Property and real estate glossary
There are 150 entries in this glossary.C
| Term | Definition |
|---|---|
| CALL OPTION |
A clause in a mortgage which allows the lender to demand payment of the outstanding balance at a specific time. |
| CAP |
Associated with Adjustable Rate Mortgages. A limit on how high monthly payments or how much interest rates may change within a certain time period or the life of the mortgage. |
| CAPE COD COLONIAL |
A single-story house style made popular in New England. Often characterized by a steep roof with gables. |
| CAPITAL |
Accumulated goods and money which is most often used to generate additional income. |
| CAPITAL EXPENDITURE |
An outlay of funds designed to improve the income-producing capabilities of an asset or to extend its economic life. |
| CASH-OUT REFINANCE |
Refinancing a mortgage at a higher amount than the current balance in order to transform a portion of the equity into cash. |
| CAVEAT EMPTOR |
Literally translated: ''Let the buyer beware.'' A common business tenet whereby the buyer is responsible for verifying any and all claims by the seller of property. |
| CERTIFICATE OF DEPOSIT |
A document showing that the bearer has a certain amount of money, at a particular amount interest, on deposit with a financial institution. |