerparts; to separate ntosmaller divisions,SUB-LEASE-A leaseby a tenant to anotherpersonof palt of thepremisesheld by him, or of part of his term.SUCCESSION-The coming in of another to take the property of onevrho dies intestate.SITRETY-A guarantee or security against loss, or for the carryingout of someagreedpromiseor act. Onevrho so guar*nteesgnother'sacts es "suret/' and sny bond g:ivenas evidence of the falt bears thesame title.SYNDICATE-A group or combinatior of men who combine heirmutual interests for the purchase or coniml of certain propedies.TAIL (Estate in)-An estate of inheritance which instead of de-raending to heirs generally, goes to the heirs of the donee's body,w'hich mesns his lawful issue, his children, and through them to hlsg"andchildren in a direct line so long as posterity edlures. (Abolishedin California. (C. C. Sec.?63.)TAX-A contribution imposedby the govemment on individuals forthe service of the state.TAX DEED-An instrument whereby an officer of the law under-takes to convey the title of the rightful propdetor to the purchaserat a tsx sale.TAXING DISTRICT-The distdct throughout which a pa*iculartax or assessments ratably apportioned pon he inhabitanLs; t mayte a whole Btate, one county, a city, a ward or a part of a street.TAX SALE-A saleof lands for the non-payment f taxs.TENANT-One who holds or possessesands or tenementsby anykind of title either in fee, for life, for yearc, or at will.TENANTS IN COMMON Two or morepartiesholding and or tene-ments by several and distinct titles, but occupied n common. Theonly unity recognized etwenhem is that of possession. SeeJointTenants.)TENANT AT WILI-One who lawfully enters the premiseswithoutstipulation as to the time he shall occcupy hem.TENEMENTS -Everything of a permaneninature which may benolden_


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364 The Real,tu Blue Book ol Cdliforni&TITLE-The means whereby the owner of land has just and la$/fulpossessionof his propelty.TITLE DEEDS-Those which ar.eevidenceof the ti e ol the ownerof al1 estate.TITLE INSURANCE- A plan wherebJ one may obtain insumnceagarnst- losrising from impadpct t i l le. j t f r l l ing upon ihe companyto satisfy itsell as to the title's soundness.TORRENS TITLE-One which has been registered under the ToEensLaw,.in which a cetificate is recorded show:ing he exact condition ofthe title. (See Realty Btue Book).TIANSFER-The act by which the owner alelivem property to an-other.TRESPASS-Unauthorized entry upon the reatty of another.TRUST -A righl of propertJ, real or parsonal. eld by one party fortha bp pfit of anolher. M^y bp pilher volunlary or inl 'olunrary. 'TRUSTEE-One \r.ho holds the legal custody for anothe/s trust.TRUST DEED-A written instrument which conveys the tide ofpropefiy Io a-third person or the purposeof securinga debt or otheroDrgatlon,.w,th oweroi saleon fai lure to pay or perfom the obliga_1ion. A saleunder a lrusl depdallows no periodof redemption.TRUST ESTATE An ps{arewhosp egatpossessionnd bFnp6rs revested In.onp pprson, he a(lual possession nd managementof i t ,however, berng entl.usted o otbers,URBAN-Relating to a city.USAGE-Long and uniform practice.VACATE-To move out; abandon, quit.VALID-.-An act. deed.wit t . et. . , which bas received lt formalit iesrequrred by taw,VENDOR S LIEN .An equitabte ien a owed lh, vendor or landsolcl, or r. trp urchasA noney.where lhe decdexpresses, ontrary lorne ra.r, thal the purch^semoney s psid.VOLUNTARY CONVEYANCE-The transfer of an estate maalewithout any adequate consideration of value.VOLUN1 ARY TRUST An obligat ionarjsing out of a personal on_noen-ceepospd n, and \otuntari ly accepted y, one for the benefitofanother. (C. C. Sec. 2216.)WAM-To abandon or forsake a r.ight.WARRANTy--Au engagemenl y which a sel lerassurps o a bulerthe eyistpncF f sonre a.r affect ing the imnsa(t ion. whethel pa.st,presentor future. (C. C. Sc.1?63.)WARRANTY DEED-(See Deeds.)WASTE- -Dest uct ion donp oI permirred o lands, houscsor orhercorporeal-her'edjtanrents) ihe tenant thereof o the pj.e. iudicel thenprr of ot htm In reversionor remainder.WILI-A wilt is an instrument for. disposing of one,s pl.operty, exe-cuted according to law, whjch is to take effci after his iealh. " -


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Real Estate Dictionary Historic 1924

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Transcript of Real Estate Dictionary Historic 1924