Definition: an agency of the Department of Agriculture that offers assistance to rural residents and communties
Used in a Sentence: We were able to get help buying the farm from the Rural Housing Services Administration.
Definition: those rights and obligations that are incidental to ownership of land adjacent to or abutting on watercourses such as streams and rivers; includes bathing, boating and dockage in accordance with state and federal statutes
Used in a Sentence: Because our property was located on the banks of the river, we had riparian rights to the use of the waterway.
Definition: a leasehold interest in a time-share unit based on the limited time specified in the agreement; the legal right to use or occupy a property
Used in a Sentence: Our time-share agreement gave us the right-to-use the unit for two weeks each year.
Definition: a legal concept whereby the surviving owners of a joint interest in real property are entitled to the interest formerly owned by one or more deceased owners without the need for probabe proceedings
Used in a Sentence: A joint tenancy is characterized by the right of survivorship.
Definition: to cancel, rescind, annul, or make void: the permanent cancellation of a person’s license
Used in a Sentence: The most severe type of administrative penalty the FREC is authorized to impose is revocation of a license.
Definition: the returning of property to a former owner or to a person who received the right to it when the former owner died
Used in a Sentence: John had an estate in reversion as the property would return to him upon the death of his father.
Definition: a form of mortgage that enables elderly homeowners to borrow against the equity in their homes so they can receive monthly payments to help meet living expenses
Pronunciation: \ri-ˈvərs\ \ˈmȯr-gij\
Used in a Sentence: My grandparents took out a reverse mortgage on their home so they could have extra money each month.
Definition: conditions placed by developers that affect how the land can be used in an entire subdivision
Pronunciation: \ri-ˈstrik-tiv\ \ˈkəv-nənt\
Used in a Sentence: The restrictive covenants in the development specified the size of the houses that could be built.