Real Estate Law

noun a right of a government or its agent to expropriate private property for public use, with payment of compensation

• The government used eminent domain to acquire the land needed for the new highway project.
• They're talking about using eminent domain to take over that empty lot.
• They're gonna pull the eminent domain card to grab that property.
• In the world of business, sometimes taking risks is like exercising eminent domain over your comfort zone.

noun a legal or financial benefit that allows certain individuals or organizations to avoid paying taxes on specific income, property, or transactions

• The organization was granted tax exemption status due to its non-profit nature.
• My friend was excited to learn about the tax exemption for first-time homebuyers.
• I heard there's a sweet tax exemption deal for small businesses in the new law.
• His clever accounting tricks gave him a sort of tax exemption from his financial responsibilities.

noun A person or organization that has been given the responsibility to manage and oversee assets or property on behalf of others.

• The trustee is responsible for managing the assets of the trust on behalf of the beneficiaries.
• I heard that Jane was appointed as the trustee for her friend's estate.
• I don't trust that trustee as far as I can throw them.
• As a trustee of the environment, we must ensure we leave the planet in a better state for future generations.

noun the right to use and enjoy the profits and advantages of something belonging to another as long as the property is not damaged or altered in any way

• The usufruct of the property was granted to the tenant for a specified period of time.
• The landlord allowed the tenant to use the property for a while.
• The landlord let the tenant crash at the place for a bit.
• She had the usufruct of the company's resources to complete her project.

noun an official directive or command to take possession of something

• The landlord obtained a possession order from the court to evict the tenant.
• The landlord got a possession order to kick out the tenant.
• The landlord got the boot order to get rid of the tenant.
• The possession order was like a ticking time bomb, signaling the end of the tenant's stay.