Glossary

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There are 15 names in this directory beginning with the letter W.
Waiver
The voluntary relinquishment or sur_render of a right.
Warranty Deed
Deed that contains a covenant that the grantor will protect the grantee against any and all claims; usually contains covenants ensuring good title, freedom from encumbrances, and quiet enjoyment.
Warranty, Implied
In a sale or lease of prop_erty, a guarantee created by operation of law, whether or not the seller or landlord intended to offer it.
Waste
Destruction, damage, or material alteration of property by someone in possession who holds less than a fee estate (such as a life tenant or a lessee), or by a co-owner.
Water Rights
The right to use water from a body of water. See: Appropriation, Prior; Lit_toral Rights; Riparian Rights.
Water Table
The level at which water may be found, either at the surface or underground.
Will
A person's stipulation regarding how his or her estate should be disposed of after he or she dies. Also called a testament.
Will, Formal
A will that meets the statutory requirements for validity; as a general rule, it must be in writing and signed in the presence of at least two competent witnesses.
Will, Holographic
A will written entirely in the testator's handwriting, which may be valid in some states even if it was not witnessed. This type of will is not recognized in Minnesota.
Will, Nuncupative
An oral will made on the testator's deathbed; valid in some states (al_though not in Minnesota) as to bequests of per_sonal property worth under $1,000.
Without Recourse
Words used in endorsing a note to denote the note holder is not to look to the debtor personally in the event of nonpayment.
Words of Conveyance
The portion of a deed stating an intention to convey the property to the grantee. Also called a granting clause.
Wraparound Mortgage
Loan arrangement in which an existing loan is retained and an additional loan is made that equals or exceeds the existing loan.
Writ of Execution
A court order directing a public officer (such as the sheriff) to seize and sell property to satisfy a debt.
Writ of Possession
A court order issued after an unlawful detainer action, informing the ten_ant that he or she must vacate the landlord's property within a specified period or be forc_ibly removed by the sheriff.