GLOSSARY OF TERMS


Click on the real estate term that you want the definition for. it will open into a new window.

ABANDONMENT.
ABATEMENT.
ABSORPTION RATE.
ABSTRACT OF TITLE.
ACCELERATION CLAUSE .
ACCEPTANCE .
ACCESS .
ACCRETION .
ACCRUED .
ACKNOWLEDGEMENT .
ACRE .
AD VALOREM .
ADHESION CONTRACT .
ADVERSE POSSESSION .
AFFIDAVIT .
AGENCY .
AGENT.
AGREEMENT OF SALE .
AIR RIGHTS .
ALIENATION CLAUSE .
ALLODIAL SYSTEM .
AMENITIES .
AMORTIZATION .
ANCHOR TENANT .
ANNUAL PERCENTAGE RATE .
APPRAISAL .
APPRECIATION .
APPURTENANT .
ARBITRATION .
ASSESSED VALUATION .
ASSESSMENT .
ASSIGNMENT .
ASSUMPTION OF MORTGAGE .
ATTACHMENT .
ATTORNEY-IN-FACT .
ATTORNMENT .
BALLOON PAYMENT .
BARGAIN AND SALE DEED .
BASE LINE AND MERIDIAN .
BASIS .
BENCH MARK.
BENEFICIARY .
BILATERAL CONTRACT.
BILL OF SALE .
BLANKET MORTGAGE .
BLUE SKY LAWS .
BOOT .
BOUNDARIES.
BREACH OF CONTRACT .
BROKER .
BROKERAGE .
BUDGET MORTGAGE .
BUFFER ZONE .
BUILDING PERMIT .
BUILDING RESIDUAL TECHNIQUE .
BULK TRANSFERS .
BUNDLE OF RIGHTS .
BUSINESS DAYS .
BUSINESS OPPORTUNITIES .
CANTILEVER .
CAP RATE (CAPITALIZATION RATE) .
CAPITAL GAIN .
CAPITAL IMPROVEMENT .
CAPITALIZATION .
CERTIFICATE OF REASONABLE VALUE (CRV) .
CERTIFIED CHECK .
CERTIFIED PROPERTY MANAGER.
CHAIN OF TITLE .
CHATTEL .
CLEAR TITLE .
CLIENT TRUST ACCOUNT .
CLOSING .
CLOSING COSTS .
CLOSING STATEMENT .
CLOUD ON TITLE .
CLUSTER DEVELOPMENT .
CO-TENANCY .
CODE OF ETHICS .
COLLATERAL .
COLOR OF TITLE .
COMMERCIAL PROPERTY .
COMMINGLING .
COMMISSION .
COMMITMENT .
COMMON AREAS .
COMMON ELEMENTS .
COMMON LAW .
COMMON WALL .
COMMUNITY PROPERTY .
COMPARABLES .
COMPOUND INTEREST .
CONCESSIONS.
CONDEMNATION .
CONDOMINIUM OWNERSHIP .
CONSIDERATION .
CONSTRUCTIVE EVICTION .
CONSTRUCTIVE NOTICE .
CONTINGENCY .
CONTRACT .
CONVEYANCE .
COOPERATING BROKER .
COOPERATIVE OWNERSHIP .
COUNTER-OFFER .
COURTESY TO BROKERS .
COVENANT .
COVENANTS AND CONDITIONS .
COVENANTS RUNNING WITH THE LAND .
CUL DE SAC .
CUSTOMER TRUST FUND (CTF) .
DEALER .
DEBT SERVICE .
DECLARATION OF RESTRICTIONS .
DEDICATION .
DEED .
DEED OF TRUST .
DEFAULT .
DEFERRED COMMISSIONS .
DEFICIENCY JUDGEMENT .
DENSITY .
DEPOSIT .
DEPRECIATION (APPRAISAL) .
DEPRECIATION (TAX) .
DEPTH TABLE .
DESCENT .
DESCRIPTION .
DEVELOPER .
DEVISE .
DISCLAIMER .
DISCOUNT POINTS .
DISCRIMINATION .
DISTRAINT .
DOMICILE .
DOUBLE ESCROW .
DOWER .
DUAL AGENCY .
DUE ON SALE CLAUSE .
DUPLEX .
DURESS .
EASEMENT .
EASEMENT IN GROSS .
EMBLEMENTS .
EMINENT DOMAIN .
ENCROACHMENT .
ENCUMBRANCE .
ENTIRETY, TENANCY BY .
ENVIRONMENTAL IMPACT STATEMENT .
EQUITY .
ERRORS AND OMISSIONS INSURANCE .
ESCHEAT .
ESCROW .
ESTOPPEL .
ETHICS .
EVICTION .
EXCHANGE .
EXCLUSIVE AGENCY .
EXCLUSIVE LISTING .
EXECUTIVE .
EXECUTOR .
EXECUTORY CONTRACT .
EXTENDER CLAUSE .
EXTENSION .
FAIR MARKET VALUE .
FARM AREA .
FEASIBILITY STUDY .
FEDERAL HOUSING ADMINISTRATION (FHA) .
FEDERAL TAX LIEN .
FEDERAL TRADE COMMISSION (FTC) .
FEE SIMPLE .
FIDUCIARY .
FILLED LAND .
FINANCE CHARGE .
FINANCE FEE .
FINANCIAL STATEMENT .
FINDER'S FEE .
FIRM COMMITMENT .
FIRST REFUSAL, RIGHT OF .
FISCAL YEAR .
FIXTURE .
FLAG LOT .
FLOOR AREA RATIO .
FLOOR DUTY .
FORECLOSURE .
FRAUD .
FREE AND CLEAR TITLE .
FRONTAGE .
FUNCTIONAL OBSOLESCENCE .
GARNISHMENT .
GENERAL AGENT .
GENERAL CONTRACTOR .
GIFT TAX .
GOOD FAITH .
GOOD WILL .
GOVERNMENT SURVEY .
GRADUATED RENTAL LEASE .
GRANDFATHER CLAUSE .
GRANTEE .
GRANTOR .
GROSS AREA .
GROSS INCOME MULTIPLIER .
GROSS LEASE .
GUARDIAN .
HABENDUM CLAUSE .
HABITABLE .
HEIR .
HIGH RISE .
HIGHEST AND BEST USE .
HOLD HARMLESS CLAUSE .
HOLDOVER TENANT .
HOMEOWNER'S ASSOCIATION.
HOMESTEAD .
HOTEL .
HOUSE RULES .
HUD .
HYPOTHECATE .
IMPLIED WARRANTY OF HABITABILITY .
IMPOUND ACCOUNT .
IMPROVED LAND .
IMPROVEMENTS .
IMPUTED INTEREST .
INCOME APPROACH .
INCOME PROPERTY .
INCORPOREAL RIGHTS .
INDEPENDENT CONTRACTOR .
INDUSTRIAL PARK .
INJUNCTION .
INNOCENT PURCHASER FOR VALUE .
INSPECTION .
INSTITUTIONAL LENDER .
INTEREST .
INTERIM FINANCING .
INTESTATE .
INVENTORY .
INVERSE CONDEMNATION .
JOINT AND SEVERAL LIABILITY .
JOINT TENANCY .
JOINT VENTURE .
JUDGMENT LIEN .
JUDICIAL FORECLOSURE .
JUNIOR MORTGAGE .
JURISDICTION .
JUST COMPENSATION .
LAND .
LAND CONTRACT .
LAND DESCRIPTION .
LAND LEASEBACK .
LAND TRUST .
LAND, TENEMENTS AND HEREDITAMENTS .
LANDLOCKED .
LANDLORD .
LANDMARK .
LANDSCAPING .
LATERAL AND SUBJACENT SUPPORT .
LAW DAY .
LEASE .
LEASEHOLD .
LEGAL DESCRIPTION .
LEGAL NOTICE .
LEGAL RATE OF INTEREST .
LESS-THAN-FREEHOLD ESTATE .
LESSEE .
LESSOR .
LETTER OF CREDIT .
LETTER OF INTENT .
LEVEL PAYMENT MORTGAGE .
LEVERAGE .
LICENSEE .
LIEN .
LIFE ESTATE .
LIMITED COMMON ELEMENTS .
LIMITED PARTNERSHIP .
LIMITED PARTNERSHIP .
LINE OF CREDIT .
LIQUIDATED DAMAGES .
LIQUIDITY .
LIS PENDENS .
LISTING .
LITTORAL LAND .
LOAN COMMITMENT .
LOAN-TO-VALUE RATIO .
LOCUS SIGILLI .
LOSS PAYEE .
MAINTENANCE .
MALL .
MARGINAL LAND .
MARKET VALUE .
MARKETABLE TITLE .
MASTER PLAN .
MEANDER LINE .
MECHANIC'S LIEN .
METES AND BOUNDS .
MILITARY CLAUSE .
MINERAL RIGHTS .
MISREPRESENTATION .
MONEY .
MONTH-TO-MONTH TENANCY .
MONUMENTS .
MORTGAGE .
MORTGAGE BANKER .
MORTGAGE BROKER .
MORTGAGEE .
MORTGAGOR .
MULTIPLE LISTING SERVICE (MLS) .
NATIONAL ASSOCIATION OF REALTORS.
NEGATIVE CASH FLOW .
NEGOTIABLE INSTRUMENT .
NEGOTIATION .
NET INCOME .
NET LEASE .
NET WORTH .
NOMINAL CONSIDERATION .
NON-COMPETITION CLAUSE.
NON-COMPETITION CLAUSE .
NONCONFORMING USE .
NONDISTURBANCE CLAUSE .
NORMAL WEAR AND TEAR .
NOTE .
NOTICE .
NOTICE OF COMPLETION .
NOTICE OF DEFAULT .
NOTICE OF NONRESPONSIBILITY .
NOTICE TO QUIT .
NOVATION .
NUISANCE .
NULL AND VOID .
OBSOLESCENCE .
OFFER .
OFFER AND ACCEPTANCE .
OFFICE EXCLUSIVE .
OFFSITE COSTS .
OPEN HOUSE .
OPEN LISTING .
OPEN SPACE .
OPEN-END MORTGAGE .
OPERATING EXPENSES .
OPINION OF TITLE .
OPTION .
ORIGINATION FEE .
OVERIMPROVEMENT .
OVERRIDE .
PACKAGE MORTGAGE .
PARCEL .
PARTIAL RELEASE .
PARTICIPATION MORTGAGE.
PARTITION .
PARTNERSHIP .
PARTY WALL .
PENTHOUSE .
PERCENTAGE LEASE .
PERCOLATION TEST .
PERFORMANCE BOND .
PERIODIC TENANCY .
PERMANENT FINANCING .
PERSONAL PROPERTY .
PIGGYBACK LOAN .
PLANNED UNIT DEVELOPMENT (PUD) .
PLAT .
PLOTTAGE .
POCKET LISTING .
POINT OF BEGINNING .
POINTS .
POLICE POWER .
PORTE COCHERE .
POSSESSION .
POWER OF ATTORNEY .
PREMISES .
PREPAID INTEREST .
PREPAYMENT PENALTY .
PREPAYMENT PRIVILEGE .
PRESCRIPTION .
PRESENT VALUE OF ONE DOLLAR .
PRIME RATE .
PRINCIPAL .
PRINCIPAL BROKER .
PRIVATE MORTGAGE INSURANCE .
PRO FORMA STATEMENT .
PROBATE .
PROCURING CAUSE .
PROMISSORY NOTE .
PROPERTY .
PROPERTY MANAGEMENT .
PROPERTY REPORT .
PROPRIETARY LEASE .
PRORATE .
PROSPECT .
PROSPECTUS .
PUFFING .
PUNCH LIST .
PURCHASE MONEY MORTGAGE .
QUALIFIED FEE .
QUANTITY SURVEY .
QUIET ENJOYMENT .
QUIET TITLE ACTION .
QUITCLAIM DEED .
RANGE .
RATE OF RETURN .
RAW LAND .
REAL ESTATE .
REAL PROPERTY .
REALTOR .
REALTY .
REBATE .
RECAPTURE CLAUSE .
RECEIVER .
RECORDING .
REDEMPTION, EQUITABLE RIGHT OF .
REDUCTION CERTIFICATE .
REFINANCE .
REFORMATION .
RELEASE .
RELEASE CLAUSE .
REMAINDER ESTATE .
RENEWAL OPTION.
RENT .
RENT CONTROL .
RENTAL AGREEMENT .
RENTAL POOL .
REPRODUCTION COST .
RESCISSION .
RESERVE FUND .
RESIDUAL PROCESS .
RESTRICTIONS .
RESTRICTIVE COVENANT .
RETALIATORY EVICTION .
REVERSION .
RIGHT OF SURVIVORSHIP .
RIGHT-OF-WAY .
RIPARIAN .
RISK OF LOSS .
RUNNING WITH THE LAND .
SALE AND LEASEBACK .
SCHEMATICS .
SECOND MORTGAGE .
SECONDARY MORTGAGE MARKET.
SECURITY AGREEMENT .
SECURITY DEPOSIT .
SEPTIC TANK .
SETBACK .
SETTLEMENT .
SEVERALTY .
SHELL LEASE .
SHOPPING CENTER .
SHORELINE .
SPECIAL ASSESSMENT .
SPECIAL WARRANTY DEED .
SPECIFIC PERFORMANCE .
SPOT LOAN .
STANDING LOAN .
STATUTE OF FRAUDS .
STATUTE OF LIMITATIONS .
STEP-UP LEASE .
STRAIGHT NOTE .
SUBJECT TO MORTGAGE .
SUBORDINATION AGREEMENT .
SUMMARY POSSESSION .
SURRENDER .
SURVEY .
SURVIVORSHIP .
TAKE-OUT FINANCING .
TAX LIEN .
TAX SHELTER .
TENANCY AT SUFFERANCE .
TENANCY AT WILL .
TENANCY BY THE ENTIRETY.
TENANCY FOR YEARS .
TENANCY IN COMMON .
TENANCY IN SEVERALTY .
TENANT .
TIME IS OF THE ESSENCE .
TIME SHARING .
TITLE INSURANCE .
TITLE SEARCH .
TOWNHOUSE .
TOWNSHIP .
TRADE FIXTURES .
TRIPLE NET LEASE .
TRUST DEED .
TRUST FUND ACCOUNT .
TURNKEY PROJECT .
UNILATERAL CONTRACT .
UPSET PRICE .
USEFUL LIFE .
USURY .
VACANCY FACTOR .
VALUE .
VARIANCE .
VENDEE.
VENDOR .
VOID .
VOIDABLE .
WAIVER .
WAREHOUSE .
WAREHOUSING .
WARRANTY .
WARRANTY DEED .
WASTE .
WEAR AND TEAR .
WRAP-AROUND MORTGAGE .
YEAR-TO-YEAR TENANCY .
YIELD .
ZONING .