Real Estate Glossary

Real Estate Glossary
Our glossary is the largest dictionary of real estate and construction terms on the Internet with almost 10,000 definitions.

Ha - Har - He - Hed - Hi - Ho - Hoo - Hu

Trough that is attached to a centered handle which, when balance on the shoulder of a workman, carriers bricks and mortar.

Valley that exists between two roofs that slope toward each other and is partly filled and sloped so that any runoff water from either of the roof slopes flows toward a gutter.

An apparatus for lifting heavy things.

Portion of a construction loan withheld by a lender from a contractor until all construction work is satisfactorily completed or sufficient space is leased in a floor loan.

Contractual clause where one party assumes a liability risk for another and, thus, effectively indemnifies the named party from any liability.

Legal ruling providing protection to homebuyers of defective homes ought from a seller who then sold the contract to a third party. Alternately, one who acquires a bearer instrument in good faith and is eligible to keep it even though it may have been stolen.

Company formed for the purpose of owning or controlling other companies.

Funds retained in an account until a certain event occurs.

Maintaining the proper depth at the bottom of an excavation.

The time span of ownership of a real estate investment with the return tied to the time period of the investment for tax purposes, determining whether a profit earned of loss incurred is treated as short or long-term capital gains or losses.

Landowner in the path of something who refuses to sell.

Tenant who remains in possession of leased property after the expiration of the term of the lease.

A hollowed-out place, or cavity in any surface. An opening.

Gauge to measure the diameter of a small hole.

A tool that punches out a circular section of material leaving a hole in the remaining piece.

A small cylindrical attachment for a power drill which consists of a circular saw blade, used to cut holes.

A missed spot in painting or tarring a roof or foundation, sometimes called a Sunday, it is named because of the idea of a holiday being a gap in work.

Having an empty space or cavity inside an object.

A brick with several large holes through the core so that you can look through to the other side. The brick amount is less than 75 percent of the total surface area.

Concrete block with several large holes through the core so that you can look through to the other side. The block amount is less than 75 percent of the total surface area.

Construction where the framework for a door is covered with thin plywood, which is supported by lightweight material in the framework center.

A flush door with plywood facing over framework that does not have a solid core.

Also called taper ground, this way of grinding a blade to taper from a thicker cutting edge to a thinner section toward the hub to keep it from binding in the material being cut.

Construction of concrete masonry units, in a single section, one block thick, with the block ends filled with grout as each row is laid.

Wall with an air space within the wall.

Will that does not meet all the requirements of a valid will.

Measure of the typical U.S. family's ability to buy a home, published by the National Association of Realtors. When the Index measures 100, a family earning the median income has exactly the amount needed to purchase a median-priced, previously owned home, using conventional financing and a 20% down payment. Some experts maintain that every one-point increase in the home mortgage interest rate results in 300,000 fewer home sales.

Also known as reverse mortgage, this loan is made to older owners to convert their equity into money. Borrowers are qualified on the basis of the value of their homes. This is not the same as a home equity loan.

Open-ended line of credit based on a homeowner's equity. Most loan amounts are limited to 75 or 80 per cent of the appraised value. Withdrawals can be made at any time with the guidelines.

Loan allowing owners to borrow against their equity in the home, usually a second mortgage.

Loan used to pay for major remodeling, reconstruction or additions to the home, usually a second mortgage.

Examination of a home's condition, internal systems or construction prior to purchase.

Professional who does home inspections and evaluates the structural soundness and operating systems of a home.

Listing of items and their costs of an individual's possessions at his residence.

Also known as a mortgage, it is a lien that makes property security for the repayment of a debt, such as the one incurred upon purchase of that home.

The state of living in a structure that one owns.

Price agreed upon by seller and purchaser and for which title is exchanged.

Power of the local government to implement its own land-use regulations.

Warranties issued by contractors, sellers and real estate agencies that protect homebuyers from specified defects in a house as per the contract.

1. Group that governs a planned community or condominium and collects monthly fees from all owners to pay for common are maintenance, to handle legal and safety issues, and to enforce the conditions and restrictions set by the developer.
2. Organization of the homeowners in a particular subdivision, planned unit development or condominium for the purpose of enforcing deed restrictions and managing the common elements of the development.

Fee charged to homeowner to belong to a homeowners' association, which includes the cost of maintenance and other services.

Type of insurance policy covering the risks of homeowners, including damage, theft, fire, personal liability, etc.

Special insurance covering certain home repairs for a specified amount of time.

Private insurance program, which protects purchasers of newly, constructed homes against structural and mechanical defects and provides reimbursement for the cost of remedying the situation, if the builder does not do so.

Legal status provided by certain states on a homeowner's principal and in some states provides protection against creditor claims or forced land sale as long as the homeowner continues to maintain his/her residence there.

Law that exempts a homestead from forced sale to meet general debts.

1. Term for an area where property types and uses are similar and compatible. A thing constructed with parts of the same material.
2. Constructed of parts of all the same type of material.

Structural beam made of only one material.

1. To grind something to a sharp edge.
2. A fine-grained, hard stone used to sharpen cutting tools.

Very fine smoothly finished limestone.

1. Structural material, resembling the six-sided cell structure of a honeycomb, which is rigid but lightweight and is used when a high rigidity-to-weight ratio is needed.
2. Badly poured or mixed concrete, which is not "puddled" before it sets which leaves it weaker than needed.

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Our glossary is the largest dictionary of real estate and construction terms on the Internet with almost 10,000 definitions.

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