Definition: one of the primary units of measurement in the government survey system of land description; a section is one mile square and contains 640 acres Pronunciation: \ˈsek-shən\ Used in a Sentence: A section is 1/36 of a..
Definition: The SAFE Act sets a minimum standard for licensing and registering mortgage loan originators Pronunciation: Used in a..
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..
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 ..