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A loan secured by real property, typically paid back over a period of years, used by individuals and businesses to make large real estate purchases without paying the entire value upfront.

A legal doctrine that allows a person who possesses or resides on the land of another for an extended period to claim legal title to that land.

The act of determining the value of property for the purpose of taxation.

The minimum distance which a building or other structure must be set back from a street or road, a river or other stream, or any other place which is deemed to need protection.

The legal process of transferring property from one owner to another.

A legal right or claim against a property by a creditor to secure payment of a debt or obligation.

The final step in executing a real estate transaction. It includes the transferring of property ownership from seller to buyer, according to the terms set in the sales contract.

A type of property ownership where two or more people hold equal shares in the property, with rights of survivorship.

The difference between the market value of a property and the amount still owed on its mortgage.

The right of the government or its agent to expropriate private property for public use, with payment of compensation.

A deposit made by the buyer to the seller representing a buyer's good faith to buy a home. It becomes part of the down payment if the offer is accepted.

Personal property that becomes real property when attached to the land or a building.

Any claim or restriction on a property that may diminish its value, such as a lien, easement, or zoning restrictions.

The legal process by which an owner's right to a property is terminated, usually due to default on a mortgage.

A form of concurrent ownership of property where each owner has a distinct, transferrable interest, which may be unequal in size, and which passes through probate upon death.

A legal document that represents the ownership and boundaries of a property and is used to transfer property ownership.

The process of determining the value of property, usually for the purpose of obtaining a mortgage or selling the property.

A lease by a tenant to a third party for part of the lessee's existing term.

A non-possessory right to use and/or enter onto the real property of another without possessing it.

A legal concept meaning the lawful basis for the right to possess a property; in real estate, the collection of rights that an individual holds to use and enjoy the property.

A contractual agreement where a leaseholder obtains the right to use a property for a specified period in exchange for payment, but does not obtain ownership.

A lawsuit brought in a court to establish a party's title to real property and eliminate any challenges or claims to the property.

A sale of real estate in which the net proceeds are less than the debts owed on the property, but the lender agrees to accept less than the amount owed.

A legal arrangement where a third party temporarily holds large sums money or property until a particular condition has been met (e.g., the fulfillment of a purchase agreement).

The legislative process governing the use of land and the buildings on it, like locating residential, commercial, and industrial areas within a city.

A promise in a written contract or a deed of real property imposing certain obligations or restrictions on the use of the property.

The most probable price a property should bring in a competitive and open market under all conditions requisite to a fair sale.

Legal rights of a property owner whose land is adjacent to a watercourse, relating to the use of water from it.

A licensed professional who represents buyers or sellers in real estate transactions.