| 4 | | A | | B | | C | | D | | E | | F | | G | | H | | I | | J | | K | | L | | M | | N | | O | | P | | Q | | R | | S | | T | | U | | V | | W | | Z | | ALL |
A |
| Abstract of judgment,law The summary of a court judgment that creates a lien against a property when filed with the county recorder. |
| Accelerated cost recovery system A tax calculation that provides greater depreciation in the early years of ownership of real estate or personal property. |
| Acceleration clause A provision that gives a lender the right to collect the balance of a loan if a borrower misses a payment. |
| Accelerated depreciation A bookkeeping method that depreciates property faster in the early years of ownership. |
| Acceptance The seller's written approval of a buyer's offer. |
| Access Any means by which a person can enter property. |
| Accessibility The degree to which a building or site allows access to people with disabilities. |
| Accretion The gradual addition to the shore or bank of a waterway by deposits of sand or silt. |
| Acknowledgment A written declaration affirming that a person acted voluntarily. |
| Acre A measurement of land equal to 43,560 square feet. |
| Acre foot The volume of material needed to cover an acre of land one foot deep. |
| Active solar system A system that utilizes electric pumps or fans to transfer solar energy for storage or direct use. |
| Actual age The number of years a structure has been standing. |
| Addendum An addition or change to a contract. |
| Additional principal payment Extra money included in the monthly payment to help reduce the principal and shorten the term of the loan. |
| Add-on interest The interest a borrower pays on the principal for the duration of the loan. |
| Adjustable-rate mortgage (ARM) A loan with an interest rate that is periodically adjusted to reflect changes in a specified financial index. |
| Adjusted cost basis The cost of any improvements the seller makes to the property. Deducting the cost from the original sales price provides the profit or loss of a home when it is sold. |
| Adjustment period The amount of time between interest rate adjustments in an adjustable-rate mortgage. |
| Administrator A person given authority to manage and distribute the estate of someone who died without leaving a will. |
| Administrator's deed A legal document that an administrator of an estate uses to transfer property. |
| Adverse possession The acquisition of title to property through possession without the owner's consent for a certain period of time. |
| Adverse use The access and use of property without the owner's consent. |
| Aeolian soil Soil that is composed of materials deposited by the wind. |
| Affiant A person who makes a sworn statement. |
| Affirmation A substitution for an oath granted to people based on religious reasons. |
| A-frame design An interior style that features a steeply peaked roofline and a ceiling that is open to the top rafters. |
| Agency The relationship of trust that exists between sellers and buyers and their agents. The agency is formed through a written contract. |
| Agency closing The process by which a lender uses a title company or other firm as an agent to complete a loan. |
| Agent A person licensed by the state to conduct real estate transactions. |
| Agreed boundary A compromise boundary to which property owners agree in order to resolve a dispute. |
| Agreement of sale A document the buyer initiates and the seller approves that details the price and terms of the transaction. |
| Alcove A recessed section of a room, such as a breakfast nook. |
| Alienation clause A provision that requires the borrower to pay the balance of the loan in a lump sum after the property is sold or transferred. |
| Alkali Mineral salt found in soil. |
| Alkaline soil Soil that contains a higher concentration of mineral salt than natural acid. |
| Alley A lane behind a row of buildings or between two rows of buildings. |
| Allowances Budgets offered by builders of new homes for the purchase of carpeting and fixtures. |
| Alternative mortgage Any home loan that does not conform to a standard fixed-rate mortgage. |
| Aluminum-clad windows Wooden windows with aluminum covering the exterior. |
| Aluminum siding A metal covering that provides an alternative to paint for owners of wood homes. |
| Amenities Parks, swimming pools, health-club facilities, party rooms, bike paths, community centers and other enticements offered by builders of planned developments. |
| American Society of Home Inspectors The American Society of Home Inspectors is a professional association of independent home inspectors. Phone: (800) 743-2744. |
| Americans with Disabilities Act A law passed in 1990 that outlaws discrimination against a person with a disability in housing, public accommodations, employment, government services, transportation and telecommunications. |
| Amortization The process of paying the principal and interest on a loan through regularly scheduled installments. |
| Amortization tables Mathematical tables that lenders use to calculate a borrower's monthly payment. |
| Amperage The strength of an electrical current. |
| Anchor bolt A large steel bolt anchored in concrete and attached to a building to prevent the structure from moving. |
| Annual Any kind of plant that must be planted every year. |
| Annual mortgagor statement A yearly statement to borrowers that details the remaining principal and amounts paid for taxes and interest. |
| Annual Percentage Rate (APR) The cost of the loan expressed as a yearly rate on the balance of the loan. |
| Annuity The payment of a fixed sum to an investor at regular intervals. |
| Anticipatory breach A communication that informs a party that the obligations of the original contract will not be fulfilled. |
| Application A document that details a potential borrower's income, debt and other obligations to determine credit worthiness. |
| Application fee The fee that a lender charges to process a loan application. |
| Appraisal An opinion of the value of a property at a given point in time. |
| Appraisal fee The fee that an appraiser charges to estimate the market value of the property. |
| Appraisal report A detailed written report on the value of a property based on recent sales of comparable sites in the area. |
| Appraised value An opinion of the current market value of a property. |
| Appreciation An increase in the value of a home or other property.. |
| Arbitration A method of resolving a dispute in which a third party renders a decision. |
| Arbor An area shaded by trees, shrubs or vines on a latticework structure. |
| Arch A curved structure that supports weight over an area, such as a doorway. |
| Architect A licensed professional who designs homes, buildings and other structures. |
| Architectural fees The fee an architect charges for services. In general, architects charge for their services by the hour, by the square foot, or by a percentage of the project budget. |
| Arpent A French measurement of land equal to .84625 acres. |
| Asbestos A fire-resistant mineral used for insulation and home products that has been found to pose a health hazard. |
| As-is condition The purchase or sale of a property in its existing condition. |
| Asking price A seller's initial price for a property. |
| Assessed value A tax assessor's determination of the value of a home in order to calculate a tax base. |
| Assessment The estimated value of a piece of real estate or a levy placed on property in addition to taxes. |
| Assessment rolls A list of taxable property compiled by the assessor. |
| Assets Items of value which include cash, real estate, securities and investments. |
| Assignor A person who transfers rights and interests of a property. |
| Assumable mortgage A mortgage that can be transferred to another borrower. |
| Assumption clause A provision that allows a buyer to take responsibility for the mortgage from a seller. |
| Assumption fee A fee the lender charges to process new records for a buyer who assumes an existing loan. |
| Average price The price of a home determined by totaling the sales prices of all houses sold in an area and dividing that number by the number of homes. |
| Avigation easement An easement over private property near an airport that limits the height of structures and trees. |
| Awning windows Single-sash windows that tilt outward and up. |