Real Estate WOTD: Alienation
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Today’s Word Brought To You By David Matney, Nebraska Realty.
Meaning of "Alienation" in Real Estate
In real estate, alienation refers to the transfer of ownership or an interest in a property from one party to another. This transfer can occur voluntarily (such as through a sale or gift) or involuntarily (such as through foreclosure or eminent domain).
Origins
The term "alienation" originates from the Latin word alienare, meaning "to transfer" or "to make another's." Historically, it was used in legal contexts to describe the act of transferring ownership or property rights.
A Couple of Example Sentences
Voluntary Alienation:
"The property was transferred to the buyer through voluntary alienation when the seller signed the deed."
Involuntary Alienation:
"Foreclosure is a form of involuntary alienation, where the lender reclaims ownership due to the borrower's default."
Legal Use:
"The alienation clause in the mortgage prevents the property from being transferred without paying off the loan balance."
Alienation is a critical concept in property law, encapsulating the various ways property rights can change hands.
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