Definition: evidence of a debt or of ownership Pronunciation: \si-ˈkyu̇r-ə-tē\ Used in a Sentence: To raise additional funds new owners will often invest in a..
Category : S
Definition: a covenant in a deed that warrants that the grantor holds the property by virtue of a fee simple title and has a complete right to dispose of same Pronunciation: \ˈsē-zən\ Used in a Sentence: Seisen is no generally synonymous with ..
Definition: an economic situation that favors the seller because the demand for property is greater than the supply Pronunciation: Used in a Sentence: We were able to get a higher price for our house because it was a seller’..
Definition: property held individually, as opposed to community property or property held jointly Pronunciation: \ˈse-p(ə-)ˌrāt\ \ˈprä-pər-tē\ Used in a Sentence: When Sue and Mike got married the lake house she owned was considered separate..
Definition: businesses that attract local money (e.g. , grocery stores, retail shops) Pronunciation: Used in a Sentence: Destination properties, such as grocery stores, are a type of service industry that benefits local co..
Definition: a disclosure statement given to borrowers that stipulates whether the lender intends to service the loan or transfer it to another lender or servicing company Pronunciation: Used in a Sentence: The servicing disclosure statement we were given advised our loan would be transferred to anoth..
Definition: zoning restrictions on the amount of land required surrounding improvements; the amount of space required between the lot line and the building line Pronunciation: \ˈset-ˌbak\ Used in a Sentence: The subdivision had a setback of 12 feet between the house and the prop..
Definition: sole ownership of real property Pronunciation: \ˈsev-rəl-tē\ Used in a Sentence: Since Joe was the sole owner of the property, he had an estate in ..
Definition: the act of removing something attached to the land or of terminating a relationship Pronunciation: \ˈsev-rən(t)s\ Used in a Sentence: When a fence is removed, there is a severance of the fence from the real..
Definition: a sale of secured real property that produces less money than is owed the lender. The lender releases its mortgage so that the property can be sold free and clear to the new purchaser. Pronunciation: Used in a Sentence: We were able to purchase the house for a low price because it was ..