Terms

Below is a comprehensive list of terms in real estate transactions that you should be aware of.

A).

Abandonment

Abstract of Title

Abutting

Accelerated Depreciation

Acceleration Clause

Accession

Accretion

Accrued Depreciation

Acknowledgment

Actual Notice

Ad Valorem Tax

Adverse Possession

Affidavit

Air Lot

Air Rights

Alienation Clause

Alienation

Alluvion

Amendments

Amenities

Americans with Disabilities Act (ADA)

Anticipation

Antitrust Laws

Appurtenant

Arbitrage

Arbitration

Assignment

Assumed Name Statute

Attorney-in-Fact

Attorney’s Opinion of Title

Avulsion

1031 Exchange

Administrator’s Deed

Appreciation

Adjustable-Rate Mortgage (ARM)

Alta

Amortization

Assessed Value

Assumable Mortgage

Appraisal

B).

Balloon Mortgage

Buyers Agent

Building Code

Blind Offer

Buydown

Bargain and Sale Deed

Base Fee

Base Line

Benchmark

Beneficiary

Bilateral Contract

Bill of Sale

Binder

Blanket Mortgage

Blockbusting

Blue-Sky Laws

Branch Office

Breach of Contract

Bridge Loan

Budget Loan

Buffer Zone

Building Line

Branch Manager

C).

Cash Flow

Capital Gains Tax

Contingencies

Concessions

Cash Out Refinance

Covenant of Further Assurance

Covenant of Quiet Enjoyment

Covenant Against Encumbrances

Covenant of Seisin

Condominium

Cooperative

Counteroffer

Condo Association Fees

Cost Market Analysis

Comparables

Closing Disclosure

Closing

Closing Costs

Cancellation Clause

Construction Loan

Canvassing

Capital Investment

Capitalization Rate

Capitalization

Casualty Insurance

Caveat Emptor

Certification of Sale

Certificate of Title

Chain of Title

Charrettes

Chattels

City Planning Commission

Claim of Right

Cloud on Title

Codicil

Coinsurance Clause

Collateral

Color of Title

Commingled Property

Commingling

Common Element

Common Law

Community Property

Competent Parties

Comprehensive Environmental Response

Compensation and Liability Act

Condemnation

Conforming Mortgages

Constructive Notice

Contributory Value

Conversion

Conveyance

Corporation

Correction Lines

Cost Approach

Convention

Cul de sac

Courtesy

D).

Depreciation

Deed

Deed in Lieu of Foreclosure

Delaware Statutory Trust

Down Payment

Duplex

Dual Agency

Due Diligence

DPOR

Default

Defeasance Clause

Defeasible Fee Estate

Defiance Judgment

Delinquent Taxes

Delivery in Escrow

Delivery

Demand

Density Zone

Deprecation

Descent

Designed Agency

Determinable Fee Estate

E).

Easement

Earnest Money

Escrow

Encumbrance

Encroachment

Exclusive Agency

Exclusive Right to Represent

Equity

Eviction

Executor’s Deed

Economic Life

Emblements

Eminent Domain

Employee Status

Employment Contract

Equal Credit Opportunity Act

Equalization

Equitable Title

Errors and Omissions Insurance

Escheat

Estate for Years

Estoppel Certificate

Ethical

Executed Contract

Execution

Executor

Executory Contract

Expenses

Expressed Contract

F).

Freehold

Fair Housing Act

FHA Financing

Foreclosure

Federal Home Loan Mortgage Corporation

Federal Housing Administration

Federal Income Tax

Federal Nation Mortgage Association

Free Simple Estate

FHA Appraisal

Fiduciary Relation

First Mortgage

Fiscal Policy

Fixture

Forcible Entry and Detainer

Foreign Acknowledgement

Franchise

Fraud

Functional Obsolescence

Funding Fee

Future Interest

G).

General Warranty Deed

Generally Accepted Accounting Principles

Gift Deed

Good Faith

Goodwill

Granting Clause

Grantee

Grantor

Government Performance And Results Act

Government Survey System

General Contractor

Government Lots

Government Nation Mortgage Association

Graduated Lease

Graduated Payment Mortgage

Grant

Gross Lease

Gross National Product

Gross Rent Multiplier

Ground Lease

Guaranteed Sale Plan

Guardian

H).

Hard Money Loan

Home Warranty

Home Inspection

Home Inspector

Homeowners Association

Habendum Clause

Hereditaments

Highest and Best Use

Holdover Tenancy

Holographic Will

Homeowners Insurance Policy

Homeowner Warrant Program

Homestead Provision

I).

iBuyer

J).

Joint Tenancy

Joint Venture

Judgment Clause

Judgment

Jumbo Loan

K).

L).

Laches

Leasehold Estate

Legal Description

Lessee

Lessor

Leverage

Levy

Liquidated Damages

Lis Pendens

Littoral Rights

Lot and Block Description

Lease Agreement

Leasehold

Landlord

Loan-to-Value Ratio (LTV)

Lien

Listing

Lead-Based Paint Disclosure

Lease Renewal

M).

Market Value

Mortgage

Mortgage Broker

Mortgage Insurance

MLS

Management Agreement

Marginal Lease

Marginal Real Estate

Marketable Title

Mechanics Lien

Metes and Bounds Description

Misrepresentation

Monetary Policy

Money Judgment

Money Market

Municipal Ordinariness

N).

Negligence

Net Lease

Net Operating Income

Nonconforming Use

Notarize

Notary Public

Note

Novation

O).

Open Listing

Origination Fee

P).

Proof of Funds

Probate Sale

PITI (Principal, Interest, Taxes, Insurance)

Pre-Approval

Pre-Qualification

Property Tax

Principal

Prepayment Penalty

Points

Purchase Agreement

Parcel

Parol Evidence Rule

Partition

Partnership

Party Wall Easement

Payee

Payor

Performance Bond

Periodic Estate

Physical Deterioration

Plat Book

Plat

Power of Attorney

Premises

Prepayment Clause

Principal of Conformity

Priority

Procuring Cause

Property Management

Proration

Public Utility Easement

Pur Autre Vie

Purchase-Money Mortgage

Q).

Quitclaim Deed

R).

Rent Back

Ratio

Realtor

Refinance

Real Estate Agent

Real Estate Broker

Rental Application

Real Estate Investment Trust (REIT)

Redlining

Range

Ready, Willing, and Able Buyer

Real Estate Settlement Procedures Act

Reality of Consent

Recapture

Receiver

Recession

Rescission

Reconciliation

Recording

Recovery Fund

Rectangular Survey System

Redemption Period

Regulation Z

Release

Reliction

Relocation Service

Renegotiable Rate Mortgage

Rent Schedule

Replacement Costs

Reproduction Cost

Reservation in a Deed

Restriction

Reverse Annuity Mortgage

Reversion

Reversionary Right

Rezoning

Right of First Refusal

Riparian Rights

Rural Development

S).

Sheriff’s Deed

Short Sale

Sellers Agent

Seller Credit

Settlement Agent

Settlement Statement

Seller Disclosures

Single Family Home

Security Deposit

Special Warranty Deed

Special Purpose Deed

Surveyor

Survey

Subdivision

Sale and Leaseback

Satisfaction

Secondary Mortgage Market

Section

Self-Proving Will

Servient Tenement

Setback

Short Sale

Situs

Sovereignty of the Soil

Special Assessment

Specific Performance

Squatters Rights

Statute of Frauds

Statute of Limitations

Steering

Subagency

Subletting

Subordination Agreement

Subordination

Subrogation

Surety Bond

Syndicate

T.

Tax Abatement

Tax Deed

Tax Sale

Termite Report

Tenancy in Common

Trust Sale

Tenant

Title

Title Attorney

Title Insurance

Townhouse

Transfer Tax

Tenancy at Will

Tenancy by the Entirety

Tenance at Sufferance

Tenement

Testate

Testator

Torrens System

Township Lines

Township

U).

USDA Loan

Underwriting

Unearned Increment

Uniform Commercial Code

Uniform Residential Appraisal Report

Uniform Residential Loan Application Report

Unilateral Contract

Unity of Ownership

Usury

V).

VA Financing

Virginia Landlord and Tenant Act

W).

Walkthrough

Wholesalers

X).

Y).

Z).

Zoning