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
Person leaving from work to spend time in leisure activities. pay in full the balance on a debt either at or before the maturity date. Penalties may be assessed on prepaying a mortgage. ...
Contract to act on the behalf of a principal in selling real estate. The principal agrees to pay a commission to the broker when a buyer is produced who is ready, willing, and able to meet ...
Also called investment property. Real property held by a business for investment potential or in order to earn income by leasing or letting it, rather than for its own use. ...
Market analysis method where sales of similar properties in proximity neighborhoods are compared. The comparable sales methodology is extremely useful if the properties being compared are ...
person's behavior partly genetic and partly learned through experience over time. Some people have good personal traits while others have poor ones. ...
Created by the US Congress in 1965, the Department of Housing and Urban Development (HUD) is the agency principally responsible for federal programs relating to housing and urban ...
Commitment by a lender to a borrower for a given amount of money at specified terms for the financing of a project. The borrower pays a fee for the privilege of either executing the loan or ...
Nonrefundable fee to pay for the painting and cleaning of an apartment or office unit after a tenant vacates the premises. ...
Day the attachment of property under a judicial order becomes effective. ...
Have a question or comment?
We're here to help.