Property and real estate glossary
There are 150 entries in this glossary.A
| Term | Definition |
|---|---|
| ABANDONMENT |
The voluntary relinquishment of rights of ownership or another interest(such as easement) by faliure to use the property, coupled with an intent to abandon (give up the interest). |
| ABSORPTION RATE |
The ratio of the number of properties in an area that have been sold against the number available. Used to show the volatility of a market. |
| ABSTRACT OF JUDGEMENT |
A summary of money judgement obtained in court. (When this summary or abstract is recorded in the county recorder's office, in some states the judgement becomes a lien on the debtor's property, both presently owned or after-acquired.) |
| ACCELERATION CLAUSE |
A provision in a mortgage that gives the lender the right to demand immediate payment of the outstanding loan balance under certain circumstances. Usually when the borrower defaults on the loan. |
| ACCESSORY BUILDING |
A building separate from the main structure on a property. Often used for a specific purpose, such as a workshop, storage shed or garage. |
| ACCRETION |
The natural growth of a piece of land resulting from forces of nature |
| ACRE |
43,560 square feet. A measurement of area. |
| ACTUAL AGE |
The amount of time that has passed since a building or other structure was built. See also: EFFECTIVE AGE |
| ADJUSTMENT DATE |
The date the interest rate changes on an adjustable rate mortgage. |