The Real Estate
Encyclopedia: A-E
Dictionary
A - E
F - J
K - O
P - T
U - Z
Debtor
In real estate and finance, a debtor is an individual or entity that owes money to another party, typically as a result of borrowing funds to purchase property or secure a loan. The debtor is legally obligated to repay the borrowed amount, along with any interest and...
Debt Service
In real estate, debt service refers to the total amount of money required to pay a property’s financing obligations over a given period of time. This includes both principal and interest payments on loans secured by the property, such as mortgages or other forms of...
Covenant
In real estate, a covenant is a legally binding agreement or promise that requires a property owner to do or refrain from doing a specific act. Covenants often relate to how property may be used or improved, such as a requirement to construct a home in a particular...
Counteroffer
In real estate transactions, a counteroffer is a response to an initial offer that proposes different terms rather than accepting the original offer as presented. By making a counteroffer, the responding party—whether buyer or seller—rejects the original offer and...
Co-Tenancy
In real estate, co-tenancy refers to a form of property ownership in which two or more individuals hold ownership interests in the same parcel of land at the same time. Each co-tenant has the right to possess and use the entire property, regardless of the size of...
Cost Approach
In real estate appraisal, the cost approach is a method used to estimate a property’s value by calculating the cost to replace or reproduce the existing structure, subtracting accrued depreciation, and then adding the value of the land. The underlying principle is...
Co-signer
In real estate, a co-signer is a second party who signs a promissory note along with the primary borrower to help secure financing for a property. By co-signing, this individual agrees to be legally responsible for the loan obligations, even though they may not have...
Corporation
In real estate, a corporation is a legal entity created under state law that is treated as a separate and distinct individual from the people who own or manage it. This separation means the corporation has its own rights, responsibilities, and liabilities independent...
Cooperative
In real estate, a cooperative (often called a “co-op”) is a form of property ownership in which an apartment building is owned by a corporation rather than by individual unit owners. Instead of purchasing real property, a buyer purchases shares of stock in the...
Conveyance
In real estate, conveyance refers to the legal process by which ownership of property (the title) is transferred from one party, known as the seller or grantor, to another, known as the buyer or grantee. This transfer is accomplished primarily through a written legal...