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CONDOMINIUM A form of property ownership in which the homeowner holds title to an individual dwelling unit and a proportionate interest in common areas and facilities of a multi-unit project. COLOR OF TITLE A condition which has the appearance of good title, but which in fact is not valid title, as where title is founded on some written document which on its face appears valid and effective, but which is actually invalid. REAL PROPERTY All land and appurtenances to land, including buildings, structures, fixtures, fences, and improvements erected upon or affixed to the same; excluding, however, growing crops. NONCONFORMING USE A permitted use which was lawfully established and maintained but which no longer conforms to the current use regulations because of a change in the zoning. WAIVER Voluntary relinquishment or surrender of some right or privilege. PERMANENT FINANCING A long-term loan, as opposed to an interim loan. QUIET ENJOYMENT The right of a new owner or a lessee legally in possession to uninterrupted use of the property without interference from the former owner, lessor or any third party claiming superior title. |
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