property & real estate law

Coho

Definition from Nolo’s Plain-English Law Dictionary

An idiomatic term for a person living in a tenancy-in-common or co-housing arrangement with others. Also, short for "cohousing," a type of shared housing. (See: cohousing)

Definition provided by...

Cohousing

Definition from Nolo’s Plain-English Law DictionaryA type of collaborative living arrangement in which residents share in the design of their community. Generally, cohousing means that each resident or family has a private space, and the cohousing...

Collateral

Property or assets that are committed by an individual in order to guarantee a loan. Upon default, the collateral becomes subject to seizure by the lender and may be sold to satisfy the debt.

EXAMPLE

In securing a mortgage, the borrower...

Color

The appearance of a valid claim, right, or authority at a given point in time. The term is often used in hindsight when the claim, right, or authority actually proves to be invalid.

See, e.g., Color of law, Color of office, Color of title,...

Color of Title

A person has "color of title" to a piece of property when, for one reason or another, the document evidencing title (a deed, for example) is invalid.

Commercial Exploitation

Term that includes all activities used to benefit commercially from one's property. Examples include making property, selling it, offering it for sale, or licensing its appropriation or use.

See, e.g., Patent.

Commingling

Definition from Nolo’s Plain-English Law DictionaryThe act of mixing the funds belonging to one party with those of another party. Usually, spouses or business partners may commingle assets without a problem. However, in community property states, a...

Common Area

Definition from Nolo’s Plain-English Law Dictionary1) Facilities and space, such as recreation facilities, parking, laundry rooms, or a courtyard in condominiums, apartment buildings, and some cooperative housing projects. In rental properties, landlords...

Common Interest Development

Definition from Nolo’s Plain-English Law DictionaryA type of housing, composed of individually owned units, such as condominiums, townhouses, or single-family homes, that share ownership of common areas, such as swimming pools, landscaping, and parking....

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