Definition: Guarantees mortgage loans to encourage private lending agencies to give liberal mortgages to veterans and their spouses. Pronunciation: Used in a Sentence: Because of his military background he was able to apply for ..
Definition: Earnest money or some other valuable consideration given as proof of good faith to go along with an offer to purchase or rent. See also binder and earnest money. Pronunciation: \di-ˈpä-zət\ Used in a Sentence: She was interested in buying the house so she gave the agent ..
Definition: Testimony taken down in writing under oath. Pronunciation: \ˌde-pə-ˈzi-shən, ˌdē-pə-\ Used in a Sentence: The attorney took a deposition from th..
Definition: To lower the price or estimated value, a deduction for tax purposes. Pronunciation: \di-prē-shē-ˈā-shən\ Used in a Sentence: We were entitled to a depreciation deduction due to the deterioration of the..
Definition: The passing of title to real property upon the death of the owner to the legal heirs Pronunciation: \di-ˈsent\ Used in a Sentence: Rights under laws of descent vary from state..
Definition: Two real estate licensees assigned to represent the buyer and seller as single agents in a nonresidential transaction. The buyer and seller must have assets of $1 million or more and sign disclosures declaring their assets meet the mandatory threshold. Pronunciation: \ˈde-zig-ˌnāt-ed\ \ə-ˈsō-shē-ˌāt, -sē-\ Used in a Sentence: By having designated sales associates for the transaction, ..
Definition: Any development that because of its nature, scale or location could have a significant effect on the health, safety and welfare of citizens of more than one county. Pronunciation: Used in a Sentence: Developments of regional impact, such as a shopping center, must obtain regional planning approval before they ..
Definition: A transfer of real property under a will. Pronunciation: \di-ˈvīz\ Used in a Sentence: My sister and I inherited the property from our mother ..
Definition: One who receives real property under a will. Pronunciation: \ˌde-və-ˈzē, di-ˌvī-ˈzē\ Used in a Sentence: The owner’s son inherited the property because he was a devisee on..
Definition: One who gives real property by will. Pronunciation: \ˌde-və-ˈzȯr; di-ˈvī-zər, -ˌvī-ˈzȯr\ Used in a Sentence: The devisor’s will left his property to his..