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Assessed value: The value of real estate property as determined by an assessor, typically from the county. "As-is": A contract or listing clause stating that the seller will not repair or correct ...
Real estate is property consisting of land and the buildings on it, along with its natural resources such as growing crops (e.g. timber), minerals or water, and wild animals; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general.
Abbreviations and Acronyms of the U.S. Government (maintained by U.S. Government Publishing Office) The Cardiff Index to Legal Abbreviations (maintained by Cardiff University). Common Abbreviations and Legal Citation Examples for Selected Federal Government Documents: Legislative, Regulatory and Statutory (maintained by LLSDC.org)
et al. and others Abbreviation of et alii, meaning "and others". et cetera: and other things Generally used in the sense of "and so forth". et seq. and the following things Abbreviation of et sequens, meaning "and the following ones". Used in citations to indicate that the cited portion extends to the pages following the cited page.
Here are 15 real estate terms you need to know. Real Estate Agent Professional who represents the seller (listing agent) or buyer (buyer’s agent) in a real estate transaction.
A real estate transaction is the process whereby rights in a unit of property (or designated real estate) are transferred between two or more parties, e.g., in the case of conveyance, one party being the seller(s) and the other being the buyer(s). It can often be quite complicated due to the complexity of the property rights being transferred ...
A tenant enjoying an undivided estate in some property after the termination of some estate of limited term is said to have a "future interest". Two important types of future interests are: Reversion: A reversion arises when a tenant grants an estate of a lesser maximum term than his own. Ownership of the land returns to the original tenant ...
The plat map is then officially recorded with a government entity such as a city engineer or a recorder of deeds. This plan becomes the legal description of all the lots in the subdivision. A mere reference to the individual lot and the map's place of record is all that is required for a proper legal description.