Sale and Lease Back
A situation in which the grantor in a deed to a parcel of property sells it and
retains possession by simultaneously leasing it from the grantee.
A careful examination of the public records in an effort to find all recorded
instruments relating to a particular chain of title.
One who settles upon unoccupied land without legal claim or authority. See Adverse
An agreement by which one encumbrance (for example, a mortgage) is made subject
to another encumbrance (for example, a mortgage) is made subject to another
encumbrance (perhaps a lease). To "subordinate" is to "make
subject to," or to make of lower priority.
Rights to enter upon and use the surface of a parcel of land, usually in connection
with an oil and gas lease or other mineral lease. They may be "implied" by
the language of the lease (no explicit reservation or exception of the surface
rights) or "explicitly" set forth.
The measurement by a surveyor of real property which delineates the boundaries
of a parcel of land. An ALTA survey additionally delineates the exact location
of all improvements, encroachments, easements and other matters affecting
the title to the property in question. A title insurance company may require
a survey whenever the company is requested to issue an ALTA Extended Coverage