process by which real or personal property is seized by the court for the purpose of assuring payment
a lien, usually a trust deed in CA, covering more than one property of the borrower
a limiting restriction stating that upon the happening or non-happening of some stated event, the estate shall be changed in some manner
Declaration of Abandonment
statement declaring the intent to give up a homestead, usually to declare a homestead on a new residence
Declaration of Homestead
formal statement that protects the head of household from losing the property to the claim of creditors, usually up to a set maximum amount
Easement in Gross
easement for the benefit of a person or utility company rather than for the benefit of an adjacent landowner
anything that affects or limits the fee simple title to, or value of, property, eg mortgages or easements
lien such as a tax lien or judgment lien that attaches to all property of the debtor rather than a specific property
statutory protection of a home from the claims of certain creditors and judgments up to a certain amount
notice filed or recorded for the purpose of warning all persons that the title to certain real property is in litigation
a lien, created by statute, which exists against real or personal property in favor of persons who have performed work or furnished materials for the improvement of real property
an instrument, recognized by law, by which property is hypothecated to secure the payment of a debt. This instrument is not commonly used in CA, but popular on East Coast.
Notice of Non-Responsibility
a notice, recorded and posted by the property owner to relieve then of responsibility for the cost of unauthorized work done on property or materials furnished (carpet in a rented apartment)
a notice that informs or warns owners, lenders, and general contractors that subcontractors have been hired, or materials have been supplied to a particular job site
a limitationon the use of real property. Two general classifications: public and private. Zoning ordinances are public. A clause in the deed requiring the roof be made of Spanish tile would be private limitation
discharge of a mortgage or trust deed from the records upon payment of the debt. Make sure you receive a Deed of Reconveyance to prove that yo paid off the deed of trust.
court ordered sale of real or personal property by the sheriff pursuant to the execution of a judgment
legal document by which a borrower pledges certain real property as collateral for the repayment of a loan. In addition to the buyer and seller, there is a third party to the trasaction known as a trustee.