NJ Real Estate Vocabulary

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Abandonment
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Terms in this set (644)
Abandonment
The voluntary surrender or relinquishment of possession of real property without the vesting of this interest in any other person.
Abstract of Title
A summary of all of the recorded instruments and proceedings which affect the title to prperty, arranged in the order in which they recorded.
Abstract of Title with Layer's Opinion
An abstract of title that a lawyer has examined and has certified to be, in his or her opinion, an accurate statement of fact.
Acceleration Clause
The clause in a note or mortgage that can be enforced to make the entire debt due immediately if the mortgagor defaults.
Accretion
The addition of land through processes of nature, as by water or wind.
Accrued Items
On a closing statement, items of expense that have been incurred but are not yet payable, such as interest on a mortgage loan.
Accrued Interest
Interest that has been earned but not due and payable.
Accrue
to grow; to be added to
Acknowledgement
A formal declaration before a duly authorized officer by a person who has executed an instrument that such execution is the person's act and deed.
Acquisition
An act or process by which a person procures property.
AcreA measure of land equaling 43,560 square feet.Action for Specific PerformanceA court action to compel a defaulting principal to comply with provisions of a contract.Actual NoticeExpress information or fact; that of which is known; actual knowledge.AdjacentLying near to but not necessarily in actual contact with.AdjoiningContiguous; attaching, in actual contact with.Adjustable-Rate MortgageA mortgage loan in which the interest may increase or decrease at specific intervals, following an economic indicator.Adjusted BiasOriginal cost plus improvement, minus depreciation.AdministratorA person appointed by court to administer the estate of a deceased person who left no will; I.e.; who does intestate.Ad ValoremAccording to valuation.Ad Valorem TaxA tax levied according to value; generally used to refer to real estate tax. Also called general tax.Adverse PossessionA means of acquiring title where an occupant has been in actual, open, notorious, exclusive, and continuous occupancy of property under a claim of right for the required statutory period.AffidavitA statement or declaration reduced to writing, and sworn to or affirmed before some officer who is authorized to administer an oath or affirmation.AffirmTo confirm, to ratify, to verify.AgencyThe relationship between principal and agent which arises out of a contract either expressed or implied, written or oral, wherein an agent is employed by a person to do certain acts on the persons behalf in dealing with a third party.AgentOne who undertakes to transact some business or to manage some affair for another by authority of the latter.Agreement of SaleA written agreement between seller and purchaser in which the purchaser agrees to buy certain real estate and the seller agrees to sell upon terms and conditions set forth therein.Air RightsRights in real property to use the space above the surface of the land.AllienationA transferring of property to another; the transfer of property and possession of lands, or other things, from one person to another.Alienation ClauseAllows the lender to require the balance of a loan to be paid in full if the collateral is sold (also known as a "due on sale" clause)ALIENSAn acronym to remember six items that the lender must obtain before issuing a Loan Estimate (LE): address the subject property, loan amount, income, estimate of property value, name of borrower(s), Social Security number(s).AmenitySome extra that contributes to owner satisfaction: clean, air, view, ect.Americans with Disabilities Act (ADA)Mandates certain adaptations of real estate to accommodate various disabilities.Amortization ScheduleWritten Listing of each payment, broken down into interest, principal, and remaining debt.Amortized LoanA loan which the principal as well as the interest is payable in monthly or the other periodic installments over the term of the loan, resulting in a zero balance due at the end of the term.AmortizationA gradual paying off of a debt by periodic installments.Annual Percentage RateRate of interest charged on a loan, calculated to take into account upfront loan fees and points. Usually higher that the contract interest rate.Antitrust LawsLaws designed to preserve the free enterprise of the open marketplace by making illegal certain private conspiracies and combinations formed to minimize competition.ApportionmentAdjustment of the income, expenses or carrying charges of real estate usually computed to the date of closing of title so that the seller pays all expenses to that date. The buyer assumes all expenses commencing the date the deed is conveyed to the buyer.AppraisalAn estimate of a property's value by an appraiser who is usually presumed to be expert in his work.AppraiserIndependent person trained to estimate value.Appraisal by Income Capitalization ApproachAn estimate of value by capitalization of productivity and income.Appraisal by Sale Comparison ApproachComparability with the sale prices of other similar properties.Appraisal by Cost ApproachAdding together all parts of a property separately appraised to form a whole: e.g., value of the land considered as vacant added to the cost of reproduction of the building, less depreciation.AppreciationAn increase in the worth or value of a property.AppurtenanceSomething which is outside the property itself but belongs to the land and adds to its greater enjoyment such as a right-of-way or a barn or dwelling.Arm's-length TransactionA transaction between relative strangers, each trying to do the best for himself or herself.ArrearsThe opposite of "in advance," payment after the service has be rendered.AsbestosA mineral once used in insulation and other materials that has been liked to respiratory diseases.Assessed ValuationA valuation placed upon property by a public officer or a board, as a basis for taxation.AssessmentA charge against real estate made by a unit of government to cover a proportionate cost of an improvement such as a Street or sewer.AssessorAn official who has the responsibility of determining assessed values.AssigneeThe person to whom an agreement or contract is assigned.AssignmentThe method or manner by which a right or contract is transferred from one person to another.AssignorA party who assigns or transfers an agreement or contract to another.AssumableOf a mortgage, able to be transformed to another owner of the property.Assumption of MortgageThe taking of title to a property by a grantee, wherein the grantee assumes liability for payment of an existing note or bond secured by a mortgage against a property and becomes personality liable for the payment of such mortgage debt.Attorney General's MemorandumWritten statement about Fair Housing Laws to be presented to buyers and sellers.AvulsionA sudden and perceptible loss or addition to land by the action of water, or a sudden change in the bed or course of a stream.Ballon Mortgage PaymentA large payment during the term of mortgage, often at the end.Bargain and Sale DeedA deed that carries with it no warranties against liens or other encumbrances but that does imply that the grantor has the right to convey title.Bargain and Sale Deed with CovenantA deed in which the grantor warrants or guarantees the title against defects arising during the period of his or her tenure and ownership of the property but not against the defects existing before that time.BasisThe cost of the property that the Internal Revenue Service uses to determine annual depreciation and gain and loss on the sale of the asset.BenchmarkA permanent reference mark or point elevation. (see Datum).BeneficiaryThe person who receives or is to receive the benefits resulting from certain acts.BequeathTo give or hand down by will; to leave by will.BequestPersonal property that is given by the terms of a will.Bilateral ContractAn agreement entered into by two or more legal legally competent parties that is binding on all parties.Bill of SaleA written instrument given to pass title of personal property from vendor to vendee.BinderAn agreement to cover the down payment for the purchase of real estate as evidence of good faith on the part of the purchaser.Biweekly MortgageRepayment plan in which half a monthly payments made every two weeks, the equivalent of 13 full payments a year.Blanket MortgageA mortgage covering more than one property. A blanket mortgage is often used for subdivision financing.BlockbustingThe practice of inducing homeowners in a particular neighborhood to sell their homes quickly, often at below market prices, by creating the fear that the entry of a minority group or groups into the neighborhood will cause a precipitous decline in property value.Blue-sky LawsCommon name for laws that regulate the registration and sale of investment securities.Board of DirectorsElected managing body of a corporation, specifically an apartment building.Board of ManagersElected managing body of a condominium.Bona FideIn good faith and without fraudBondThe evidence of a personal debt which is secured by a mortgage or other lien on real estate.BootMoney or property given to make up any difference in value or equity between two properties in an exchange.Brokers Price Opinion (BPO)Licensee's written estimate of market value, used by lenders and mortgage companies where they believe the expense and delay of an appraisal is not needed.Branch OfficeA secondary place of business apart from the principal or main office from which real estate business is conducted.Breach of ContractViolation of any terms or conditions in a contract without legal excuse; for example, failure to make a payment when it is due.BrokerOne who buys and sells for another for a fee. (see also Real Estate Broker, Transaction Broker)BrokerageThe business of buying and selling for another for a fee.Broker of RecordSynonym for supervising broker.Broker-SalespersonA qualified broker who practices real estate in the position of a salesperson in another broker's office.Building CodeRegulations established by state or local government stating fully the structural requirements for building.Building LineA line fixed at a certain distance from the front and/ or sides of a lot, beyond which no building can project.Bureau of Subdivided Land Sales ControlsState agency that approves and registers sales of some out of state property.Building Loan AgreementAn agreement whereby the lender advances money to an owner primarily in the erection of buildings. Such funds are commonly advanced in installments as the structure is completed.Building PermitWritten governmental permission for the construction, renovation, or substantial repair of a building.Buy-downPayments of extra upfront points in return for lower interest rates.Buyer's BrokerA real estate broker retained by a prospective purchaser, who becomes the broker's principal or client and to whom fiduciary duties are owed.BylawsRules and regulations adopted by an association.CAFRANew Jersey Coastal Area Facilities Review Act, which sharply limits development in environmentally sensitive area's.Cancellation ClauseA provision in a lease or other contact which confers upon one or more of all of the party's or parties' obligations thereunder upon the occurrence of the condition or contingency set forth in the said clause.CapWith an adjustable-rate mortgage, a limit, usually in percentage points, on how much the interest rate or payment might be raised in each adjustment period. (for lifetime cap see ceiling)Capital AppreciationThe appreciation accruing to the benefit of the capitol improvement to real estate.Capital AssetAny asset of a permanent nature used for the production of income.Capital GainIncome that results from the sale of an asset not in the usual course of business. (may be taxed at a lower rate than ordinary income).Capital GainsProfits realized from the sales of assets like real estate.Capital ImprovementAny structure erected as a permanent improvement to real estate, usually extending the useful life and value of a property. ex: the replacement of a roof.Capital LossA loss from the sale of an asset not in the usual course of business.CapitalizationThe conversion of future income to be derived from an investment property into an estimate of the present value.Capitalization RateThe rate of return a property produces on the owner's investment.Carbon MonoxideA colorless, odorless gas that occurs as a by-product of fuel burning. Poisoning from this gas has been linked to dizziness, nausea, and death.Cash FlowThe net spendable income from an investment after deducting expenses.Caveat Emptor"Let the buyer beware"; the buyer must examine the goods or property and buy at the buyer's own risk.CC&RsCovenants, conditions, and restrictions of a condominium or cooperative development.Cease and Desist ListUpon the established of a cease and desist zone by the Secretary, a list of homeowners who have filed owner's statements expressing their wish not to be solicited by real estate brokers or salespersons's. Soliciting of listed homeowners by licensees is prohibited. Violators of such prohibition are subject to licensure suspension or revocation.Cease and Desist ZoneA rule adopted by the Secretary of State which prohibits the direct solicitation of homeowners whose names and addressed appear on a cease and desist list maintained by the Secretary. Such rule may be adopted upon the Secretary's determination that some homeowners within a defined geographic are have been subject to intense and repeated solicitation by real estate brokers and salesperson's.CeilingWith an adjustment-rate mortgage, a limit, usually in percentage points, beyond which the interest rates or monthly payments on a loan may never rise. Sometimes know as a life-cap.The Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA)A federal law administered by the environmental protection agency that establishes a process for identifying parties responsible for creating hazardous waste sites, forcing liable parties to clean up toxic sites, brining legal action against responsible parties, and funding the abatement of toxic sites. (see superfund)Certificate of ComplianceInspector's statement that property is fit for human habitation.Certificate of Occupancy (CO)A document issues by a governmental authority authority that a building is ready and fit for occupancy. Document issued by a municipal authority stating that a building complies with building, health, and safety codes and may be occupied.Certificate of Reasonable Value (CRV)VA appraisal statement.Certificate of TitleA statement of opinion of title status on a parcel of real property based on an examination of specified public records.Chain of TitleThe conveyance of real property to one owner from another, reaching back to the original grantor. A history of the conveyances and encumbrances affecting a title from the time of original patent was granted, or as far back as records are available.ChattelPersonal property, such as household goods.Chattel MortgageCheckersClientThe one by whom a broker is employed.Closing DateThe date upon which the property is conveyed by the seller to the buyer.Closing Disclosure (CD)Closing StatementCloud on the TitleAn outstanding claim or incumbrance which, if valid, would affect or impair the owner's title.ClusteringCMACode of EthicsC of OCollateralAdditional security pledged for the payment of an obligation.Color of TitleThat which appears to be good title, but which is not title in fact.ComminglingTo mingle or mix, for example, a client's funds in the broker's personal or general account.CommissionA sum due a real estate broker for services in that capacity.CommitmentA pledge or a promise or affirmation agreement.Common ElementsComparablesComparative Market Analysis (CMA)Completion BondA bond used to guarantee that a proposed subdivision development will be completed.Competent PartiesCondemnationTaking private property for public use, with fair compensation to the owner; exercising the right of eminent domain.Condemnation SuitCondominiumConditional Sales ContractA contract for the dale of property stating that delivery is to be made to the buyer, title remain vested in the seller until the conditions of the contact have been fulfilled.ConsiderationAnything given to induce another to enter into a contract such as money or personal service.Construction LienConstructive NoticeInformation or knowledge of a fact imputed by law to a person because the person could have discovered the fact by proper diligence and inquiry.Consumer Information Statement (CIS)ContingencyA provision in a contract that requires the occurrence of a specific event before the contract can be completed.Continuing EducationContractAn agreement between competent parties to do or not to do certain things which is legally enforceable, whereby each party acquires a right.Contract for DeedConversionChange from one character or use to another.Conventional LoanConveyanceThe transfer of the title of land from one to another. The means or medium by which title of real estate is transferred.CooperativeCorporationCost ApproachCost BasisCounterofferCovenantsAgreements written into deeds and other instruments promising performance or nonperformance of certain acts, or stipulating certain uses or bonuses of the property.CovenantCPMCreditCredit UnionCubic-foot MethodCul-de-sacA blind alley: a street with only one outlet.Current ValueThe value usually sought to be estimated in an appraisal.CustomerDamagesThe indemnity recoverable by a person who has sustained an injury, either to his/her person, property, or relative rights, through the act or default of another.DatumDebitThe amount charged as due or owing.Debt CapitolMoney borrowed for a particular business purpose .Debt ServiceAnnual amount to be paid by a debtor on an obligation to repay borrowed money.DecedentOne who is dead.DecreeOrder issued by one in authority; an edict or law; a judicial decision.DedicationA grant and appropriation of land by it's owner for some public use, accepted for such use, by an authorized public official on behalf of the public.DeedAn instrument in writing duly executed and delivered, that conveys title to real property.Deed RestrictionAn imposed restriction in a deed for the purpose of limiting the use of land such as 1. A restriction against the sale of liquor thereon. 2. A restriction as to the size, type, value or placement of improvements that may be erected thereon.DefaultFailure to fulfill a duty or promise, or to discharge an obligation; omission or failure to perform any acts.Defeasance ClauseThe clause in a mortgage that permits the mortgager to redeem his or her property upon payment of the obligations to the mortgagee.Deficiency JudgementA judgement given when the security for a loan does not entirely satisfy the debt upon it's default.Delinquent TaxesDeliveryThe transfer of the possession of a thing from one person to another,Delivery and AcceptanceDemand NoteA note which is payable on demand of the holder.DemiseDemising ClauseA clause found in a lease whereby the landlord (lessor) leases and the tenant (leasee) takes the property.Department of Environmental Protection (DEP)DepreciationLoss of value in real property brought about by age, physical deterioration, or functional or economic obsolescence.DeveloperDescentWhen an owner of real estate dies intestate, the owner's property descends, by operation of law, to the owner's distributees.DeviseA gift of real estate by will or last testament.DeviseeOne who receives a bequest of real estate made by will.DevisorOne who bequeaths real estate by will.Discount PointsDispossess ProceedingSummary process by a landlord to oust a tenant and regain possession of the premises for nonpayment of rent to other breach of conditions of the lease or occupancy.Dominant EstateDominant TenementDocumentary EvidenceEvidence in the form of written or printed papers.Dual AgencyRepresenting both principals (seller and buyer) to a transaction.Due-on-Sale ClauseDuressUnlawful constraint exercised upon a person whereby the person is forced to do some act against the person's will.Earnest MoneyDown payment made by a purchaser of real estate as evidence of good faith.EasementA right that may be exercised by the public or individuals on, over or through the lands of others.Easement AppurtenantEasement by NecessityEasement by PrescriptionEasement in GrossEconomic LifeThe period over which a property will yield the investor a return on the investment.Economic ObsolescenceLessened desirability or useful life arising from economic forces, such as changes in optimum land use, legislative enactments which restrict or impair property rights, and changes in supply-demand ratios.Electromagnetic FieldsEjectmentA form of action to regain possession of real property, with damages for the unlawful retention; used when there is no relationship of landlord and tenant.EmblementsEminent DomainA right of the government to acquire property for necessary public use by condemnation; the owner must be fairly compensated.EncroachmentA building, part of a building, or obstruction which intrudes upon or invades a highway or sidewalk or trespasses upon the property of another.EncumbranceAny right to or interest in the land interfering with its use or transfer, or subjecting it to an obligation.EndorsementAn act of signing one's name on the back of a check or note, with or without further qualifications.Environmental Impact StudyEqualization FactorEquitable TitleEquityThe interest or value which the owner has in real estate over and above the liens against it.Equity LoanJunior loan based on a percentage of the equity.Equity of RedemptionA right of the owner to reclaim property before it is sold through foreclosure proceedings, by the payment of the debt, interest and costs.ErosionTh wearing away of land through processes of nature, as by water and winds.Errors and Omissions (E&O) InsuranceEscape ClauseEscheatTh reversion to the State of property in event the owner thereof abandons it or dies, without leaving a will and has no distrubutees to whom the property may pass by lawful decent.EscrowA written agreement between two or more parties providing that certain instruments or property be placed with a third party to be delivered to a designated person upon the fulfillment or performance of some act or condition.Escrow ClosingEstateThe degree, quantity, nature and extent of interest which a person has in real property.Estate in ReversionThe residue of an estate left for the grantor, to commence in possession after the termination of some particular estate granted by the grantor.Estate at WillThe occupation of lands and tenements by a tenant for an indefinite period, terminable by one or both parties at will,Estate for YearsEstoppel CertificateAn instrument executed by the mortgagor setting forth the present status and the balance due on the mortgage as of the date of the execution of the certificate.EvictionA legal proceeding by a lessor landlord to recover possession of real property.Actual EvictionWhere one is either by force or by process of law, actually put out of possession.Constructive EvictionAny distribution of the tenant's possession of the leased premise by the landlord whereby the premises are rendered unfitEvidence of TitleExchangeExclusive AgencyAn agreement of employment of a broker to the exclusion of all other brokers; if sale is made by any other broker during term of employment, commissions payable to the broker who effected the transaction.Exclusionary ZoningExclusive Agency ListingExclusive Right to SellAn agreement of employment by a broker under which the exclusive right to sell for a specified period is granted to the broker; if a sale durning the term of the agreement is made by the owner or by any other broker, the broker holding such exclusive right to sell is nevertheless entitled to compensation.Executed ContractExecutionExecutorA male person or a corporate entity or any other type of organization named or designed in a will to carry out its provisions as to the disposition of the estate of a deceased person.Executory ContractExecutrixA women appointed to perform the same duties as an executor.Express ContractExternal ObsolescenceExtension AgreementAn agreement which extends the life of a mortgage to a later date.FacilitatorFair Housing PartnershipFannie MaeFee; Fee Simple; Fee AbsoluteAbsolute ownership of real property; a person has this type of estate where the person is entitles to the entire property with unconditional power of disposition during the person's life and descending to the person's heirs or distributees.Federal Housing Administration (FHA)FHA 203(b)FHA LoanFiduciaryA person who on behalf of or for the benefit of another transacts business or handles money or property not the person's own; such relationship implies great confidence and trust.Fiduciary RelationshipFixturesPersonal property so attached to the land or improvements as to become part of the real estate.FixtureForeclosuresForeclosureA procedure whereby property pledged as security for a debt is sold to pay the debt in the event of default in payments or terms.FranchiseFraudFraudulent MisrepresentationFreddie MacFreeholdAn intrest in real estate not less than an estate for life. (Use of this term discontinued Sept. 1, 1967.)Freehold EstateFront FootFunctional ObsolescenceFuture IntrestGapGeneral AgentGeneral LienGeneral PartnershipGinnie MaeGraduate REALTOR Institute (GRI)Grace PeriodAdditional time allowed to perform an act or make a payment before a default occurs.Graduated LeasesA lease which provides for a graduated change at stated intervals in the amount of the rent to be paid; used largely in long term leases.Graduated LeaseGrantA technical term used in deeds of conveyance of lands to indicate a transfer.GranteeThe party to whom the title to real estate is conveyed.GrantorThe person who conveys real estate by deed; the seller.Granting ClauseGross IncomeTotal income from property before any expenses are deducted.Gross LeaseA lease of property whereby the lessor is to meet all property charges regularly incurred through ownership.Gross Rent MultiplierGround RentEarnings of improved property credited to earnings of the ground itself after allowance made for earnings of improvements.Ground LeaseGroup BoycottAn agreement between members of a trade to exclude other members from fair participation in the trade.Guaranty FundGuilty KnowledgeHabendum ClauseThe "to have and to hold" clause which defines or limits the quantity of the estate granted in the premises of the deed.HeirHighest and Best UseHoldover TenantA tenant who remains in possession of leased property after the expiration of the lease term.Holdover TenancyHolographic WillHome Equity LoanHomeowner's AssociationHorizontal Properties ActHypothecationImpact FeesImplied ContractImplied Warranty of HabitabilityImprovementIncome Capitalization ApproachIncompetentA person who is unable to manage his/her own affairs by reason of insanity, imbecility, or feeblemindedness.Independent ContractorInnocent MisrepresentationIn RemA proceeding against the realty directly; as distinguished from a proceeding against a person.InstallmentsParts of the same debt, payable at successive periods as agreed; payments made to reduce mortgage.Installment ContractInstrumentA written legal document; created to effect the rights of the parties.Installment SaleInterim FinancingInterest RateThe percentage of a sum of money charged for its use.IntestateA person who dies having made no will. pr leaves one which is defective in form, in which case the person's estate depends to the person's distributees in the manner prescribed by law.Involuntary LienA lean imposed against property without consent of the owner, e.g. taxes, special assessmentsIrrevocableIncapable of being recalled or revoked; unchangeable; unalterable.ISRAJoint TenancyOwnership pf realty by two or more person's each of whom has am undimmed interest with the "right of survivorship".Joint VentureJudgementA formal decision issued by a court concerning the respective rights and claims of the parties to an act or suit.Jumbo LoanJunior LienJunior MortgageLachesLandLandlordLatent DefectLaw Against DiscriminationLaw of AgencyLeadLeaseLeaseholdLeasehold EstateLegacyLegal DescriptionLesseeLessorLetter of IntentLeverageLicenseLienLife EstateLife TennentLike-kind PropertyLimited Liability Company (LLC)Liquidated DamagesLiquidityLis PendensListingListing AgreementListing BrokerLittoral RightsLoan Estimate (LE)Loan-to-Value (LTV)Locational ObsolescenceMandatoryMarginal Tax RateMarket AllocationMarket PriceMarket ValueMarketable TitleMarket Data ApproachMaster PlanMechanic's LienMegan's LawMeeting of the MindsMetes and BoundsMillMineral RightsMinorMIPMonumentMonth-to-Month TenancyMortoriumMortgageMortgage BlanketMortgage CommitmentMortgage Reduction CertificateMortgageeMortgagorMortgage LienMortgage Reduction CertificateMount Laurel I & IIMultiple ListingMultiple Listing ServiceNational Association of REALTORSNegative AmortizationNegligent MisrepresentationNet LeaseNet ListingNJ Association of REALTORSNJ Fair Housing and Mortgage Finance AgencyNJ Real Estate CommissionNonconforming UseNoteNovationNon-solicitation OrderNotary PublicObligeeObligorObsolescenceOffer and AcceptanceOff-site ConditionsOpen-end MortgageOpen ListingOptionPackage LoanParcelParol Evidence RulePartitionPartnershipParty WallPercentage LeasePercolation TestPerformance BondPersonal PropertyPeriodic EstatePhysical DeteriorationPITIPlanned Real Estate Development ActPlanned Unit Development (PUD)Planning BoardPlatPlat BookPlottagePointPointsPoint of Beginning (POB)Police PowerPortfolio LoanPower of AttorneyPremisesPrepayment ClausePrepayment PenaltyPrice-FixingPrincipalPrincipal BrokerPrimary Mortgage MarketPrivate Mortgage Insurance (PMI)ProbateProbationProrationProrationsProspectusProcuring CauseProtected ClassProperty ManagerProprietary LeasePublic RecordsPuffingPurchase Money MortgagePur Autre VieQualifying RatioQuiet EnjoymentQuiet Title SuitQuit Claim DeedRacial SteeringRadonRate LockReady, Willing, and Able BuyerReal EstateReal Estate BoardReal Estate BrokerReal Estate Investment Trust (REIT)Real Estate License Act, Title 45, Chapter 15Real Estate Sales Full Disclosure ActReal Estate Settlement Procedures Act (RESPA)Real Estate SyndicateReal PropertyRealization of GainRealtorRealtor-AssociateReconciliationRecordingRectangular Survey SystemRecourseRedemptionRedemption PeriodRed-LiningReferral AgentReferral FeeRegulation ZReferee's DeedReleaseRelease ClauseRemRemainderRemainder IntrestRemainder-manReal Estate Owned (REO)RentReplacement CostReproduction CostRestraint of TradeRestrictionReturnReverse DiscriminationReverse MortgageReversionReversionary InterestRevocationRight of SurvivorshipRight-of-wayRiparian OwnerRiparian RightsSale and LeasebackSales Comparison ApproachSales ContractSalespersonSatisfaction of MortgageSatisfaction PieceSecondary Mortgage MarketSecond MortgageSectionSeisinSelling BrokerSeizinServient EstateSetbackSeveraltyShared Equity MortgageSheriff's SaleShort SaleSitusSole ProprietorshipSpecial AgentSpecial AssessmentSpecific LienSpecific PerformanceSpecific Performance SuitStandard of CareStatuteStatute of FraudsStatute of LimitationsStatutory LienSteeringStraight-line MethodStraight (term) LoanSubagentSubdivisionSublettingSubordinationSubordination AgreementSubordination ClauseSubrogationSubstitutionSubsurface RightsSuit for PossessionSuperfundSubscribing WitnessSupervising BrokerSuretySurface RightsSurrenderSurrogate's Court (probate court)SurveySuspensionSyndicateTackingTarget AreasTax CreditTax DeedTax ForeclosureTax LienTax RateTax SaleTax ShelterTenancy at SufferanceTenancy in CommonTenancy by the EntiretyTenancy at WillTenancy in SeveraltyTenantTestatorTenant at SufferanceTestersTestateTime is of the EssenceTime-SharingTitleTitle InsuranceTitle Insurance PolicyTitle SearchTitle VIIITool Kit: A Step-by-Step GuideTorrens SystemTorrens TitleTortTownshipTrade FixturesTransfer TaxTransaction BrokerTrespassTriggering TermsTRIDTrustTrust AccountTrust DeedTrusteeTruth in Lending ActTruth-in-RentingUFFIUnderwritingUndivided IntrestUnenforceable ContractUniform Commercial Code (UCC)Uniform Construction CodeUniform Settlement StatementUnilateral ContractUnity of OwnershipUrban PropertyUseful LifeUsuryValidValid ContractValuationValueVA MortgageVarianceVendeeVendorVendee's LienViolationsVoidVoid ContractVoidableVoidable ContractVoluntary LienWavierWaiver of Broker CooperationWarranty DeedWarranty Deed (full covenant and warranty deed)WasteWater RightsWillWraparound LoanZoneZoning Ordinance