Discover published sets by community

A legal right to use another's land for a specific limited purpose. E.g., to cross property to access a public beach.

A legal right or interest that a creditor has in the debtor's property, typically lasting until the debt which it secures is paid.

A loan secured by collateral of specified real estate property that the borrower is obliged to pay back with a predetermined set of payments.

A claim against, limitation on or liability against real estate. Encumbrances include liens, deed restrictions, easements, encroachments, and licenses.

A legal process by which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments, by forcing the sale of the asset used as the collateral for the loan.

A legal document that represents the ownership of property and is used to transfer ownership from one party to another.

An arrangement in which a third party holds and regulates payment of the funds required for two parties involved in a given transaction.

A legal document evidencing a person's right to or ownership of a property.

The process of retrieving documents evidencing events in the history of a piece of real property, to determine relevant interests in and regulations concerning that property.

The legislative process for dividing land into zones in which certain land uses are permitted or prohibited. E.g., commercial, residential.

A written agreement or promise in a deed or other document where a party pledges to perform or not perform specified acts with respect to a property.

A contract outlining the terms under which one party agrees to rent property owned by another party.

The price at which an interested but not desperate buyer would be willing to buy and an interested but not desperate seller would be willing to sell.

A process by which someone may acquire title to the land of another through certain acts over a defined period of time, such as possessing the land in a way that is public and unequivocal.

A mortgage that has a fixed interest rate for the entire term of the loan.

The difference between the market value of a property and any outstanding mortgage balance or other liens against it.

A licensed individual who acts as an intermediary on behalf of buyers or sellers in real estate transactions.

The act of entering into the book of public records the written instruments affecting the title to real property, such as deeds and mortgages.

A sale of property in which the proceeds from selling the property will fall short of the debts secured by liens against the property.

An organization in a subdivision, planned community, or condominium building that makes and enforces rules for the properties and their residents.

A legal instrument that is used to transfer interest in real property but makes no guarantee about the title.

A written proposal to buy a property at a specified price, often including conditions that must be met and a timeline for acceptance.

An arrangement where tenants hold possession and use of property owned by another. The tenancy is established through a lease and has terms such as the start date, duration, rent owed, etc.

The process of developing an opinion of a property's value, often used by banks to determine the loanable amount.

A type of real estate ownership where a person owns an individual unit in a multi-unit building. The owner also shares an interest in common areas and facilities.

A step above a real estate agent, a broker has additional training and can hire agents to work under them.

Fees paid at the end of a real estate transaction. This may include a loan origination fee, attorney fee, the title insurance fee, etc.

A mortgage that has a fluctuating interest rate based on a benchmark or index plus an additional spread, referred to as an ARM margin.

Now known as a Loan Estimate, this is an approximation of fees due at closing for a mortgage loan that a lender must provide to a borrower within three business days of receiving the loan application.

The owner of real estate who rents or leases it to another, known as the tenant.

Tax on the growth in value of investments incurred when individuals and corporations sell those investments.

An arrangement where the original tenant leases out the premises to another tenant.

Land and anything permanently affixed to it, including buildings, fences and other items attached to the structure.

The process of obtaining a new mortgage to replace an original one, often to acquire a more favorable interest term and rate.

A reduction in the value of an asset over time, particularly applicable to real estate for tax purposes.

A form of legal co-ownership of a property where each owner has an undivided interest with the 'right of survivorship'.