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chattel
chattel , in law, any property other than a freehold estate in land (see tenure ). A chattel is treated as personal property rather than real property regardless of whether it is movable or immovable (see property ). Certain uses of the term (e.g., chattel mortgage) refer only to movable property....
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sale
sale in law, transfer of ownership in return for money. An exchange of goods for goods is termed barter, but the distinction between sale and barter is mainly technical; laws that govern one govern the other equally. Sale and barter are distinguished from the giving of a gift , which involves no v...
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tenure
tenure in law, manner in which property in land is held. The nature of tenure has long been of great importance, both in law and in the broader economic and political context. Tenure has varied greatly from feudal to modern times; although the patterns of transition have been many, the essential na...
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collateral
collateral , something of value given or pledged as security for payment of a loan. Collateral consists usually of financial instruments, such as stocks, bonds, and negotiable paper, rather than physical goods, although the latter may also be accepted as such. In case of default, the creditor may se...
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mortgage
mortgage in law, device for protecting a creditor by giving him an interest in property of his debtor. In common law a mortgage was a conditional sale; i.e., the mortgagor (debtor) sold realty (real property mortgage) or personal property (chattel mortgage), but if the debtor paid the debt by a...
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land tax
land tax impost levied upon real property. It is sometimes called a real estate tax, especially when assessed against both improved and unimproved land. Probably the earliest direct tax and formerly the chief source of government revenue, it was known in ancient China and Egypt. Until modern times,...
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easement
easement in law, the right to use the land of another for a specified purpose, as distinguished from the right to possess that land. If the easement benefits the holder personally and is not associated with any land he owns, it is an easement in gross (e.g., a public utility's right to run power li...
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broker
broker one who acts as an intermediary in a sale or other business transaction between two parties. Such a person conducts individual transactions only, is given no general authority by the employers, discloses the names of the principals in the transaction to each other, and leaves to them the con...
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freehold
freehold An estate in land that is now usually held in fee simple. Land that is not freehold will be leasehold land....
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property
property rights to the enjoyment of things of economic value, whether the enjoyment is exclusive or shared, present or prospective. The rightful possession of such rights is called ownership. Ownership necessarily is supported by correlative rights to exclude others from enjoyment. By extension o...
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