SALE AND LEASE BACK. A contract wherein the buyer of a property agrees to lease the ame property to the seller.
SATISFACTION, The discharge of a mortgage or a trust deed lien from the records upon payment of the evidenced debt.
SEAL.An impression made to attest the execution of an instrument.
SETBACK. The distance from a curb or other established line, within which no building may be erected.
SEVERALTY OWNERSHIP. Individual ownership of real estate.
SHERIFFS DEED. A deed given bv court order in connection with the sale of property to satisfy a judgment.
SKY LEASE. The lease of air space above the realty.
SPECIAL ASSESSMENT. A legal charge against real estate by public authority to pay the cost of public improvements, such as street lights, street improvements, etc.
SPECIFIC PERFORMANCE. A remedy in court compelling die defendant to carry out the terms of the agreement or contract which was executed
STATUTE OF FRAUDS. A state law which requires certain contracts to be in writing in order to be enforceable at law, among them, a real property lease for more than one year or an agent’s authorization to sell real estate.
SUBLETTING. The leasing by the tenant to another person who holds under him.
SUBORDINATION CLAUSE. A clause in a junior or a second lien permitting retention of priority for prior liens, or may also be used in a first deed of trust permitting it to be subordinated to subsequent liens.
SUBPOENA. A process to cause a witness to appear and give testimony in court.
SURETY. One who guarantees the performance of another, A guarantor.
SURRENDER.The cancellation of a lease by the mutual consent of die lessor and the lessee.
SURVEY. The ascertainment of the measurements and area of land.
