Alienation
The definition of alienation in real estate stands for the legal action that is done voluntarily by an owner to dispose of their property. It also encompasses a property’s right to be sold or given to someone else. Most of the properties can be alienated but there are some that are under the influence of restraint of alienation.
The status or authority of a property to be alienated is specified in a contract in something that is called an alienation clause. Through an alienation clause, it can be stipulated whether or not a property can be sold or transferred to another owner. The alienation clause is the situation in which alienation as a concept is implemented through law. The term “alienation” has a long history but it is commonly used today in real estate contracts, mortgages, insurance policies, law, and wills.
The History of Alienation
In the old age of the feudal system in England, a system that was the beginning of modern-day alienation was known as subinfeudation. As the act of alienation today, subinfeudation required the license of the overlord, in other words, the blessing of the owner, for the property to be transferred and alienated to another.
And like nowadays, there are some items, objects or … let’s call them assets that can not be alienated. These assets are known as inalienable. Some examples of these are body parts, people, or aboriginal titles. Tickets or licenses also can not be given to someone else but they can be alienated in the sense that they are discarded, surrendered, or just disposed of.
Not to be confused with that 90’s movie/TV series “ Alien Nation”.
An alien is something foreign that does not belong to that place or person. So, in the real estate world, alienation is the voluntary and purposeful act of transferring an asset to a different party, making it no longer belonging to that person or place. Once an alienation is done, the titles of possession are transferred from one person to another.
Real Estate tips:
Don't let knowledge become a foreign concept to you! Search through our Glossary Terms and get up to speed with all these complex terms!
And once you're ready to play: find an agent and start putting that knowledge to work!
Popular Real Estate Terms
Permits oral evidence to augment a written contract in certain cases. ...
An Act, passed by congress in order to prevent the practice of redlining and disinvestments in central city areas. Redlining is a practice in which lenders refuse to make loans in certain ...
Illegally keeping or holding on to someone else's property. An example is a tenant staying in the apartment after the lease has expired. A court order may be sought to evict the tenant. ...
Study of real estate activities including demand, price, location influence, and current trends. ...
Amount charged for each unit of rental property. An example of a unit might be square footage of space or an apartment. ...
Light weight masonry block using cinders with a high metallic content as the major component. Cinder blocks are widely used in interior partitions. ...
A free-standing building having four dwelling units under one roof. Normally a quadriplex is a two-story complex with one dwelling unit located on top of and adjacent to another. Other ...
An opening that lets the outside air come in or out of a structure. A ventilation fan lets the structure have access to outside air when the switch is in open position. ...
Flat irregularly shaped stones, ranging from 1 to 4 inches thick, used for terrace or loan walkways. ...
Have a question or comment?
We're here to help.