21. AGREEMENT OF SALE (FAQs/Real Estate Glossary)
An agreement between the seller (vendor) and buyer (vendee) for the purchase of real property.
09/05/2007 | 146 Hit(s) | (0 vote)
22. AGENT (FAQs/Real Estate Glossary)
One who is authorized to represent and to act on behalf of another person (called the principal). A real estate broker is the agent of his client, be it the seller or buyer, to whom he owes a fiduciary obligation. A salesman is the agent of his...
23. AGENCY (FAQs/Real Estate Glossary)
A relationship created when one person, the "principal," delegates to another, the "agent," the right to act on the principal's behalf in business transactions and to exercise some degree of discretion while so acting. A...
24. AFFIDAVIT (FAQs/Real Estate Glossary)
A sworn statement reduced to writing and made under oath before a Notary Public or other official authorized by law to administer an oath.
09/05/2007 | 165 Hit(s) | (0 vote)
25. ADVERSE POSSESSION (FAQs/Real Estate Glossary)
The acquiring of title to real property owned by someone else, by means of open, notorious and continuous possession for the statutory period of time (20 years in Hawaii).
09/05/2007 | 146 Hit(s) | (0 vote)
26. AD VALOREM (FAQs/Real Estate Glossary)
Latin for "according to valuation," usually referring to a type of tax or assessment
09/05/2007 | 143 Hit(s) | (0 vote)
27. ADHESION CONTRACT (FAQs/Real Estate Glossary)
A contract which is very one-sided and favors the party who drafted the document.
09/05/2007 | 150 Hit(s) | (0 vote)
28. ACRE (FAQs/Real Estate Glossary)
A measure of land equaling 43,560 square feet; 4,840 square yards; 160 square rods.
09/05/2007 | 154 Hit(s) | (0 vote)
29. ACKNOWLEDGEMENT (FAQs/Real Estate Glossary)
A formal declaration made before a duly authorized officer, usually a Notary Public, by a person who has signed a document.
09/05/2007 | 164 Hit(s) | (0 vote)
30. ACCRUED (FAQs/Real Estate Glossary)
That which has accumulated over a period of time such as accrued depreciation, accrued interest or accrued expenses.