In real estate law, quiet enjoyment is the right of a property owner or tenant to use and occupy property without interference or disturbance of possession. This right is implied in most ownership and lease arrangements. Quiet enjoyment protects against actions that...

In real estate appraisal and construction, a quantity survey is a detailed and technical method used to estimate the cost of new construction. It involves calculating the exact quantities of materials required, such as lumber, drywall, brick, and concrete, along with...

In real estate finance, a purchase money mortgage is a security instrument given by a buyer to a seller to secure payment of all or part of the property’s purchase price. Instead of obtaining financing from a third party lender, the buyer borrows directly from the...

In real estate transactions, a purchase agreement is a contract between a buyer and a seller for the sale of real property. It sets forth the agreed upon price and the essential terms and conditions of the transaction. The purchase agreement typically includes...

In real estate practice, puffing refers to statements of opinion or exaggeration that are intended to promote or enhance the perceived value of a property. These statements are not presented as representations of fact. Puffing is generally considered permissible...

In real estate law, public records are official records maintained by government agencies that provide information relating to land and property interests. By law, these records impart constructive notice of matters affecting title or use of real property. Public...

In real estate and housing policy, public housing refers to residential developments that are owned, operated, or subsidized by government entities. These projects are typically intended to provide safe and affordable housing for low income individuals and families....

In real estate and investment practice, a prospectus is a written brochure or document prepared to provide prospective investors with detailed information about an investment offering. It outlines the essential facts needed to evaluate the opportunity. A prospectus...

In real estate transactions, proration is the process of dividing expenses and income related to property ownership between the buyer and seller. Items commonly prorated include property taxes, insurance premiums, rent, and similar charges. Proration is calculated...

In real estate and legal usage, property refers to everything that is capable of being owned and lawfully acquired. It encompasses not only the physical object itself but also the rights associated with ownership. These rights include the ability to use, possess,...