Delay or negligence in asserting one's legal rights.

A contract ordinarily used in connection with the sale of property in cases where the seller does not wish to convey title until all or a certain part of the purchase price it paid by the buyer; often used when property is sold on a small downpayment.

A person or company who owns property that they allow other people to live in, in exchange for monthly rent.

The Land Registration Authority, also referred to as the Registry of Deeds, is an agency of the Department of Justice and, as the name suggests, is in charge of the registration of all real estate titles. All titles all over the Philippines are kept in the LRA, and the government agency has several locations in the country. Because of the rampant proliferation of fake titles, the LRA is in charge of protecting the authentic titles, and in detecting the fake ones. “E-titles” are already available at the LRA, but it is best to check with your local office if they have a hard copy of your deed available.

A phrase used in the early English law to express all sorts of property of the immovable class. Its present use may be said to express real estate with all fixed improvement thereon, if any.

A land trust is a legal entity that takes ownership of, or authority over, a piece of property at the behest of the property owner.

Land value is the value of a piece of property, including both the value of the land itself as well as any improvements that have been made to the property over time.

The legally binding contract that governs the circumstances in which a landlord will rent their property to a tenant. A contract between an owner and a tenant, setting forth conditions upon which the tenant may occupy and use the property and the term of the occupancy.

A way of holding title to a property wherein the mortgagor does not actually own the property but rather has a recorded long-term lease on it. A contract between an owner and a tenant that specifies the conditions upon which the tenant may occupy and use the property and the term of the occupancy.

A lease option is an agreement that gives a renter a choice to purchase the rented property during or at the end of the rental period.