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ACCESS A general or specific right of ingress and egress to a particular property. FINDER'S FEE A fee paid to someone for producing a buyer to purchase or a seller to list property; also called a referral fee. FREE AND CLEAR TITLE Title to real property which is absolute and unencumbered by any liens, mortgages, clouds or other encumbrances. FINANCE CHARGE The total of all costs imposed directly or indirectly by the creditor and payable either directly or indirectly by the customer, as defined under the federal Truth-in-Lending Law. RECORDING The act of entering documents concerning title to a property into the public records. LAND TRUST An association organized by common owners of real property, which holds title to the real property in the name of one or more trustees for the benefit of the owners, whose beneficial interests may be represented by trust certificates. TENANCY AT SUFFERANCE A tenancy which exists when a tenant wrongfully holds over after the expiration of a lease, without the landlord's consent, as where the tenant fails to surrender possession after termination of the lease. |
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