by Ethan Atkinson | Feb 15, 2026 | PropertyPedia, U-Z
In real estate finance, a wrap around mortgage is a junior or second mortgage that includes within its face amount both the new loan it secures and the unpaid balance of an existing first mortgage. The original loan remains in place, but it is incorporated into the...
by Ethan Atkinson | Feb 15, 2026 | PropertyPedia, U-Z
In real estate and probate law, a will is a written legal declaration in which a person sets forth instructions for the distribution of property after death. It expresses the individual’s intentions regarding the disposition of real and personal property. A valid will...
by Ethan Atkinson | Feb 15, 2026 | PropertyPedia, U-Z
In real estate and property management, wear and tear refers to the gradual depreciation or deterioration of an asset resulting from normal and ordinary use. It reflects the expected aging and use of property over time. Wear and tear does not include damage caused by...
by Ethan Atkinson | Feb 15, 2026 | PropertyPedia, U-Z
The water table refers to the distance from the surface of the ground to the level at which natural groundwater is encountered. It represents the upper surface of the zone of saturation beneath the earth’s surface. The depth of the water table can affect construction,...
by Ethan Atkinson | Feb 15, 2026 | PropertyPedia, U-Z
In real estate law, waste refers to the destruction, material alteration, or injury to property by a tenant or other party in possession. It involves conduct that damages or substantially reduces the value of the premises beyond ordinary wear and tear. Waste may occur...
by Ethan Atkinson | Feb 15, 2026 | PropertyPedia, U-Z
In real estate law, a warranty deed is a form of deed used to convey fee simple title to real property. It provides assurances from the grantor that the title is clear and that the grantor has the legal right to transfer the property. A warranty deed typically...
