Definition: An owner of real property that does not live on the premises. Additional Information: An absentee owner usually requires a property manager to maintain the premises. Pronunciation: absənˈtē ˈōnər Used in a Sentence: Due to an increase in demand for rental property, there has also been an increase in absent..
Definition: A concise history of title to real property comprising a summary of the links in the “chain of title” extracted from documents impacting on the title status. Pronunciation: abˈstrakt,ˈabˌstrakt Used in a Sentence: The seller ordered an abstract of title to aid in the purchase of his..
Definition: A condition in a mortgage that the entire unpaid balance becomes due and payable if the borrower defaults on the promissory note. Pronunciation: ik-ˌse-lə-ˈrā-shən Used in a Sentence: The lender activated the acceleration clause in the mortgage when the borrower stopped making..
Definition: The gradual buildup of land caused by water-borne rock, sand and soil. Pronunciation: ə-ˈkrē-shən Used in a Sentence: Accretion had caused the property to gro..
Definition: A formal declaration before a notary that the signing of a document is a free act Pronunciation: ik-ˈnä-lij-mənt, ak Used in a Sentence: The notary witnessed the acknowledgement of the signing of the contra..
Definition: A measure of land equal to 43,560 square feet, 7/11 (4+3=7, 5+6+0= 11) Pronunciation: ˈā-kər Used in a Sentence: The property was measured at..
Definition: Information that is learned by reading, seeing or hearing. Pronunciation: ak-ch(ə-w)əl Used in a Sentence: The seller gave actual notice when he advised the buyer there is a construction lien on the..
Definition: Taxable value of real property, according to the value Pronunciation: ad-və-ˈlȯr-əm Used in a Sentence: The ad valorem tax for the real property was determined to..
Definition: The last known mailing address or email address of a person. Pronunciation: ə-ˈdres, a- also ˈa-ˌdres Used in a Sentence: Please get the address of record for the buy..
Definition: A judicial or court decision. Pronunciation: ə-ˌjü-di-ˈkā-shən Used in a Sentence: The court withheld adjudication of guilt for the ..