Immovable Property
It is land or any permanent feature or structure above or below the surface.
Income Property
Property used to generate income from residential or commercial rentals including profits attributable to real estate other than rent.
Indian Stamp Act, 1899
A legal statute, which provides for the payment of Stamp Duty in case of all real estate transactions as duty to the local government.
Inheritance
The tradition of passing on property, titles, debts and obligations upon the death of an individual.
Instrument
A legal document in writing to create, alter, modify or terminate a right.
Inter vivose
Inter vivos is from Latin, "between lives". Inter vivos is used to describe gifts between people, usually from one generation to the next, which are like bequests/legacy except that both parties are alive.
Intestate death
Refers to a condition when a person dies without leaving any will for inheritance of his property and assets.
Intestate Succession
Succession of a property to the heirs when a person dies without a will.
Institutional Investors
These generally include banks, pension funds, insurance companies, unit trusts and investment trusts, which are together commonly referred to in the investment field as the "institutions".
Injunction
A legal action whereby a court issues a writ that forbids one or more parties to a suit or proceeding from doing an act which is deemed to be inequitable or unjust in regard to the rights of some other party or parties to the suit.
Implied
Not expressed in writing; presumed or inferred.
Implied Authority
The authority of an Agent to perform acts which need to be carried out to accomplish the purpose of the Agency.
Investment
Money put in property or other ventures with a profit motive with sufficient security to return and protect the capital. It excludes speculation.
Incompetent
One who is mentally incompetent, incapable; and by reason of old age, disease, weakness of mind, or any other cause, unable to manage and take care of himself or his property.
Indenture
It is a deed between two or more parties, each party having his own copy.
Improvements
The term typically refers to the improvements made to or inside a building.
Installment Note
A note which provides that payments of a certain sum or amount have to be paid on the dates specified in the instrument.