The Real Estate
Encyclopedia: P-T

In real estate finance, a rate index is a published benchmark used to adjust the interest rate of an adjustable rate mortgage. The index reflects general market interest rate conditions and fluctuates over time. Common rate indexes include treasury securities,...

In real estate and land surveying, range lines are north south survey lines established under the government, or rectangular, survey system. They are spaced at six mile intervals, beginning at the principal meridian. Range lines form the east and west boundaries of...

In real estate and land surveying, a range is a unit of land measurement used in the government, or rectangular, survey system. It consists of a row of townships that is six miles wide and runs in a north and south direction. Ranges are used as part of legal land...

In real estate law, a quitclaim deed is a type of deed that transfers whatever interest or claim the grantor may have in a property at the time of conveyance. It operates as a release of the grantor’s rights, if any, without guaranteeing that the grantor holds valid...

In real estate law, a quiet title action is a legal proceeding brought to establish or confirm ownership of real property. Its purpose is to resolve competing claims or uncertainties and remove any cloud on the title. By obtaining a court judgment, the property owner...

In real estate law, quiet enjoyment is the right of a property owner or tenant to use and occupy property without interference or disturbance of possession. This right is implied in most ownership and lease arrangements. Quiet enjoyment protects against actions that...

In real estate appraisal and construction, a quantity survey is a detailed and technical method used to estimate the cost of new construction. It involves calculating the exact quantities of materials required, such as lumber, drywall, brick, and concrete, along with...

In real estate finance, a purchase money mortgage is a security instrument given by a buyer to a seller to secure payment of all or part of the property’s purchase price. Instead of obtaining financing from a third party lender, the buyer borrows directly from the...

In real estate transactions, a purchase agreement is a contract between a buyer and a seller for the sale of real property. It sets forth the agreed upon price and the essential terms and conditions of the transaction. The purchase agreement typically includes...

In real estate practice, puffing refers to statements of opinion or exaggeration that are intended to promote or enhance the perceived value of a property. These statements are not presented as representations of fact. Puffing is generally considered permissible...