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
A public officer given the right to authenticate a document, accept a person's oath, administer depositions, and to conduct other activities in commercial business. An official seal is used ...
Business entity providing water services in a particular locality. ...
Investments you can hold on to all your life or sell for a profit when they have appreciated in value. Real assets are those investments you can put hands on. Real property includes real ...
The English language is brilliant. However, words can often be misleading, as their meaning depends on context. Let's take, for instance, delivery. At first, the answer to the question: ...
Financing of a home based on how much equity the homeowner has in it. The interest rate is typically a variable one. ...
Through the homestead exemption definition, we understand the legal instrument that provides physical and financial shelter in dire situations. The homestead exemption legal provision can ...
To default on a loan means to intentionally or unintentionally miss several consecutive monthly payments over the course of a few weeks or months. Most borrowers learn the definition of ...
Provision in a commercial lease providing a financial allowance for a tenant to finish the interior of a building according to individual requirements. ...
Land that has poor income potential, usually used in an agricultural sense meaning that the land is untellable, has poor access, is extremely steep, has suffered serious erosion, is ...
Have a question or comment?
We're here to help.