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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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76% - Very Often

Real Estate


Synonyms:immovable property, property, real property, realty
Acronyms &
abbreviations:
RE
Filed Under: financial-banking, real-estate
Tags: realty
 

Definition of real estate (RE)

real estate (RE)
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:

  • buyer's market   When market conditions favour the buyer.
  • fixed assets (FA)   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.
  • for sale by owner (FSBO)   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.
  • gross living area (GLA)   The gross above ground, finished living area in a property.
      ➥  Above ground total floor area of a home excluding porches and balconies.
  • leasehold mortgage   A mortgage given by a lessee on the security of his leasehold interests in the land.
  • legal mortgage   The written geographical description of a property as described in the land register.
  • mortgage (mtg)   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.
  • property value   The worth of a piece of real estate, based on the price a buyer and seller would negotiate.
  • real estate attorney   A lawyer who specializes in the transfer of land and buildings and property tax issues.
  • second home   An additionally purchased property, often a vacation or a rental property.

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