Key Real Estate Terms W | Myers & Myers Real Estate
Key Real Estate Terms W
This article provides the definition of key estate terms beginning with the letter W.
Walk Through
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 be below the ground or above the ground.
Will
is a written document that is properly witnessed and provides for the transfer of real and personal property owned by the deceased.
Working Capital
is the liquid assets available for the day to day operations of a business.
Work Out Plan
is an attempt by a mortgagee to assist a mortgagor in default to work out a payment plan rather than proceed directly with a foreclosure.
Wrap Around Loan
is a method of financing a property in which the new mortgage is placed in a secondary position. The new mortgage includes both the unpaid principal of the first mortgage and any additional sums are advanced by the lender.
Writ of Execution
is a court order authorizing and directing an officer of the court to levy and sell property of the defendant to satisfy a judgment.
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