Real Estate Words Glossary Archive


Adjustable rate mortgage (ARM)

Tuesday, December 11th, 2007
Mortgage loan on which the interest rate falls and rises with changes in prevailing rates. The mortgage rate is tied to a selected index and may be adjusted annually. Also called a variable rate mortgage.


Acceleration clause

Tuesday, December 11th, 2007
Stipulation in a mortgage agreement that allows the lender to demand immediate payment of the entire loan balance if any scheduled payment is missed.


Z

Monday, October 23rd, 2006
Zone – The area set off by the proper authorities for a specific use or in an area subject to certain restrictions or restraints. ...
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Y

Monday, October 23rd, 2006
Yard – A unit of measurement that is 3 feet long. ...
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X

Monday, October 23rd, 2006
X – An individual who cannot write may execute a legal document by affixing an “X” – his or her mark – where the signature normally goes and a witness would write the person’s name beneath the mark and then sign his or her own name. ...
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W

Monday, October 23rd, 2006
Wainscoting – The wooden lining of an interior wall and also the lower part of a wall when it is finished different than the upper wall. ...
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V

Monday, October 23rd, 2006
VA – See Veterans’ Administration. ...
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U

Monday, October 23rd, 2006
Ultra vires activities – The actions of a corporation done beyond the powers granted in its charter that could lead to a lawsuit by its shareholders. ...
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T

Monday, October 23rd, 2006
Tacking – The adding together of successive periods of adverse possession of parties in privity with each other in order to create one continuous adverse possession to meet the legal time requirement to establish title. ...
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S

Monday, October 23rd, 2006
Safe rate – The rate of interest paid on government bonds, utility bonds or bank savings which holds mimimal chance of loss. ...
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