Tenancy by the entirety is a type of shared ownership of property recognized in most states, available only to married couples. Much like in a joint tenancy, spouses who own property as tenants by the entirety each own an undivided interest...
property & real estate law
tenancy in common
A tenancy in common (TIC) is one of three types of concurrent estates (defined as an estate that has shared ownership, in which each owner owns a share of the property). The other two types are a joint tenancy and a tenancy by the entirety...
tenement
Tenement most often is used to refer to property involved in an easement. The property benefiting from the easement is called the dominant tenement, and the property granting the easement is called the servient tenement.
...
testamentary power of appointment
A testamentary power of appointment is a power of appointment that the donee can only exercise through their will. This can be contrasted with a presently exercisable power of appointment.
[Last updated in June of 2024 by the Wex...
title
Title is the aggregate of legal rights enjoyed by a person under law towards the ownership and possession of a property. Generally, title is associated with real estate and signifies absolute ownership. Title can be classified into two types...
title (property)
In matters of property law, title constitutes the legal basis of ownership. Distinct from possession, title is sometimes synonymous with absolute ownership. Depending on the property, title is represented by documentary evidence of ownership...
title abstract
See: Abstract of title; Abstract
[Last updated in November of 2021 by the Wex Definitions Team]
title company
A title company is an organization that provides title insurance and conducts title searches for transactions of property. When a person or organization decides to buy property, they usually will want a title report and often want title...
title insurance
Title insurance is coverage purchased by buyers of real estate to protect against issues of title. In a real estate transaction, a title company or another institution will conduct a title search for any erroneous issues with the title, and...
title report
Title report is a document containing the key legal details and history of a piece of property found during a title search. While anyone can get a title report, buyers typically pay for a title report when buying a piece of property as part...