An agreement by which an owner of real property (lessor) gives the right of possession
to another (lessee), for a specified period of time (term) and for a specified
A description of land recognized by law, based on government surveys, spelling
out the exact boundaries of the entire piece of land. It should so thoroughly
identify a parcel of land that it cannot be confused with any other.
Any person or entity advancing funds which are to be repaid. A general term
encompassing all mortgagees, and beneficiaries under deeds of trust.
An encumbrance against property for money, either voluntary or involuntary.
All liens are encumbrances but all encumbrances are not liens.