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Glossary

Terms most frequently used in the evaluate practice, mapping, and the move of ownership.

Abatement– An official reduction that assessed valuation after perfect of the original assessment.

Abstract– Compiled info containing every one of the instruments that have been recorded affecting a certain property.

Access– The ideal of egress from and also ingress come a residential property from an existing highway or street.

Accretion– The process by which brand-new soil is accumulated, as to the financial institutions of a river or stream.

Acre– A soil measure same to 43,560 square feet.

Acreage– Usually huge tracts that land mainly used for farmland, timberland, or idle floor in rurallocations; building that has actually not been separated into smaller sized parcels for residential purposes.

Ad Valorem Tax– A tax levied in proportion come the worth of property being taxed.

Adjacent– residential or commercial property in the community or vicinity of an additional property.

Adjoining– share a property boundary; contiguous.

Adjudicated Property– home which is take away by a jurisdiction with judicial method uponnon-payment that taxes.

Adverse Possession– The exclude, occupation and constant possession the another’s realproperty under an obvious claim of location or right.

Aerial Photography– A photograph of a component of the earth’s surface taken by one aircraftsupportedcamera or satellite.

Affidavit– A written kind of one affirmed or sworn statement.

Agricultural Property– improved or unimproved land the is committed to or easily accessible for theproduction of plants and/or farming products, livestock, and farming support buildings.

Alluvion– floor which develops upon the financial institution of a river or stream, either by buildup ofmaterial or recession of water.

Amendment– A change correcting one error or altering component of an agreement without an altering the principle idea.

Annex– To join a smaller, subordinate building to a larger or an ext dominant property.

Appeal– A process in which a property owner contests an assessment either informally or formally.

Appraisal– The action of estimating the financial value the property.

Appraisal ratio Study– A proportion study utilizing independent skilled appraisals as indicators of sector value.

Appreciation– increase in value of property, in terms of money, from reasons other than enhancements and betterments.

Appurtenance– Any addition to a home that becomes part of that property.

Ascendants– Those heirs in a ascending line.

Assess– come value residential property officially for the objective of taxation.

Assessed Value – A value set on residential property by a government as a basis because that levying taxes.

Attest– come witness.

Authentic Act– An act passed prior to a notary public and two witnesses.

Avulsion– The sudden and also tearing far or separation of land by violent activity of water.

Bearing– Direction the a line measured together the acute angle from a recommendation meridian.

Board of Review– A windy body having actually jurisdiction over an evaluate district, charged with examining the evaluate rolls, and also empowered, on appeal to revise individual assessments.

Bond because that Deed– A contract for sale in which the seller retains title to the residential or commercial property until the the person who lives completes the contract payments.

Book and Page– describes the conveyance book and page number in i beg your pardon an instrument is filed in the office of the clerk of court; volume reference

Boundary– A line the marks the outermost degree area, or a department between areas, such together a residential property or property boundary.

CAD– computer Aided Drafting.

Cadastral Map– A scale map displaying residential property ownership boundaries; also known together a cadastre.

Call– The designation that visible organic objects, monuments, courses, distances, or other matter of description as borders of the boundaries.

CAMA– (Computer-assisted fixed appraisal) A device that incorporates computer-supported statistical analyses to aid in estimating value.

Cardinal Direction– direction expressed together either early out north, south, east, or west.

Center Line– refers to the center of a street, road, or right-of-way gift midway in between thesides.

Certificate that Redemption– The proof of buying ago or redeeming a home by the owner after ~ loss with a judicial sale.

Chain– A land measure up of 66 feet.

Chord– A right line connecting the tangents of a curve.

Cloud that Title– any valid claim, encumbrance, or lien that may impair the title to genuine property.

Codocil– A supplement or enhancement to a will.

Collateral Heirs– brother of a deceased person.

Commercial Property– Generally any realty of a advertisement enterprise.

Common Area– one area of building that is no designated because that rental or sale, i m sorry is accessible for usual use by all tenants and owners.

Community Property– home owned together by a husband and wife.

Consideration– The amount of money and also other value items or services on which a buyer and also a seller agree, come consummate a sale.

Contiguous– sharing a home boundary; adjoining.

Contour– an imaginary heat on the ground, every points that which room at the same elevation above or listed below a specified reference surface.

Conveyance– Legal files that carry ownership the property.

Conveyance Records– The document of all sales of immovable residential property kept through the salesman of court in a jurisdiction.

Coordinates– straight or angular amounts that point out the place of a allude in a provided reference system.

Cost– In appraisal, the expense, direct and indirect, of constructing an improvement.

Covenant– A restriction ~ above a property.

Credit Deed– an instrument send immovable property on credit terms; vendor’s lien.

Curator/Curatrix– A guardian appointed through the court to take treatment of the heritage of an it s not enough ability person.

Dation En Paiement– A providing by a debtor and also receiving by a creditor of home in lieu of financial payment for a debt.

Decedent– A deceased person.

Degree– One 360th that the circumference of a circle.

Descendants– Those heirs in the diminish line.

Depreciation– lose in value of an object, relative to the replacement price new, reproduction costnew, or original cost, every little thing the reason of the lose in value.

Deed Restriction– A limitation to home rights that transfers with the home regardless ofthe owner.

Domicile– That certain locality within a person is legally understood to have his or she truehome or location of abode; residency.

Donation– A gift of home by a donor come a donee.

Donee– One that receives residential or commercial property through a donation.

Donor– One who offers or donates residential property in a donation.

Double assessed– twin assessments gift made top top the exact same parcel.

Easement– A right held by one human being to use the soil of an additional for a certain purpose, together asaccess to another property.

Egress– an outlet or leave or means of exiting.

Emancipation– to elevate a minor to the condition of one adult in the eyes of the law.

Eminent Domain– The right whereby a sovereign government may gain private residential property forpublic usage upon payment that reasonable compensation, however without consent the the owner.

Encroachment– The unauthorized trespassing of an innovation on the domain the anotherperson’s land.

Encumbrance– any kind of limitation that affects rights and value.

Equalization– The procedure by i m sorry an proper government human body attempts come ensure that allproperty under its jurisdiction is assessed at the same assessment proportion or in ~ the ratio forced bylaw.

Escheat– The right to have property revert come the state because that nonpayment of count or as soon as thereare no legal heirs that someone that dies without leaving a will.

Escrow– A written instrument the by its terms imparts a legal obligation however that is inserted by thegrantor in the hands of a 3rd party, come be held by that or her till the event or nonoccurrenceof a stated event, then only to be delivered to the grantee and also to take effect.

Estate– The accumulation property of every descriptions left by a decedent.

Estate Tax– A tax based on the value of the heritage of a deceased person.

Et al– and others.

Et seq– and following.

Et ux– and wife.

Et vir– and husband.

Exchange Deed– tool wherein two or much more persons mutually exchange equitableproperties.

Executor/Executrix– human being designated through a will certainly to carry out an estate.

Executory Process– An increased procedure because that foreclosing a mortgage or vendor’s lien.

Exemption– Excludes property from taxation without regard come its value; a palliation in the residential property tax base.

Expropriation– The exercise of the appropriate of eminent domain to secure legal location to personal property forced by public use.

Façade– The main exterior challenge of a structure.

Fee Simple– In floor ownership, complete interest in a property, subject only to government powers.

Fiduciary– A person having actually the nature of a trust.

Field Review– The practice of reviewing the reasonableness that assessments by city hall the nature in question.

Forty– A subdivision the a ar containing 40 acres, and also described as being a quarter-quarter.

Fractional Section– A subdivision that a township containing much less than 640 acre of land.

Frontage– The extent of a package of land follow me a street, road, river, or various other traffic artery on i beg your pardon the thoreau is stated to face.

Geographic info System (GIS)– A database monitoring system supplied to store, retrieve, manipulate, analyze, and also display spatial information; a type of mapping system capable of integrating spatial data and also attribute data among different great on a basic map.

Global Positioning device (GPS)– A navigational and also positioning system by which the place of a place on or over the planet can be determined by a one-of-a-kind receiver at that allude interpreting signals got simultaneously from number of of a constellation of distinct satellites.

Government Lot– one of the nonrectangular areas into which sections no evenly or about divisible into square forty-acre tracts were divided in the food of the federal government survey.

Government Survey– A ground inspection authorized by the continental Congress in 1775 and also subsequent acts, in which the soil was separated into townships roughly six mile square, every township normally containing thirty-six sections and each section generally containing 640 acres. Also known as the general public Land survey System.

Grantee– One who acquires property by voluntary conveyance.

Grantor– One that voluntarily conveys property, even if it is by sale, gift, lease, or otherwise.

Hectare– Unit of floor measure same to 100 meter square. Identical to 2,471 acres. Homestead

Exemption– flexibility of part or every one of the worth of one owner inhabited property from home taxation.

Immovable Property– genuine estate; genuine property; realty.

Improvement– any type of structure or enhancements erected ~ above property.

Industrial Property– Generally any property offered in a production activity.

Ingress– An entrance or means of entering.

Instrument– A official legal paper such as a deed, contract, will, or lease.

Inter Vivos– between livings persons.

Interdict– A human mentally capable of caring for himself, and also who has actually been legally cursed to an institution or come the care of an additional person.

Interdiction– A legitimate proceeding to explain a human being mentally incapable of caring for self or herself.

Interest– The part of ownership of a human being in a property.

Intestate– The state that having passed away without leaving a valid critical will and testament.

Inventory– The group of personal property items, own by a service solely because that the objective of sale quite than use.

Irrevocable – the which deserve to not it is in recalled or revoked.

Judgment– A decision the a court. Also a righteousness mortgage.

Kilometer– Unit of size equal to 1,000 meter or 0.6214 statute miles.

Land Patent– Land formerly owned by a state or national government as component of the original public domain that has been voluntarily conveyed by such federal government to a personal owner by a proceeding authorized by general statute.

Land Grant– A legal file in i m sorry the federal government conveys land location to one individual.

Leasehold Improvements– items of personal property associated with a tenant that have been affixed to the real building owned by a lessor.

Legal Description– Written summary of a residential property that offer to identify the parcel for all functions of law.

Legatee– One who receives a gift through testatment.

Legitime–The compelled portion.

Lessee– The tenant. Lessor – The landlord.

Lein– A legitimate claim; privilege.

Levy– The total amount that money to be increased from the home tax as collection forth in the budget plan of a taxing jurisdiction.

Lien– The legal right to take or hold property that a debtor as payment or defense for a debt.

Link– A land measure up of 7.92 inches.

Lis Pendens– A an alert of a pending suit.

Major– Of legit age.

Market Value– The many probable price which a residential property should bring in a competitive and also open market under all problems requisite to a fair sale.

Mass Appraisal– The procedure of valuing a team of properties together of a provided date, using conventional methods, employing usual data, and permitting for statistics testing.

Meander Line– A traverse the a body of water because that the function of determining the size and also location that the human body of water. They carry out not represent the border line unless specifically declared in conveyance together such.

Merger– Union of 2 or an ext entities.

Metes and also Bounds– measure of angles and also distances of a property supplied as a legit description.

Mill– One mill is one-thousandth of one dissension or one-tenth that one cent.

Millage– A tax price expressed as mills every dollar.

Mineral Rights– The appropriate to extract ore, petroleum, or various other minerals indigenous a property.

Minor– A human being under 18 year of age who has actually not to be emancipated.

Minute– One sixtieth the a level of the circumference of a circle.

Misdescription– an error in the composed legal description of a property.

Monument– Tangible landmarks describe boundaries.

More or Less– used in the connection with quantity and also distance whereby the exact amount is uncertain.

Mortgage– A providing of a privilege or lien on a movable or immovable property.

Mortgage Records– The documents kept by the clerk of court listing every one of the mortgages tape-recorded within a jurisdiction.

Mortis Causa– A donation offered in contemplation that death.

Movables– an individual property.

Neighborhood– A geographic area wherein the properties are homogeneous and also share essential locational characteristics.

Onerious Donation– A donation given after the power of a regulation condition.

Ordinance– A statute or regulation that designates an it spreads widespread by a county’s or municipal corporation’s legislative branch body.

Parcel– A contiguous area of land defined in a solitary legal description or as one of a number of lots on a plat.

Parcel identification Number (PIN)– A numeric or alphanumeric description of a parcel the identifies the uniquely.

Partition– An tool in which residential property is divided between two or more owners.

Personal residential or commercial property (Intangible) –

Personal residential property (Tangible)– any kind of property the is movable and can it is in relocated.

Petition that Monition– request made to a formal court ~ specified period of time to worry clear location upon unredeemed building purchased through taxation sale.

Planimetric Map– Map showing features located upon property such as structures, roads, and also water features.

Plat– A map intended to display the department of land right into lots or parcels. Upon recordation through the suitable authorities, land consisted of in the plat deserve to thenceforth it is in legally defined by recommendation to the plat, omitting a metes and also bounds description.

Point of beginning (P.O.B.)–In a deed description, that is a reference point that defines the suggest at i m sorry a thoreau begins.

Possession– Physical regulate of an individual or real property.

Power of Attorney– A created authorization in which one person provides authority to another person come act on his or she behalf.

Prescription– to expire by the passage of time; statute of limitations.

Probate– To open up a succession in which a will is left, and the presentation of the will certainly to a judge for adjudication.

Property Settlement– judgment rendering the partition that the heritage of a divorce couple.

Public soil Survey system (PLSS)– A rectangle-shaped survey system created in the United states by the land Ordinance the 1785, consist of of departments into township and ranges.

Quarter-Quarter– A subdivision of a section containing 40 acres, also known together a forty.

Quarter Section– A subdivision of a section containing 160 acres.

Quitclaim Deed– A deed in which the grantor conveys or relinquishes all interests the he or she may have in a property, without warrant regarding the level or validity of together interests.

Quiet Title– An action at regulation to remove an adverse insurance claim or cloud top top the location of the property.

Range– among the north-south rows of townships in a U. S. Public soil Survey.

Ratio Study– A examine of the relationship in between appraised or assessed values and market values.

Real Property– The soil plus something permanently attached come the floor or legally identified as immovable; real estate; realty.

Reassessment– The revaluation of all property, or all property of a provided class, in ~ an assessment ar by stimulate of one authorized body.

Recordation– record an instrument because that public document with the clerk of court of a jurisdiction.

Redemption– The procedure by i m sorry the owner of home sold in ~ a taxation sale buys ago the building from the purchaser in ~ an magnified price within a specified redemption period.

Register Number- describes the registered conveyance number in i m sorry an tool is filed in the office that the salesman of court.

Relief– The sport in elevation between the high and low parts of a surface.

Rendition– A declaration report it is registered by the owner the property.

Reservation– A best or privilege booked by the grantor of property.

Residential Property– home that consists of two or much more living units.

Restriction– A defined limitation on usage of a property.

Revaluation– A reappraisal of property.

Reversion– The return of building to a grantor in a deed should restrictions be violated or the term of the conveyance ends.

Revocable Trust– A trust in i beg your pardon the grantor of the property hosted in to trust retains the appropriate to repossess the legal and also equitable rights.

Right-of-Way– an easement consisting of a right of passage over or v property.

Riparian Rights– The right that an owner of land bordering ~ above a river has actually in the water flow in the river, under the land, its banks, or that bed.

Rod– A land measure of 16-1/2 feet; also called a pole.

Scale– The reduction proportion that characterizes a details map.

Second– One sixtieth the a minute the the circumference of a circle.

Section– A unit of land roughly one mile square and also normally containing 640 acres, as laid the end by the federal government survey.

Separate Property– That part of the property owned through the husband or wife which is no considered ar property.

Servitude– The right of use or enjoyment of land belonging to another; easement.

Sheriff Sale– Judicial revenue of property to meet a lien or mortgage.

Situs– The ar of a residential property for purposes of taxation.

Spatial– describes the ar of, proximity to, or orientation the objects with respect come one another.

Split– A result of a department or revenue of property hosted by a solitary owner right into multiple parcels.

Square Foot– A unit the area equal to a square one foot in size on each side.

Subdivision– A tract of floor that has actually been divided into marketable structure lots and such public and also private methods as are compelled for access to those lots, and that is covered by a taped plat.

Subdivision Plat– A plat showing the ar of a subdivision and its layout right into lots, streets, alleys, and the like.

Subject Property– The property being appraised.

Succession– The pass of residential property by inheritance or will.

Tax District– any kind of political subdivision having actually or working out the strength to levying taxes.

Tax freed Property– Property totally excluded from taxation since of its form or use.

Tax Rate– The lot of tax stated in regards to a unit of the tax base, for example, 30 mills per dollar.

Tax Roll– An main list mirroring the quantity of taxes charged versus each taxpayer and/or each home within the jurisdiction the a tax district.

Tax Sale– revenue of a taxpayer’s residential or commercial property by public authority for non-payment that delinquent taxes.

Taxable Value– The appraised value minus all applicable partial exemptions, of i m sorry the residential property taxes space levied.

Tenant– One who holds or possesses a property.

Testament– A written instrument through which a person disposes the his estate to take result upon his death; a will.

Testator/Testatrix– A human who leaves a will.

Thread– A line midway between the side lines, such together midway in between the financial institutions of a stream.

Title– The union the all elements constituting evidence of residential property ownership or the instrument that is evidence of ownership.

Title Search– An check of public records to ensure the quality of the seller’s location to a property.

Topographic Map– A map showing the horizontal and also vertical locations of natural and artificial features; key map.

Township– An approximately thirty-six mile department of land supplied in the Federal rectangular Survey System.

Township Plat– A plat of survey of a township prepared by, or under the direction of, the joined States basic Land Office.

Transfer– The plot of transforming the property of property on the assessment rolls.

Trust Deed– an agreement through which the owner of building transfers legal location to a second party, such property to be held, managed, or disposed of because that the advantage of a 3rd party, as collection forth in the agreement.

Trustee– One that holds legal location to residential or commercial property under a trust agreement.

Tutor/Tutrix– A guardian that a minor.

Undivided Interest– An attention in a residential or commercial property that is not distinctive from the attention of other owners the the property.

Universal Legatee– A human being who receives every one of the residential or commercial property of the testator.

Unrecorded– A deed, etc., which has actually not been filed because that public document in the office the the salesperson of court.

Use Value– Property entirely used for a particular purpose or usage that entitles the residential property to it is in assessed in ~ a various level than others in the jurisdiction.

Usufruct– The right to enjoy and receive the services from residential or commercial property without the power to impair or alienate the property.

Usufructuary– The human who has actually or is granted the usufruct of property.

Vendee– One who purchases; buyer.

Vendor– One who transfers residential or commercial property by sale; seller.

Vendor’s Lien– an instrument conveying immovable home on credit terms; credit deed.

Volume Reference- refers to the conveyance book and page number in which an tool is filed in the office the the clerk of court.

Warranty Deed– A deed include a agreement of warranty through which the grantor promises that the title the is being transferred is cost-free from defects.

Will– A composed instrument by which a human being disposes the his estate come take impact upon his death; testament.

Witness– to attest.

Zoning– The exercise of the police power to restrict soil owners as to the usage of their land and/or type, size, and also location of structures to be put up thereon.

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ACKNOWLEDGMENTS

Definitions included in the over glossary to be complied native the adhering to publications:

Glossary for residential or commercial property Appraisal and AssessmentInternational combination of Assessing OfficersPrinciples and also Techniques the Cadastral MappingIAAO Reference hand-operated of course 600Black’s regulation Dictionary, fifth EditionWest posting Co.Louisiana Notarial Handbook & study Guideby Sydney Horn