In real estate law, a writ of ejectment is a legal action brought to recover possession of real property. It is used when one party seeks to remove another who is unlawfully occupying the premises. A writ of ejectment is issued by a court and authorizes the...

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...

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...

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...

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,...

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...

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...

In real estate finance, warehousing refers to the practice of a lender, such as a mortgage company, depositing newly originated loans with a bank or other financial institution prior to selling them on the secondary market. During this period, the mortgage company...

In real estate and contract law, to waive means to voluntarily relinquish or abandon a known right. A party who waives a right chooses not to enforce or require performance of a particular provision. A waiver may be express, stated clearly in writing or verbally, or...

In real estate and building construction, wainscoting is a decorative wood lining applied to the lower portion of an interior wall. It is typically installed when the lower section of the wall is finished differently from the upper portion. Wainscoting serves both...