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Estate - The degree, quantity, nature and extent of interest which a person has in real property. Estate in Reversion - The residue of an estate left for the grantor, to commence in possession after the termination of some particular estate granted by the grantor.
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Nov 13, 2023 · Whether you’re a veteran agent or a rookie hoping to sound authoritative during your first transaction, you need to be able to succinctly explain common real estate terms and definitions to your clients.
Black’s Guide’s Glossary of Real Estate Terms provides a complete reference dictionary of terms and phrases used in the commercial real estate industry. These definitions have been endorsed by numerous industry organizations as the Market Standard for their respective regions.
An important part of our relationship is making you more familiar with how these terms are a part of your purchase and ownership of real estate. We have provided here a simpli˚ ed, common language explanation of these terms limited to how they will most likely be used in your home purchase process.
So when you embark on your journey, one of your first stops should be familiarizing yourself with the lingo. We’ve curated helpful information from our Homebuyers’ Road Map and Tips for Buyers, to share with you some of the most important terminology a new buyer needs to know—from pre-purchase to post-purchase.
GLOSSARY OF REAL ESTATE & MORTGAGE TERMS. A. Agreement of Purchase and Sale – A legal agreement that offers a certain price for a home. The offer may be firm (no conditions attached), or conditional (certain conditions must be fulfilled before the deal can be closed).
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define key words and concepts in the commercial real estate field. The goal was to provide a document that included standardized terminology for the CRE industry. To accomplish this, NAIOP assembled a task force made up of NAIOP members, representing major disciplines in the commercial real estate
