Base lines, meridians, and townships are elements of which system of property description?1/27/2024 ![]() ![]() For example, a piece of land bordering on a street or an adjoining property is said to abut such street or property.ĪCCELERATION CLAUSE: Clause in a deed of trust or mortgage, which accelerates the time when the indebtedness becomes due. Often used synonymously with “searcher”.ĪBUT: To touch or border on. 2) The specific name of the 20 year Judgment lien filed on behalf of an Agency of the Federal Government.ĪBSTRACTOR or ABSTRACTER: A professional familiar with the filing systems and retrieval of recorded land documents, tax information, etc. When this summary or abstract is recorded in the county recorder’s office, in some states the judgment becomes a lien on the debtor’s property, both presently owned or after-acquired. Most often in form of a book.ĪBSTRACT OF JUDGMENT: 1) A summary of money judgment obtained in court. Usually applies to a decrease of assessed valuation of ad valorem taxes after the assessment, and levy.ĪBSTRACT or ABSTRACT OF TITLE: A condensed history or summary of all recorded documents affecting title to a particular tract of land. LAND TITLE INDUSTRY GLOSSARY and ACRONYMSĬonsulting and Education for the Land Title IndustryĪBANDONMENT: The voluntary relinquishment of rights of ownership or another interest such as easement by failure to use the property, coupled with an intent to give up the interest.ĪBATEMENT: A reduction or decrease.
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