A recording act that gives priority of title to the party that records a claim first, even if the party had notice of an earlier unrecorded claim on the same property.
See Notice statute and Race-notice statute.
property & real estate law
Race-notice statute
A recording act that gives priority of title to the party that records first, but only if the party also lacked notice of prior unrecorded claims on the same property.
See Notice statute and Race statute.
ratable
An amount to be appraised or apportioned. For example, the Internal Revenue Code § 306, which describes the tax treatment of income from the sale of stock, exempts “such stock’s ratable share of the amount which would have been a dividend at the time...
real covenant
See covenant that runs with the land.
Real estate
Real estate is a piece of land, including any artificial or natural property permanently attached to it, above or beneath, such as a house, a building, a tree, or minerals. Personal property like vehicles is not part of real estate. The owner...
Real estate agent
A real estate agent is a person who has obtained a professional license to act as a salesperson in the business of selling, buying, and renting real estate such as houses, buildings, and offices. A real estate agent may represent the seller,...
Real estate broker
A real estate broker is a person who has obtained a professional license to directly act as an intermediary in the business of selling, buying, and renting real estate such as houses, buildings, and offices. The main difference between a real...
real estate investment trust (REIT)
A Real Estate Investment Trust (REIT) is a company that invests in income-generating real estate. REITs are held by shareholders, who receive dividends from the various real estate investments that the company makes. One main draw for investors to...
Real estate transactions
real estate transactions: an overview
Real estate transactions are governed by a wide body of federal statutes and a combination of state statutes and common law. The requirements established by state law often differ significantly from one state to the...
real party in interest
A real party in interest is the person or entity who has the right to bring suit even though someone else would ultimately benefit from the suit if it is successful. For example, in In re. Semgroup Corp., a Texas Court of Appeals case, a widow and...