Feudal System at Real Estate Glossary

What is it? A system of ownership usually associated with precolonial England, in which the king or other sovereign is the source of all rights. The right to possess real property was granted by the sovereign to an individual as a life estate only. Upon the death of

Real Estate Definition Added By: Xavier

Send To Friends!

If you'd like to send the Feudal System definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -

We hope you now understand the meaning of Feudal System. If you need any more information on this term, please don't hesitate to contact us.

Other Similar Real Estate Terms:

Real Estate Term Right Of Prior Appropriation is A water rights concept in California and other states that the first user of riparian water obtains priority over subsequent users. (See water rights)

Real Estate Term The 72-hour clause is When a buyer has a house to sell before they can purchase another home, most sellers insist on a 72-hour clause. In the event of a better offer coming in before the contingency is settled, this clause entitles the seller to give the buyer 72 hours to remove the contingency or lose the house.

Real Estate Term Payment cap is A legal limit on the amount a monthly payment can increase on an adjustable-rate mortgage.

Real Estate Term Escheat is The reversion of property to the state or county, as provided by state law, in cases where a decedent dies intestate and there are no heirs capable of inheriting or when the property is abandoned. In some states, bank accounts that are unused for more tha

Real Estate Term Impounds is A portion of the monthly mortgage payment that is placed in an account and used to pay for hazard insurance, property taxes and private mortgage insurance.