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Real Estate Glossary
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| Term |
Definition |
| Abstract of judgment,law |
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| The summary of a court judgment that creates a lien against a property when filed with the county recorder. |
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| Accelerated cost recovery system |
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| A tax calculation that provides greater depreciation in the early years of ownership of real estate or personal property. |
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| A provision that gives a lender the right to collect the balance of a loan if a borrower misses a payment. |
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| A bookkeeping method that depreciates property faster in the early years of ownership. |
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| The seller's written approval of a buyer's offer. |
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| Any means by which a person can enter property. |
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| The degree to which a building or site allows access to people with disabilities. |
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| The gradual addition to the shore or bank of a waterway by deposits of sand or silt. |
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| A written declaration affirming that a person acted voluntarily. |
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| A measurement of land equal to 43,560 square feet. |
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| The volume of material needed to cover an acre of land one foot deep. |
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| A system that utilizes electric pumps or fans to transfer solar energy for storage or direct use. |
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| The number of years a structure has been standing. |
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| An addition or change to a contract. |
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| Additional principal payment |
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| Extra money included in the monthly payment to help reduce the principal and shorten the term of the loan. |
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| * Glossary Services are provided
by Inman News, Real Estate News Service |
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