Glossary |
Terms that are on use on this site.
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| There are 7 entries in the glossary. |
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| Mechanic's Lien | A lien on property by someone who provided labor or materials to improved it. |
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| Meridian | Imaginary line that runs north and south and passes through the earth's poles (longitude line). |
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| Metes and Bounds Description | Legal description that starts at an identifiable point of beginning and then describes the property's boundaries in terms of courses and distances, returning to the point of beginning. |
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| Mortgage | Instrument that creates a voluntary lien on real property to secure repayment of a debt. |
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| Mortgage Insurance | Insurance that protects a lender against losses when a borrower defaults. |
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| Mortgagee | Lender who accepts a mortgage as security for repayment of a loan. |
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| Mortgagor | Property owner (typically a borrower) who gives a mortgage to another (typically a lender) as security for payment of an obligation. |
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Glossary V2.0 |
Real Estate Terms