A deposit made by the potential home buyer to show that he or she is serious about buying the house. A right of way giving persons other than the owner access to or over a property. An appraiser's estimate of the physical condition of a building. The actual age of a building may be shorter or longer than its effective age. The right of a government to take private property for public use upon payment of its fair market value.
Eminent domain is the basis for condemnation proceedings.
An improvement that intrudes illegally on another's property. Anything that affects or limits the fee simple title to a property, such as mortgages, leases, easements, or restrictions. A federal law that requires lenders and other creditors to make credit equally available without discrimination based on race, color, religion, national origin, age, sex, marital status, or receipt of income from public assistance programs. A homeowner's financial interest in a property. Equity is the difference between the fair market value of the property and the amount still owed on its mortgage and other liens.