© 2020 Coldwell Banker Mason Morse. Inter alia: Latin meaning "among other things".

,random Landlord: An owner who has leased an estate-in-land to a tenant. Our new online dictionaries for schools provide a safe and appropriate environment for children.

National forest: A forest or watershed reservation administered by the Forest Service, United States Department of Agriculture. Joint tenancy:A type of co-ownership of real property featuring a right of survivorship and four unities (time, title, interest and possession). Listing: An agreement or contract of employment, either oral or written, whereby the owner authorizes the real estate broker to sell, exchange or lease real estate. All rights reserved. Amaze your friends with your new-found knowledge! Open listing: A non-exclusive employment agreement in which an owner retains the right to list the property with other brokers. Limited agent: An agent whose duties and obligations to a principal are only those set forth in C.R.S. You can get a certain insight into human nature from analysing the words that people look up in dictionaries. Yes – Some of them are very Weird! Optionor: One who grants an option to another, usually the land owner. As a real estate investor, it is important to understand how assets are valued to make well-informed investment decisions.

Lessor: Party who conveys a right or estate in realty to a lessee under a lease; commonly referred to as landlord. Percolation (perc) test: Determines if soil will take sufficient water seepage for use of a septic tank. Plat: A parcel or plot of land; also a method of land description referring to a recorded map (plat) of a subdivision or town which lays out boundaries, streets, easements etc. Indemnify: To insure; to secure against loss. They are used often in advertisements and on the multiple listing service sites in the descriptions of a property. November is the eleventh month of the year in the Western calendar . Copyright © 2010 by Webster’s New World College Dictionary, 4th Edition. 12-61-804 or 12-61-805, with any additional duties and obligations agreed … ...the most spectacular piece of real estate he had ever imagined. This method starts from a well-marked point of beginning and follows the boundaries of the land until it returns once more to the point of beginning. Metes and bounds: A method of describing or locating real property; metes are measures of length and bounds are boundaries. Judgment: Final declaration of the rights of the parties by a court.

Multiple listing service (MLS): A marketing arrangement among real estate brokers whereby a seller authorizes the listing broker to share information and a pre-determined portion of a commission to any broker cooperating in the sale of the property. Mutual assent,(meeting of the minds): Agreement of the parties to the contract, mutually consenting to be bound by its exact terms; an essential contract element .

Negotiable instrument: A written instrument containing a promise of payment, which can be endorsed from one person to another. All Rights Reserved. Learn more about real estate. Create an account and sign in to access this FREE content. Mortgagor: The party who gives a mortgage (borrower) conveying interest in the property to the lender as security for the obligation to repay a loan or fulfill some obligation.

What does ORW stand for? By investing in real estate, he became one of the richest men in the the country. Mortgage: A conditional conveyance of property as security for the payment of a debt or the fulfillment of some obligation. Net listing: A listing contract whereby the owner is to receive a certain net price, with the broker receiving any excess over and above the net price as commission.

Power of attorney: A legal instrument authorizing another person to act in place of the person drawing the instrument. Such a mortgage becomes a lien on the property simultaneously with the passing of title, and if immediately recorded becomes prior to any lien against the purchaser. Purchase money mortgage: A mortgage given by the purchaser to secure a loan for part or all of the purchase price. Percentage lease: A commercial lease of property in which the rent is based upon a percentage of the sales volume derived from the leased premises. Each Office is Independently Owned and Operated.

The following list contains some of the abbreviations which are commonly used in the real estate industry. Land: Real property; all below the surface, the surface and the airspace above it, and that which is affixed to it permanently; synonymous with "real property", "realty", and "real estate" often used to mean only the unimproved surface of the earth. Real estate refers broadly to the property, land, buildings, and air rights that are above land, and the underground rights below it. All the latest wordy news, linguistic insights, offers and competitions every month. Examples: NFL, There are two key metrics that should be used when completing that assessment. Public trustee: A county official to whom borrowers convey title to real property by trust deed for the benefit of the beneficiary (lender). Acronym Finder, All Rights Reserved. Here are the most common abbreviations used in real estate. There are some words that seem to be of perennial interest, so if you compare the list of words that were looked up most often in March with the words that were looked up most often in September, you will find a lot of words appearing on both lists. Feedback, The World's most comprehensive professionally edited abbreviations and acronyms database, Ohio Reformatory for Women (Marysville, OH), Operation Rescue West (Christian activist organization; now Operation Rescue). 12-61-804 or 12-61-805, with any additional duties and obligations agreed to pursuant to section 12-61-803 (5). Personal property: All that is not real property; items of a temporary or movable nature. Coldwell Banker Mason Morse fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Limited agent: An agent whose duties and obligations to a principal are only those set forth in C.R.S.

Offer: To present for sale; or a proposal presented for acceptance or rejection which, if accepted, will form a binding contract.

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