Dictionary

Lease

Definition: An agreement that does not convey ownership but does convey possession and use for a period of time and for compensation, an estate for years. Pronunciation:   \ˈlēs\ Used in a...

Lay Member

Definition:   One not belonging to or connected with a particular profession. Pronunciation:   \ˈlā\ \ˈmem-bər\ Used in a Sentence:   Two of the seven members on the Florida Real Estate Commission are lay...

Landlocked

Definition:   Real property that has no access to a public road or way. Pronunciation:   \ˈland-ˌläkt\ Used in a Sentence:   Because the lot was landlocked an easement of necessity was granted...

Land Description

Definition:   A definite and positive written description of a specific parcel of land and its location. Pronunciation:   \ˈland\ \di-ˈskrip-shən\ Used in a Sentence:   The deed contained the land description of the...

Land

Definition:   The surface of the earth extending down to the center and upward to the sky, including all natural things attached such as trees, water, plus the minerals below the...

Laissez-faire

Definition:  A policy that allows businesses to operate with very little interference from the government. Pronunciation:   \ˌle-ˌsā-ˈfer, ˌlā-, -ˌzā-\ Used in a Sentence:    During the industrial revolution, the philosophy...