Real Estate Words Glossary Archive


R

Monday, October 23rd, 2006
Race notice – The concept used in recordation of a property wherein the first party to register the property becomes the recognized owner. ...
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Q

Monday, October 23rd, 2006
Quadrangle – A square-shaped land area used in the government survey system method of land description that is 24 miles on each side and contains 16 townships. See United States Government Survey System. ...
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P

Monday, October 23rd, 2006
Package loan – A type of mortgage used in home financing that is inclusive and covers the real property and the improvements as well as any movable mechanical or electrical equipment. ...
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O

Monday, October 23rd, 2006
Objective value – The value used in the income and market data approaches of appraisal that can be easily determined using data directly from the market. ...
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N

Monday, October 23rd, 2006
NAR – See National Association of REALTORS® ...
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M

Monday, October 23rd, 2006
MAI – See Member Appraisal Institute ...
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L

Monday, October 23rd, 2006
Laches – An established legal doctrine under which, apart from any question of statutory limitation, courts discourage laziness and delay in the enforcements of rights and due to the delay or negligence in asserting one’s legal rights, will refuse to try suits not brought within a set reasonable ...
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K

Monday, October 23rd, 2006
Key lot – A lot in such a position that one side is adjacent to the back of other lots which in a subdivision is considered to be a least desirable lot. ...
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J

Monday, October 23rd, 2006
Jalousie – An exterior slotted blind or shutter window like a Venetian blind used to permit ventilation while avoiding rain penetration and also to control sunlight. ...
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I

Monday, October 23rd, 2006
Identity of interest – The system whereby the builder and sponsor of a housing project subsidized by the government have ownership interests in each other. ...
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