The Real Estate
Encyclopedia: A-E

In real estate and marital property law, community property refers to property acquired by either spouse, or both spouses together, during the course of a marriage, except for property that qualifies as separate property. Each spouse holds an equal, undivided...

Common law is the body of law that originated in England and developed over time through judicial decisions based on customs, traditions, and court rulings rather than through written statutes alone. It evolved from long-standing practices used by English courts to...

In real estate, a common area refers to all portions of a common interest subdivision that are owned or used collectively by the individual property owners, rather than by any single owner. This typically includes areas such as hallways, lobbies, recreational...

In real estate practice, a commitment is a binding pledge or firm agreement to perform a specific action in the future under stated terms and conditions. Most commonly, the term refers to a lender’s written loan commitment, in which the lender agrees to provide...

In real estate practice, commingling refers to the improper mixing of trust funds with personal or business funds, in violation of fiduciary and legal requirements. This occurs when a broker or agent deposits personal or office money into a trust account or,...

In finance and real estate, commercial paper refers to negotiable financial instruments used in business transactions, most commonly promissory notes. These instruments represent a written, legally enforceable promise to pay a specified sum of money either on demand...

In real estate and finance, a commercial loan is a type of loan made by a commercial bank primarily for business purposes rather than for the purchase or financing of real property. These loans are often unsecured, meaning they are not backed by real estate or other...

In real estate law, color of title refers to a claim to ownership that appears to be valid based on a written document, such as a deed or court judgment, but is legally defective and does not convey true title. The defect may arise from issues such as improper...

In real estate and lending, collateral refers to marketable real or personal property that a borrower pledges to a lender as security for the repayment of a loan. The collateral gives the lender a legal claim to the property in the event the borrower defaults on the...

A code of ethics is a formal set of rules and principles that establishes standards of professional conduct for members of a particular profession and governs their responsibilities to clients, colleagues, and the public. It outlines expectations for honesty,...