real estate vocabulary (A's)

Designated airspace over a piece of land

The right to use the open space above a property, usually allowing the surface to be used for another purpose

The act of transferring property to another.

The clause in a mortgage or deed of trust stating that the balance of the secured debt becomes immediately due and payable at the lender’s o

A system of land ownership in which land is held free and clear of any rent or service due to the government; commonly contrasted to the feu

A change to the existing content of a contract

A title insurance policy that protects the interest in a collateral property of a mortgage lender who originates a new real estate loan.

Act addresses rights of individuals with disabilities in employment and public accommodations

A loan in which the principal, as well as the interest, is payable in monthly or other periodic installments over the term of the loan.

Process of converting personal property into real property.

The relationship of the total finance charges associate with a loan

The appraisal principle holding that value can increase or decrease based on the expectation of some future benefit or detriment produced by

Laws designed to preserve the free enterprise of the open marketplace by making illegal certain private conspiracies and combinations formed

A process that accommodates an in house sale in which two different agents are involved

An estimate of the quantity, quality, or value of something

An opinion of a property’s market value given to a lender or client with detailed market information

An independent person trained to provide an unbiased estimate of value

Regulations issued by Fannie Mae that must be followed by appraisers to ensure accurate and objective appraisals

Regulations issued by Fannie Mae that must be followed by appraisers to ensure accurate and objective appraisals

An increase in the worth or value of a property due to economic or related causes, which may prove to be either temporary or permanent; oppo

A right, privilege, or improvement belonging to, and passing with, the land; “runs with the land”

An easement that is annexed to the ownership of one parcel and allows the owner the use of the neighbor’s land

A level surface or piece of ground; the size of a surface; the amount of a two-dimensional object

People’s desire for one are over another, based on a number of factors such as history, reputation, convenience, scenic beauty, and location

A mineral once used in insulation and other materials that can cause respiratory diseases

The combining of two or more adjoining lots into one larger tract to increase their total value

The value set on property for taxation purposes

The imposition of tax, charge, or levy, usually according to established rates

A factor (number) by which the assessed value of a property is multiplied to arrive at a value for the property that is in line with statewi

A licensed real estate salesperson who is employed by or associated with the broker to perform brokerage activities on behalf of or for the

Acquiring title to property on which there is an existing mortgage and agreeing to be personal liable for the terms and conditions of the mo

The act of taking a person’s property into legal custody by writ or other judicial order to hold it available for application to that person

An abstract of title that an attorney has examined and has certified to be, in the attorney’s opinion, an accurate statement of the facts co

Computer systems that permit lenders to expedite the loan approval process and reduce lending

A listing agreement clause stating that the agreement will continue automatically for a certain period of time after its expiration date

The sudden tearing away of land, as by earthquake, flood, volcanic action, or the sudden change in the course of a stream