Key Real Estate Terms H This article provides the definition of key estate terms beginning with the letter H. Habendum Clause is the part of the deed beginning with the words to have and to hold, following the granting clause and defining the extent of ownership the grantor is conveying Heir is a person who inherits under a will or a person who succeeds to an interest under the state laws of descent if the decedent dies without a will Highest and Best Use is term meaning that use of a property which is most likely to produce the greatest net return to the property over a given period of … Continue reading...

Definitions of Key Real Estate Terms F This article provides the definitions of key estate terms beginning with the letter F. Facilitator is a real estate broker who assists a buyer and seller in reaching an agreement in a real estate transaction but does not have an agency relationship with that party. Fair Housing Act is the federal law that prohibits discrimination in housing based on race, color, religion, sex, handicap, or familial status, and national origin. Fair Market Value is an appraisal term for the most probable price in terms of money that a property, if offered for sale for a … Continue reading...

Key Real Estate Terms W This article provides the definition of key estate terms beginning with the letter W. Walk Through is a final inspection of a property right before closing. Warranty is a promise that certain stated facts are true. Warranty Deed is a deed in which the grantor fully warrants good clear title to the premises, also called a general warranty deed. Water Rights are common law rights of owners of land adjacent to rivers, lakes, or oceans, and includes restrictions on those rights and land ownership. Water Table is the natural level at which the water is located whether it … Continue reading...

Definitions Of Key Real Estate Terms Beginning With A Number This article provides the definitions of key estate terms beginning with a number. 721 Exchange is the IRS code, section 721 which permits an investor to contribute a property a partnership.  The investor obtains interest in the partnership called operating partnerships.  721 exchanges are often used by Real Estate Investment Trusts or REITs. 1031 Exchange is a swap of one real estate investment property for another that allows capital gains taxes to be deferred. Myers & Myers Real Estate We have some of the best in the business. … Continue reading...

Definitions Of Key Real Estate Terms R This article provides the definitions of key estate terms beginning with the letter R. Radon is a natural occurring gas that may cause health problems. Ready, Willing, and Ready Buyer is one shoe is prepared to buy real estate on the seller's terms and take the steps to consummate the transaction. Real Estate is a legal term that encompasses land along with improvements to the land, such as buildings, fences, wells and other site improvements that are fixed in location. Real Estate Owned (REO) is a term used to describe real property acquired by … Continue reading...

Definitions Of Key Real Estate Terms N This article provides the definitions of key estate terms beginning with the letter N. Net Lease is a lease requiring the tenant to pay all costs including maintaining the property, property taxes, utilities, repairs, insurance, and the lease payment. Net Listing is a listing base on the net price the seller will receive if the property is sold. Net Operating Income is the income after subtracting from gross income all fixed expenses such as maintenance, property taxes, operating expenses, bad debts, and vacancy allowance. Net Worth is the value after … Continue reading...

Definitions Of Key Real Estate Terms E This article provides the definitions of key estate terms beginning with the letter E. Early Occupancy refers to the practice of allowing the buyer to take possession of real property before closing. Earnest Money is the cash deposit paid by the prospective buyer of real property as evidence of a good faith intention to complete the transaction. Easement is a right to use the land of another for a specific purpose such as for the right of utilities to install and maintain equipment. Easement by Condemnation is an easement created by the government or … Continue reading...