Oconee County Real Estate
Real Estate Terms | S
Sales Agreement
See agreement of sale.
Seller's Market
More buyers than sellers.
Special Assessments
A special tax imposed on property, individual lots or
all property in the immediate area, for road construction,
sidewalks, sewers, street lights, etc.
Special Lien
A lien that binds a specified piece of property, unlike
a general lien, which is levied against all one's assets.
It creates a right to retain something of value belonging
to another person as compensation for labor, material,
or money expended in that person's behalf. In some localities
it is called "particular" lien or "specific" lien. (See
lien.)
Special Warranty Deed
A deed in which the grantor conveys title to the grantee
and agrees to protect the grantee against title defects
or claims asserted by the grantor and those persons
whose right to assert a claim against the title arose
during the period the grantor held title to the property.
In a special warranty deed the grantor guarantees to
the grantee that he has done nothing during the time
he held title to the property which has, or which might
in the future, impair the grantee's title.
State Stamps
See documentary stamps
Survey
A map or plat made by a licensed surveyor showing the
results of measuring the land with its elevations, improvements,
boundaries, and its relationship to surrounding tracts
of land. A survey is often required by the lender to
assure him that a building is actually sited on the
land according to its legal description.
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