Affirmative waste, also referred to as voluntary waste, refers to overt and willful acts of destruction performed by a tenant or life tenant that lead to the drop in value of a piece of property by harming the property or depleting natural...
PROPERTY
after-acquired property
Also called “future-acquired property”.
Personal or real property that a borrower acquires after having taken on a debt secured by all of their property, which becomes additional collateral for the debt. Based on UCC § 9-204, such...after-acquired title
Title held by someone who bought property from a seller before the seller received title to the property and who automatically obtained title upon the seller’s receipt of title.
An example involving acquiring after-acquired...
agency
Agency law is the common law doctrine controlling relationships between agents and principals. A principal-agent relationship is created when the agent is given authority to act for the principal. An agreement made by an agent is binding on...
agent
An agent is a person authorized to act on behalf of another person. The party an agent is authorized to act for is known as the principal. A principal-agent relationship can either be intentionally created or created by implication through...
agriculture
Agriculture refers to the acts of farming and raising livestock. Activities that fall within agriculture include soil preparation, seed planting, crop harvesting, gardening, viticulture (growing grapes), apiculture (bee-raising), dairying,...
alienable
Alienable means transferable.
An interest in property is alienable if it may be conveyed by one party to another. In general, all private property is alienable unless some contractual, common law, or statutory restriction...
alienation
Alienation refers to the process of a property owner voluntarily giving or selling the title of their property to another party. When property is considered alienable, that means the property is able to be sold or transferred to another party...
aliquot
Aliquot is derived from the Latin word meaning divisible from a larger whole without a remainder (i.e. divisible an exact number of times). Today, it usually means a fractional part or a share of the whole. The term aliquot is most commonly...
alluviation
Alluviation is the gradual shifting of land boundaries caused by the depositing of gravel and sediment by a moving body of water. Alluvion is the actual sediment deposited on the land (e.g. a bank or shore). Under common law, land altered by...