Words, Phrases & Definitions



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S

Sale and Leaseback - A transaction in which a grantee in a deed leases the same property back to the grantor without a change in its possession.

Sales Contract - An agreement entered into for the sale and purchase of property.

Sans - Without.

Satisfaction - The performance of the terms of an obligation.

Scilicet - To-wit, that is to say; namely, abbreviated as "ss."

Seal - An impression on a document lending authenticity to its execution.

Searcher - A title company employee who assembles the links required to complete a chain of title to real property.

Section - A measure of land one square mile containing 640 acres.

Security - Collateral; property pledged or hypothecated to secure performance of an obligation.

Security Deposit - Deposit of money made to assure performance of an obligation.

Seisin - The possession of land under a claim of freehold.

Seriatim - In succession.

Servient Tenement - The estate burdened by an easement.

Servitude - A right in another's property in the nature of an easement.

Settlor - One who creates a trust.

Severalty Ownership - Ownership of property by one person sole ownership.

Sheriff's Deed - Conveyance of title to a debtor's property as a consequence of an execution sale.

Sine Qua Non - Without which not. An indispensable requisite.

Situs - The location of property.

Slander of Title - False unjustified statements regarding another person's title to property.

Soldiers' and Sailors' Civil Relief Act - Federal law designed to protect members of the armed forces from loss of property in satisfaction of obligations incurred before entry into the service. [See also California's Military Reservist Relief Act of 1991].

Special Assessments - Charges imposed upon real property especially benefited by a local public improvement.

Specific Performance Action - A form of action seeking the execution of documentation relating to real property.

Stare Decisis - The legal doctrine that past decisions of courts stand as precedents for future decisions.

Statement of Information - A brief statement of facts relied on by title insurers to assist in the proper identification of persons.

Status - The legal position of an individual; i.e., adult, minor, etc.

Statute of Frauds - A series of statutes designed for the purpose of preventing fraud. For example, in order to be enforceable, an agreement for sale of real property must be in writing.

Statute of Limitations - A series of statutes designed to render unenforceable stale claims and rights.

Stirps - Stock, race, family. The person from whom a family descends.

Stop Notice - A notice given a construction lender by an unpaid contributor to a work of improvement for the purpose of intercepting loan funds.

Straight Note - A promissory note calling for payment of principal in one sum rather than in installments.

Subdivision - The division of a tract of land into separate parcels.

Subject To - The recognition of an existing lien or encumbrance but not assuming personal liability therefor.

Sublease - A lease executed by a tenant for a term less than the leasehold.

Subordinate - To make inferior in priority.

Subordination Agreement - An agreement changing the priority of interests.

Subrogate - To substitute one person in place of another with reference to an obligation.

Substitution - The appointment of a person to act in the place and stead of another.

Summons - A court's direction to the sheriff to inform a defendant that an action has been filed against him/her.

Surety - One who guarantees the performance of an obligation by another.

Survey - A process of measuring a parcel of land and ascertaining its area and boundaries.

Syndicate - A pooling arrangement or association of persons investing in real property by buying shares in an organization.

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