Dictionary

Definition:   a unit of money used to specify a property tax rate; one-tenth of one cent Pronunciation:   \ˈmil\ Used in a Sentence:   The mill rate used to determine the property  taxes was 52.

Definition:    a common method of legal description that identifies a property by specifying the shape and boundary dimensions of the parcel.   A metes-and-bound description starts a the point of b...

Definition:   any of the imaginary lines running north and south used by surveyors for reference in locating and describing land under the government survey method of property description Pronuncia...

Definition:   the point when two people, thinking of the same thing, reach an agreement through an offer and acceptance Pronunciation: Used in a Sentence:   Once the buyer and seller came to a meet...

Definition:   intervention between conflicting parties to promote reconciliation, settlement or compromise Pronunciation:  \ˌmē-dē-ˈā-shən\ Used in a Sentence:   When the buyer and seller made conf...

Definition:  any fact that affects the value of real property and is relevant to a person making a decision about that property Pronunciation:   \mə-ˈtir-ē-əl\ \ˈfakt\ Used in a Sentence:   Real es...

Definition:    the stone, brick or concrete used to build things Pronunciation:   \ˈmā-sən-rē\ Used in a Sentence:    The house had a masonry foundation for added stability.

Definition:   the most probable price a property should bring in a competitive and open market under all conditions requisite to a fair sale Pronunciation:   \ˈmär-kət\\ˈval-(ˌ)yü\ Used in a Senten...

Definition:   an agreement between brokers to divide up competitive market areas among themselves and not complete in each other’s areas Pronunciation:   \ˈmär-kət\\ˌa-lə-ˈkā-shən\ Used in a Senten...