Real Estate

Importance: 0.86

Is a company: no

Is a proper noun: no

Synonyms

  • immovable property
  • real property
  • property
  • realty

Acronyms

  • RE

Alternate Spellings

  • Real Property

Definition of Real Estate

  1. Land with buildings and other improvements on it.
  2. A section of land, including the air above it and the ground below it, and any buildings or structures on it.

Related Terms and Acronyms

  • Legal Mortgage Definition, Important,
    • The written geographical description of a property as described in the land register.
  • For Sale By Owner (FSBO) Acronym, Very Important,
    • An arrangement by which a house's owner tries to sell the house without hiring a real-estate agent. Owners do this to avoid paying a commission.
    Can save the seller money by forgoing realtor fees.
  • Lending Value Definition,
    • The property value for mortgage purposes. Usually the lesser of appraised value or sale price.
  • Fixed Time Definition,
    • The time of year when the owner in a timeshare arrangement is scheduled to have occupancy.
  • Second Home Definition,
    • An additionally purchased property, often a vacation or a rental property.
  • Land Definition,
    • The solid ground of the earth. This can include everything under it and over it. For example, Condominium Acts do divide land horizontally thereby limiting the vertical ownership.
  • Joint Venture Definition,
    • A partnership between two or more parties for the purpose of purchasing, owning, and/or developing real estate for a specific purpose and duration.
  • Estate Definition,
    • The ownership interest of an individual in real property.
    • The total sum of all the real property and personal property owned by an individual at time of death.
  • Property Value Definition,
    • The worth of a piece of real estate, based on the price a buyer and seller would negotiate.
  • Real Property Definition,
    • Permanent, non-movable property, such as land and buildings.
  • Mortgage (mtg) Abbreviation, Important,
    • A mortgage is a contract stipulating a specific real property, typically a residence or building, as collateral for a loan. The mortgage incurs a rate of interest that varies according to term and other features.
  • Legal Description (lgdc) Abbreviation,
    • A way of identifying a piece of property in writing that is acceptable to a court.
  • Encumbrance Definition,
    • Anything that affects or limits the clear and free title to a property, such as mortgages, leases, easements, or restrictions.
  • Realtor Definition,
    • A real estate broker or an associate holding active membership in a real estate board.
  • Building and Loan Association Definition,
    • A financial institution designed to help members finance real-estate transactions.
  • Buyer's Market Definition,
    • When market conditions favour the buyer.
  • Real Estate Agent Definition,
    • A person who is licensed to represent a buyer or seller of land and the buildings and other improvements on it.
  • Gross Living Area (GLA) Acronym, Important,
    • The gross above ground, finished living area in a property.
    Above ground total floor area of a home excluding porches and balconies.
  • Jointly-owned Property Definition,
    • A property held in the name of more than one person.
  • Leasehold Mortgage Definition, Important,
    • A mortgage given by a lessee on the security of his leasehold interests in the land.
  • Fixed Assets (FA) Acronym, Important,
    • Assets like machinery, land, buildings, or property used in operating a business that will not be consumed or converted into cash during the current accounting period.
  • Land Transfer Tax (LTT) Acronym,
    • A provincial tax payable on any property that changes hands. First time buyers may be eligible for a rebate.
  • Seller's Market Definition,
    • Due to either low supply or high demand, the seller can expect to sell quickly with a high sale price.
  • Real Estate Attorney Definition,
    • A lawyer who specializes in the transfer of land and buildings and property tax issues.
  • Square Footage Definition,
    • The area within a building, calculated by measuring the rooms by length and width.
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