FIND THE DEFINITION FOR ANY REAL ESTATE
Click on the letters above for terms beginning with that
letter, and then click on the term below.
Don’t see a term here?
Feel free to ask us. (Unfortunately, however, we cannot give you
real estate or legal advice.)
MAJORITY (or AGE OF
MAJORITY) – The age at which a person may legally handle
their own affairs.
– A two-party instrument used to pledge a property as security
for a loan. The borrower
(the MORTGAGOR) gives the Mortgage to the lender (the MORTGAGEE)
in exchange for the funds to purchase or re-finance the purchase
of real property. In
spite of common usage, the Mortgage is not the same thing as
the loan, but rather one part of the loan agreement.
MULTIPLE LISTING SERVICE
(MLS) – A computer database listing properties from member
real estate companies. Enables an agent from one company to sell a property listed by another
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