Real Estate Glossary

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



 
Da - Deb - Def - Den - Des - Di - Dir - Do - Dop - Dr - Dro - Du


Unsecured long-term debt which has no collateral to back it and is given only to a financially sound borrower with an excellent credit rating.

1. Coming forth from a narrow place into open country.
2. Land coming forth from a valley onto a plain.

1. Rough, broken bits of stone, wood, glass, etc. after destruction.
2. A heap of rock fragments.

An amount owed from one to another.

The raising of money by loans and borrowing directly from financial institutions, providing increased financial leverage. Interest may be tax deductible.

Ratio of monthly debt payments to monthly gross income. Lenders use housing debt-to-income (DTI) ratio (housing payment divided by monthly income). And a total DTI ratio (total debt payment including the house payment divided by monthly income) to determine whether a borrower's income qualifies a buyer for a mortgage.

Maximum amount of debt an individual or business can borrow.

Individual or entity owing money.

The interest and principal paid on a loan.

1. To find and correct defects or errors.
2. To find and remove electronic listening devices from a room.

A plane figure with ten sides and ten angles.

1. The process of transferring to glass, wood, etc. decorative pictures or designs printed on specially prepared paper.
2. A picture or design made in this manner.

Removal of carbon from a surface, such as steel. Also known as decarburization.

Removal of carbon from a surface, such as steel. Also known as decarbonization.

To lose strength. To rot or decompose.

One who has died with a valid will in effect.

When an owner of real estate dies without a will (in testate), the property descends, by operation of law, to the owner's inheritors.

Numeric expression of the loudness of sound.

Trees that shed their leaves in the fall. Widely used for furniture. They include pine, oak, maple, redwood and spruce. Pine is commonly used for building material.

A fraction with an unwritten denominator of 10 or some power of 10, marked by a (decimal) point before the numerator.

Measurement of length in feet and decimal portions. For example 5.5 in decimal feet is also 5 feet 6 inches or 5 ½ feet.

The roofless, floored area adjoining a house, used for recreational purposes.

Exterior paint that is very wear resistant. Decking Wide board, usually two inches thick, attached to flooring or roofing joists acting as the floor or roof of a structure. Alternately, light gauged ribbed metal sheets used for supporting a roof or floor.

Open surface constructed on top of a flat roof with a railing on the sides.

Legal record used in creating a condominium and includes a description of the property, common elements, ownership units and acceptable uses of the residence.

Statement filed with a government authority declaring the property a homestead for purpose of securing a homestead exemption and has no effect on the title and is not a conveyance.

A binding determination by the court as to whether there is a justiciable (allowable) action between the litigants. A subsequent trial determines any relief on the declared justiciable action.

1. A bending or sloping downward.
2. An oblique variation from some definite direction.
3. The angle formed by a magnetic needle with the line pointing to the true north.
4. A polite refusal.

Market condition in which there are more sellers than buyers, causing prices to fall.

A downward slope or sloping, as a hill.

A freedom from pressure.

To rid of a polluting or harmful substance. Purifying.

1. To add something to made more attractive. To adorn.
2. To plan and arrange colors, furnishings, etc.
3. To give a token of honor or medal.

Decorative, factory applied, vinyl or paper coated wallboard panels.

The amount of money supplies by the seller to be applied to decorating changes.

1. Anything used for decorating. An ornament.
2. A medal or badge of honor.
3. To add designs to a surface.

Fencing made from sections of fence welded with shapes or pipes, etc. which are installed as units.

Plywood panel, on which the surface is designed with a pattern, to be used as paneling, accent walls, displays, etc.

Elements and components, of a structure, separated so that they don't interact.

To become or cause to become gradually smaller. To reduce or diminish.

Decision rendered by a court of law.

The process of decreasing in size; the total amount of decrease.

Property given and accepted as a grant to the public.

Legal document transferring ownership of a piece of property.

Often referred to as a correction deed, it is used to rectify errors made in a previous deed.

Any of a number of types of covenants agreeing to do or not to do something that is attached to the title and passes from one owner to the next such as architectural style or type of material.

Property description contained in a deed.

Legal document conveying property to the lender after the borrower defaults on his/her mortgage payment.

The deed, which releases property or a portion of it, upon satisfaction of a mortgage or other debt.

Written statements in a deed which outline the limits of use of a property. Restrictions that are imposed against the race, sex, nationality, color or creed of a person are illegal.

Document giving the lender the right to foreclose on a piece of property if the borrower defaults on the loan.

Fee charged by the government to enter into the public record the deed and documents relative to the transfer of title to a piece of property.

A convex electrical cover plate used for a slightly protruding electrical box.

Drain used to dispose of basement water to a sewer line.

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