D.H. RAMSEY LIBRARY

Housing Authority of the City of Asheville Records

TIGLOSSARY
 
North Carolina State Statute definitions [40 A-2] As used in this Chapter the following words and phrases have the meanings indicated unless the context clearly requires another meaning:
 
Condemnation means the procedure prescribed by law for exercising the power of eminent domain.
Condemnor means those listed in G.S. 40A‑3.
Eminent domain means the power to divest right, title or interest from the owner of property and vest it in the possessor of the power against the will of the owner upon the payment of just compensation for the right, title or interest divested.
Judge  means a resident judge of the superior court in the district where the cause is pending, or special judge residing in said district, or a judge of the superior court assigned to hold the courts of said district or an emergency  or special judge holding court in the county where the cause  is pending.
Owner includes the plural when appropriate and means any person having an interest or estate in the property.
   
Person includes the plural when appropriate and means a natural person, and any legal entity capable of owning or having interest in property
Property means any right, title, or interest in land, including leases and options to buy or sell. "Property" also  includes rights of access, rights‑of‑way, easements, water rights, air rights, and any other privilege or appurtenance in or to the possession, use, and enjoyment of land. (1981, c. 919, s. 1.)
   
   
   
ad valorum tax
"An ad valorem tax (Latin for according to value) is a tax based on the value of real estate or personal property. It is more common than the opposite, a specific duty, or a tax based on the quantity of an item regardless of price.

An ad valorem tax is typically imposed at the time of a transaction (a sales tax or value-added tax (VAT)), but it may be imposed on an annual basis (real or personal property tax) or in connection with another significant event (inheritance tax, surrendering citizenship, or tariffs)."  [Wikipedia, accessed 2009-10-16]

 
words of conveyance The statement that follows the statement of consideration in a deed to show the intent on the part of the grantor to transfer the property.
encumbrances  
inheritance tax  
lien

lienor

lienee
"...a form of security interest granted over an item of property to secure the payment of a debt or performance of some other obligation. The owner of the property, who grants the lien, is referred to as the lienor and the person who has the benefit of the lien is referred to as the lienee.

The etymological root is Anglo-French lien, loyen bond, restraint, from Latin ligamen, from ligare to bind.

In the United States, the term lien generally refers to a wide range of encumbrances and would include other forms of mortgage or charge. In the USA, a lien characteristically refers to non-possessory security interests (see generally: Security interest—categories). [Wikipedia, accessed 2009-10-16]

 
mortgage  
   
   
   
   
   
   
   
   
value-added tax (VAT))