In real estate law, a voluntary lien is a lien placed against property by the deliberate act of the property owner. It arises from an agreement rather than by operation of law. The most common examples of voluntary liens are mortgages and deeds of trust, which are...

In real estate and contract law, void refers to an agreement or act that has no legal force or effect. A void contract is treated as though it never existed and cannot be enforced by any party. An agreement may be void due to illegality, lack of capacity, or failure...

In real estate and legal usage, vested refers to a right or interest that has been granted to and secured by a person. A vested interest is fixed and not subject to being taken away without due process. In property law, title or other ownership rights are considered...

In real estate transactions, a vendor is the seller or person who transfers property by sale. The term is commonly used in connection with land contract or installment sale arrangements. In a land contract, the vendor retains legal title to the property until the...

In real estate transactions, a vendee is the purchaser of property, particularly in the context of a land contract or installment sale agreement. The vendee agrees to make payments over time in exchange for the right to acquire title. Under a land contract, the vendee...

In real estate and land use regulation, a variance is a modification or exception granted from specific zoning requirements for a particular property. It allows the property owner to deviate from certain standards without changing the underlying zoning classification....

In real estate finance, a variable interest rate is an interest rate that changes over time in response to movements in prevailing market rates. The rate may increase or decrease depending on the terms of the loan and the underlying index to which it is tied. In...

In real estate, valuation is the process of estimating the value of property. It involves analyzing relevant data to determine a property’s worth as of a specific date. Valuation is commonly performed through an appraisal, which applies recognized methods and...

In real estate and legal practice, valid refers to something that has legal force or binding effect. A valid document, agreement, or action is legally sufficient and recognized as authorized by law. For a contract or instrument to be valid, it must meet the required...

In real estate finance, a V.A. loan is a housing loan made to an eligible veteran by a bank, savings and loan association, or other approved lender. The loan is guaranteed by the Department of Veterans Affairs, which reduces the lender’s risk. Because of the...