The Real Estate
Encyclopedia: P-T

In real estate appraisal, reproduction cost refers to the estimated cost of constructing an exact replica of an existing property using the same design, materials, and workmanship at current prices. It reflects what it would cost to reproduce the property as it was...

In real estate and legal practice, replevin refers to the recovery or repossession of property through a court action. It is a legal remedy used to regain possession of property that is wrongfully held by another party. Replevin most commonly applies to personal...

In real estate appraisal, replacement cost is the estimated cost of constructing a substitute property that is either identical to or provides equal utility to the subject property. It reflects what it would cost, at current prices, to replace the property’s...

In real estate law, rent is the consideration paid by a tenant for the right to occupy and use real property. It is typically paid at regular intervals, such as monthly, as agreed in a lease or rental agreement. Rent represents the tenant’s compensation to the...

In real estate and construction, remodeling refers to improving a structure by altering its design, layout, characteristics, or function. It involves changes that go beyond basic repair or maintenance. Remodeling is distinguished from reconditioning, which restores a...

In real estate appraisal, remaining economic life refers to the estimated number of years from the date of an appraisal until an improvement is no longer economically useful. It represents the period during which the property is expected to contribute value through...

In real estate law, a remainder is a future interest in property that becomes possessory after the termination of a prior estate, such as a life estate. It is created at the same time as the prior estate and is intended to take effect automatically when that estate...

In real estate finance, a release clause is a provision in a blanket mortgage or other blanket encumbrance that permits the release of individual parcels from the lien. The release occurs upon payment of a specified amount toward the underlying debt. Release clauses...

In real estate law, a release is a legal instrument used to remove a lien or claim from property, such as one created by a mortgage or judgment. It formally acknowledges that the obligation secured by the lien has been satisfied or otherwise discharged. When a deed of...

In real estate finance, R.E.I.T. stands for real estate investment trust. It refers to a business entity or trust that owns, operates, or finances income producing real estate. Real estate investment trusts are typically organized to comply with requirements of the...