Real Estate

  1. abandonment
    Voluntary surrender of a claim or right, such as when a Declaration of Abandonment terminates a homestead.
  2. abstract
    a brief sumary
  3. abstract of judgement
    A condensation of the essential provisions of a court judgment.
  4. abstract of title
    A summary or digest of the conveyances, transfers, and any other facts relied on as evidence of title, together with any other elements of record which may impair the title.
  5. acceleration clause
    Clause in trust deed or mortgage giving the lender the right to call all sums owing to be due and payable upon the happening of a certain event, such as the sale of the property or failure to pay property taxes.
  6. accession
    Acquiring title by having property added to your property.
  7. accretion
    An addition to land from natural causes as, for example, from gradual action of the ocean or river waters.
  8. accrued
    Accumulated up to this point in time.  Accrued interest, or accrued depreciation.
  9. accrued depreciation
    The difference between the cost of replacement new as of the date of the appraisal and the present appraised value.
  10. acknowledgment
    A formal declaration before a duly authorized officer by a person who has executed an instrument that such execution is his act and deed.
  11. acre
    43,560 square feet of land
  12. actual notice
    knowledge of the existence of a thing or fact
  13. ad velorem
    According to valuation.
  14. agency
    The relationship between principal and agent which arises out of a contract, either expressed or implied, written or oral, wherein the agent is employed by the principal to do certain acts dealing with a third party.
  15. agent
    One who represents another from whom he has derived authority.
  16. alienation
    The transferring of property to another; the transfer of property and possession of lands, or other things, from one person to another.
  17. alienation clause
    Clause in a loan document providing for full payment if property is sold.
  18. ALTA title policy
    (American Land Title Association)  A type of title  insurance policy issued by title insurance companies which expands the risks normally insured against under the standard type policy. It is a lender's policy
  19. amenities
    Satisfaction of enjoyable living to be derived from a home; conditions of agreeable living or a beneficial influence arising from the location or improvements.
  20. amortization
    The liquidation of a financial obligation on an installment basis; also, recovery, over a period, of cost or value.
  21. amortized loan
    A loan that is completely paid off, interest and principal, by a series of regular payments that are equal or nearly equal. Also called a level payments loan.
  22. anticipation
    A principle of appraisal which affirms that value is created by anticipated benefits to be derived in the future.
  23. appraisal
    An opinion of the value of a property, usually by a licensed or certified appraiser.
  24. appraiser
    One qualified by education, training and experience who is hired to estimate the value of real and personal property based on experience, judgment, facts, and use of formal appraisal processes.
  25. appurtunance
    Something annexed to another thing which may be transferred incident to it.  That which belongs to another thing, as a barn, dwelling, garage or orchard is incident to the land to which it is attached.
  26. assemblage
    Putting together two or more parcels to increase the total value.
  27. assessed value
    A value placed upon property by a public officer or board as basis for taxation.
  28. assessment
    The valuation of property for the purpose of levying a tax or the amount of the tax to be levied.
  29. assessor
    The official who has the responsibility of determining assessed values.
  30. assignee
    The one to whom property is transferred
  31. assignment
    A transfer or making over to another of the whole of any property, real or personal, in possession or in action, of any estate or right therein.
  32. assignor
    One who assigns or transfers property.
  33. assumption of mortgage
    The taking of title to property by a grantee, wherein he or she assumes liability for payment of an existing note secured by a mortgage or deed of trust against the property, becoming a co-guarantor for the payment of a mortgage or trust deed note.
  34. attachment
    Seizure of property by court order, usually done to have it available in the event that a judgment is obtained in a pending lawsuit.
  35. attorney in-fact
    One who is authorized to perform acts for another under a power of attorney;  power of attorney may be limited to a specific act or acts, or be general.
Card Set
Real Estate
real estate