![]() ![]() It merely discloses those items about the property which are of public record, and thus does not reveal such things as encroachments, forgeries, and the like.Īccelerated depreciation - A method of calculating the depreciation of certain property (that property which is used in a trade or business, or which is held for the production of income) at a faster rate than would be achieved from using the straight-line method of depreciation.Īcceleration clause - A clause in a promissory note, agreement of sale, or mortgage which gives the lender the right to call all sums due and payable in advance of the fixed payment date upon the occurrence of a specified event, such as a sale, default, assignment or further encumbrance of the property.Īcceptance - The expression of the intention of the person receiving an offer (offeree, usually the seller) to be bound by the terms of the offer.Īccess - A general or specific right ingress and egress to a particular property.Īccrued - That which has accumulated over a period of time such as accrued depreciation, accrued interest or accrued expenses.Īcknowledgment - A formal declaration made before a duly authorized officer, usually a Notary Public, by a person who has signed a document.Īcre - A measure of land equalling 43,560 square feet 4,840 square yards 160 square rods 0.405 hectares.Īctual age - The number of years which has elapsed since an original structure was built. The abstract of title does not guarantee or assure the validity of the title of the property. Abandonment - The voluntary surrender or relinquishment of possession of real property with the intention of terminating one's possession or interest, but without vesting this interest in any other person.Ībatement - A reduction or decrease in amount, degree, intensity or worth.Ībsorption bed - A leaching bed constructed on or above the existing terrain as part of a waste disposal system through the use of imported soil and/or special filters.Ībsorption rate - An estimate of the rate at which a particular classification of space - such as new office space, new housing, new condominium units and the like - will be sold or occupied each year.Ībstract Book - (also referenced as an Abstract Index) represents the central reference source within the Land Registry system.Ībstract of title - A concise, summarized history of the title to a specific parcel of real property, together with a statement of all liens and encumbrances affecting the property.
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