Glossary of Terms
- Deed
- A legal document used to transfer real estate title during the grantor's lifetime.
- Easement
- A non-possessory right to use real property owned by another for a specified purpose.
- Grantee
- One to whom a grant is made.
- Grantor
- A transferor of property.
- Joint Tenancy
- Undivided co-ownership by two or more persons under which a deceased owner's interest will go to the surviving joint tenant(s).
- Mortgage
- A legal instrument creating a lien against real estate in favor of a lender, until the debt is paid.
- Mortgagee
- A lender or holder of a mortgage.
- Mortgagor
- One who, having all or some part of title to property, by written instrument pledges that property for some particular purpose, such as security for a debt.
- Plat
- A map of a town, section or subdivision showing the location and boundaries of individual parcels of land subdivided into lots, with streets, alleys, easements, etc. usually drawn to a scale.
- Quit Claim Deed
- A deed is used to release or relinquish a claim without making any warranties regarding the validity of such claim.
- Satisfaction (Release) of Mortgage
- A discharge signed by the mortgagee or holder of the mortgage indicating that the property subject to the mortgage is released or that the mortgage debt has been paid and that all terms and conditions of the mortgage have been satisfied.
- Sheriff’s Deed
- A document giving ownership rights in property to a buyer at a sheriff's sale.
- Tenancy in Common
- A co-ownership by two or more persons under which the interest of each owner is inheritable.
- Transfer on Death deed
- A document or an instrument that conveys ownership of real property from one person to another upon the death of the grantor or owner. A Transfer on Death Deed may be revoked at any time.
Information collected from:
Black's Law Dictionary (1982) & Evidencing Kansas Land Titles (1985)