Glossary |
Terms that are on use on this site.
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All| There are 152 entries in the glossary. |
| Pages: «1 2 3 4 5 6 7 » |
| Facilitator | Broker or salesperson who performs services for a Buyer, a Seller, or both but does not represent either, nor do they owe any party any of the fiduciary duties except confidentiality. |
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| Federal Housing Administration (FHA) | A federal agency within the Department of Housing and Urban Development (HUD) that provides mortgage insurance in an effort to encourage lenders to make loans to low and middle income homebuyers. |
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| Federal National Mortgage Association | (Also known as FNMA) Commonly known as Fannie Mae, this is a government supervised secondary market agency. |
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| Fee Simple | Highest and most complete form of ownership, with no time period. |
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| Finance Charge | The charge a borrower is assessed, whether directly or indirectly, in connection with a loan. |
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| Fixture | Personal Property that has been attached to or is closely associated with real property, in such a way that it has legally become part of the property. |
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| Foreclosure | The sale of a property initiated by a lienholder in an effort to satisfy the unpaid lien from the sale proceeds. |
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| Freddie Mac | The popular name for the Federal Home Loan Mortgage Corporation (FHLMC). |
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| Frontage | The distance a property extends along a street or a body of water between the two side boundaries at the front of the lot. |
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| Ginnie Mae | The popular name for the Government National Mortgage Association (GNMA). |
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| Grant | The transfer or conveyance of interest in real property by means of a written instrument. |
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| Grantee | The recipient of a grant of real property. |
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| Grantor | One who gives an interest in real property to another. |
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| Hereditament | Real or personal property that can be inherited. |
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| Homeowner's Association | A nonprofit association comprised of homeowners in a subdivision who are responsible for enforcing the covenants, conditions, restrictions and managing other community affairs. |
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| Homeowner's Insurance | Insurance against damage to the real property and the homeowner's personal property. |
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| Homestead | Real estate that is occupied and used as a principal residence. |
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| Improvement | Man-made addition to real property. |
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| Interest | The charge a borrower pays to the lender for the use of the lender's money. |
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| Invalid | Not legally binding or legally effective. |
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| Lease | Contract in which one party pays rent in exchange for possession. |
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| Legal Description | Precise description of a parcel of real property. The three main types of descriptions are metes and bounds, rectangular survey, and recorded plat. |
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| Lessee | Tenant, or one who leases property from another. |
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| Lessor | Landlord, or one who leases property to another. |
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| Lien | An interest in real property which gives the lienholder an encumbrance on the owner's title. |
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Glossary V2.0 |
Real Estate Terms