by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia, Real Estate
A note calling for periodic payments which are insufficient to fully amortize the loan, so that a principal sum known as a balloon is due at maturity. A balloon note is a loan arrangement in which the borrower makes regular monthly payments—often based on a longer...
by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia, Real Estate
A secondary offer to buy property, used in case the first offer fails. A backup offer is an offer submitted on a property after the seller has already accepted another offer. It is designed to take effect only if the primary, accepted contract falls through. In...
by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia
A sudden and perceptible loss of land by the action of water as by a sudden change in the course of a river.
by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia
One who is authorized by another to perform certain acts for another under a power of attorney; power of attorney may be limited to a specific act or acts or be general. In real estate, an attorney in fact is a person authorized to act on someone else’s behalf in...
by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia
To affirm to be true or genuine; an official act establishing authenticity. In real estate, to attest means to officially witness and confirm the signing of a document, often by signing as a witness to verify that the person who signed did so voluntarily and is the...
by Ethan Atkinson | Jan 17, 2026 | A-E, PropertyPedia
The process by which real or personal property of a party to a lawsuit is seized and retained in the custody of the court for the purpose of acquiring jurisdiction over the property, to compel an appearance before the court, or to furnish security for a debt or costs...
