1. ATTORNMENT (FAQs/Real Estate Glossary)
The act of a tenant formally agreeing to become the tenant of a successor landlord; as in attorning to a mortgagee who has foreclosed on the leased premises.
09/05/2007 | 395 Hit(s) | (0 vote)
2. ATTORNEY-IN-FACT (FAQs/Real Estate Glossary)
One who is authorized by another to act in his place under a power of attorney.
09/05/2007 | 446 Hit(s) | (0 vote)
3. ATTACHMENT (FAQs/Real Estate Glossary)
The legal process of seizing the real or personal property of a defendant in a lawsuit, by levy or judicial order, and holding it in the custody of the courts as security for satisfaction of the judgment which the plaintiff may recover in any action ...
4. ASSUMPTION OF MORTGAGE (FAQs/Real Estate Glossary)
The act of acquiring title to property which has an existing mortgage on it and agreeing to be personally liable for the terms and conditions of the mortgage, including payments.
09/05/2007 | 370 Hit(s) | (0 vote)
5. ASSIGNMENT (FAQs/Real Estate Glossary)
The transfer of the right, title and interest in the property of one person, the assignor, to another, the assignee. In real estate, there are assignments of mortgages, contracts, agreements of sale, leases, and options, among others.
09/05/2007 | 272 Hit(s) | (0 vote)
6. ASSESSMENT (FAQs/Real Estate Glossary)
A specific levy for a definite purpose, such as adding curbs or sewers in a neighborhood. Individual condominium owners are subject to special assessments benefiting the project as a whole and not funded through regular maintenance charges.
09/05/2007 | 217 Hit(s) | (0 vote)
7. ASSESSED VALUATION (FAQs/Real Estate Glossary)
The value of real property as established by the state government for purposes of computing real property taxes.
09/05/2007 | 211 Hit(s) | (0 vote)
8. ARBITRATION (FAQs/Real Estate Glossary)
The non-judicial submission of a controversy to selected third parties for their determination in the manner provided by agreement or by law.
10. APPRECIATION (FAQs/Real Estate Glossary)
An increase in the worth or value of property due to economic or related causes, which may prove to be either temporary or permanent.
FAQs 
