Terms with Tag Realty

  • Abandonment Definition,
    • A disclaimer of ownership by the trustee or debtor in property deemed burdensome or inconsequential. Once property has been "abandoned" it is no longer the property of the estate and creditors can seek to recover their money.
  • Abstract of Title (ab) Abbreviation,
    • A written history of all the transactions that bear on the title to a specific piece of land. An abstract of title covers the time from when the property was first sold to the present.
    AB is a common abbreviation for Abstract of Title when used in property listings and real estate classifieds.
  • Acceptance Definition,
    • A property seller's formal, written approval of a buyer's offer.
  • Accounting of Sale (AOS)Acronym,
    • Accredited Auctioneer, Real Estate (AARE)Acronym,
      • Accredited Buyers Representative (ABR)Acronym,
        • Accredited Distressed Property Representative (ADPR)Acronym, United States,
            A US accreditation.
          • Accredited Residential Manager (ARM)Acronym, Canada,
              Real Estate Institute of Canada accreditation.
            • Acre Definition,
              • 43,560 square feet. A plot of land 180 by 242 feet is one acre.
            • Acre(s) (ac)Abbreviation,
              • Actual Age Definition,
                • The years since a structure was built. Differs from effective age.
              • Actual Cash Value (ACV) Acronym,
                • The replacement cost of an insured asset with depreciation accounted for.
                • The amount of money that a broker or dealer has invested in the purchase and repair of a used vehicle.
              • Actual Days on Market (ADOM)Acronym,
                • Additional Property Definition,
                  • A property that is owned by the person that is not being financed.
                • Adjusted Basis Bank,
                  • The amount you use to determine your profit or loss from a sale or exchange of property.
                • Adverse Possession Definition,
                  • A means of getting title to land by using it without the objection of the title holder.
                • Adverse Use Definition,
                  • Use of someone's property without permission.
                • After Repair Market Value (ARMV)Acronym,
                  • After Repair Value (ARV)Acronym,
                    • An approximation of a property's market value after needed repairs or renovations are made.
                    Similar to Fair Market Value.
                  • Agency (agcy) Bank,
                    • A relationship between two parties -- a client and an agent -- in which the agent represents the client in transactions with a third party.
                  • Agency Approved (APPR)Acronym,
                    • Agency Closing Bank,
                      • The use of a title company to supervise the meeting where the property is transferred and mortgage is settled.
                    • Agent (agt) Bank,
                      • A person who acts on behalf of another. In real estate, an agent is a person who conducts transactions on behalf of sellers and sometimes buyers.
                    • Agreed Boundary Definition,
                      • Property lines that are drawn to settle a dispute between neighbouring property owners.
                    • Agreement of Sale (AOS) Acronym,
                      • A document in which a property's buyer and seller approve the price and other terms of the transfer of title.
                    • Air Installations Compatible Use Zones (AICUZ)Acronym,
                      • Air Lock (AL) Acronym,
                        • A small room with two doors, one door leads to the outside and one leads into the rest of the home.
                      • Alberta New Home Warranty Program (ANHWP) Company Est. 1974, Alberta, Canada,
                        • Provides a standardized package of warranty protections and services for use by home builders in Alberta.
                      • Alberta Real Estate Association (AREA) Company, Calgary, Alberta, Canada,
                        • Alberta Real Estate Foundation (AREF) Company Est. 1991, Alberta, Canada,
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