Dictionary

Definition:  the right of mortgagors who have defaulted on the mortgage note to redeem or get back their title to the property by paying off the entire mortgage before the foreclosure sale Pronunci...

Definition:  the assigned period of time over which property is depreciated for tax purposes Pronunciation:   \ri-ˈkə-və-rē\ \ˈpir-ē-əd\ Used in a Sentence:    We were given a 5 year recovery perio...

Definition:  to place any document or instrument affecting title or an interest in real property in the public records of the county in which the property is located Pronunciation:   \ri-ˈkȯrd\ Us...

Definition:  a determination by an administrative law judge that includes findings and conclusions, as well as the recommended penalty, if any, required by law or agency rule Pronunciation:   \ˌre-...

Definition:  an agreement between two states that allows a real estate licensee with a valid license in one of the states to practice real estate in both states Pronunciation:  \ˌre-sə-ˈprä-s(ə-)tē...

Definition:   a provision in a mortgage, related to income-producing property, that is designed to require that income derived shall be used to make mortgage payments in the event the borrower defa...

Definition:   an independent party appointed by a court to hold in trust and administer property under litigation Pronunciation:   \ri-ˈsē-vər\ Used in a Sentence:    A receiver was appointed by th...

Definition:   a fair length of time that may be allowed or required for an act to be completed, considering the nature of the act and the surrounding circumstances Pronunciation: Used in a Sentence...

Definition:   land and everything permanently affixed thereto Pronunciation:    \ˈrē(-ə)l-tē\ Used in a Sentence:   Real estate and real property are also terms for realty.