Glossary |
Terms that are on use on this site.
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| There are 7 entries in the glossary. |
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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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| Loan-to-Value Ration (LTV) | The relationship between loan amount and sales price or appraised value of the property (whichever is less), expressed as a percentage. |
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| Lot and Block Description | Legal description used for platted property. This type of legal description states the lot number, block number and the name of the subdivision. |
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Glossary V2.0 |
Real Estate Terms