In real estate and land surveying, a survey is the process of measuring and mapping the boundaries of a parcel of land. It identifies the location, dimensions, and area of the property. A survey may also include information about topography, improvements, easements,...

In real estate and contract law, a surety is a person or entity that guarantees the performance or obligations of another party. The surety agrees to be responsible if the primary party fails to perform as required. Sureties are commonly involved in construction and...

In real estate appraisal, the principle of supply and demand states that market value is determined by the interaction of available properties and the demand for them. The balance between these forces influences price levels in the marketplace. As of the appraisal...

In real estate appraisal, the principle of substitution states that the maximum value of a property is limited by the cost of acquiring an equally desirable substitute property. A buyer will not pay more for a property than the cost of obtaining a comparable...

In real estate and legal practice, subrogation is the substitution of one person or entity for another with respect to a legal right or obligation. The party stepping into the position of another acquires the same rights and remedies that the original party possessed....

In real estate and legal usage, subordinate means to make one interest subject to, or lower in priority than, another interest. A subordinate interest is junior or inferior in rank. Subordination commonly applies to liens, mortgages, or lease interests. When an...

In real estate law, a sublease is a lease agreement in which the tenant under an existing lease, known as the lessee, becomes the lessor to another party. The original lessee leases all or part of the property to a subtenant. Under a sublease, the original lease...

In real estate and land development, a subdivision is the division of a single parcel of land into smaller parcels or lots. This process is typically carried out by preparing and filing a map that shows the proposed division. Creating a subdivision requires approval...

In real estate and construction, a subcontractor is a contractor who performs specialized work under a general contractor. Subcontractors are typically responsible for specific trades such as electrical, plumbing, cement, or other skilled services. The subcontractor’s...

In real estate and agency law, a subagent is a person to whom an agent has delegated authority, with the permission of the principal. The subagent’s powers are not granted directly by the principal, but flow through the original agent. A subagent owes fiduciary duties...