Acreage refers to the measurement of land specifically denoting parcels over one acre, commonly used in agricultural, rural, and development scenarios to define and quantify large plots of land.
A Conditional Estate, also known as Fee Simple Defeasible, is a type of ownership where the owner's rights may be revoked upon the occurrence or non-occurrence of a particular event.
DRY CLOSING refers to a real estate closing without the actual immediate exchange of property and funds, where parties meet and provide assurances that the transaction will occur according to the previously negotiated sales contract.
An insured mortgage is a type of home loan that is backed by either private mortgage insurance or government mortgage insurance programs to protect lenders against borrower default.
An involuntary lien is a legal claim against property imposed without the owner's consent, often due to unpaid obligations like taxes or special assessments.
Land encompasses any part of the Earth's surface that is not covered by water. It is a fundamental real estate term that includes the ground itself, soil, and any other sub-surface materials.
An MAI Appraisal is an appraisal conducted by an individual holding the MAI designation from the Appraisal Institute, indicating that the appraiser has met rigorous education, experience, and ethical standards.
A mortgagee is an entity or individual who lends money to a borrower to purchase real estate and holds a lien on the property or title as security for the debt.
The term 'premises' in real estate refers to land and tenements; an estate; the subject matter of a conveyance.
Property refers to the legal rights an individual or entity has over certain resources, including real estate and personal belongings. These rights allow the owner to use, enjoy, and dispose of their property as they see fit, subject to certain restrictions enforced by law.
Real estate refers to land and anything attached to it, including buildings and other structures. It encompasses ownership, use, and transfer of physical property. Real estate business activities include accounting, appraisal, legal advising, brokerage, counseling, regulation, and financing.
Realty, also known as real estate, encompasses properties consisting of land and buildings on it, along with its natural resources like crops, minerals, or water. Realty is a crucial component of the economy and plays a significant role in investment, development, and personal wealth management.
