LATEST STORIES
Land Sale Contract
In real estate, a Land Sale Contract is an installment agreement in which the buyer agrees to purchase property by making periodic payments to the seller over time. The seller, also known as the vendor, retains legal title to the property until the purchase price is...
Gable Roof
In real estate and construction, a Gable Roof is a type of pitched roof characterized by two...
Future Advance Clause
In real estate finance, a Future Advance Clause is a provision in a mortgage or deed of trust that...
Baseline and Meridian Line
Imaginary lines used by surveyors to find and describe the location of private or public lands. In government surveys, a baseline runs due east and west, meridians run due north and south, and are used to establish township boundaries.
Bargain and Sale Deed
A bargain and sale deed is a type of real estate deed that transfers ownership of a property from a seller to a buyer without guaranteeing that the title is free of problems. It says, in effect, “I own this property and I’m transferring it to you,” but it does not...
Band of Investment
A band of investment is used in real estate valuation, most often used in commercial appraisal. A band of investment is a way to estimate how much return an investment property needs to generate for the investor by looking at how it is paid for. Most income-producing...
Balloon Payment
A lump sum payment made on a balloon note. This lump sum is the reason for the name “balloon” note, since this large, lump “balloon” sum is required to fully pay off the loan. Usually this payment is due at the end of the term of a note. In a balloon note, the...
Balloon Note, Balloon Mortgage
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...
Backup Offer
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...
Avulsion
Avulsion is a legal term in real estate that describes the sudden and noticeable change in land caused by the rapid action of water. This typically occurs when a river, stream, or other body of water abruptly changes its course due to events such as floods, storms, or...
Attorney in Fact
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...
Attest
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...
Attachment
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...
HUD
HOUSING & URBAN DEVELOPMENT
HUD
(Department of Housing and Urban Development)
Stay Up to Date with the Latest Stories, News & Updates from OnlineEd
Why Use OnlineEd?
Thousands of real estate professionals turn to us for their continuing education.
Follow Us
Keep updated on Real Estate related matters on our social media platforms: