Glossary of Real Estate Terms

There are 125 entries in this glossary.
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A

Term Definition
Abstract of title

Abstract of title is a condensed history of ownership of real estate. It consists a summary of original grant and a certificate of abstractor that the history is true and complete.

Additional principal payment

The payment given by the borrower more than the scheduled principal amount in order to reduce the due payment on his debt

Adjustable Rate Mortgage

Adjustable Rate Mortgage is a lone where the rate of interest is periodically adjusted based on a predetermined index.

Agreement of Sale

Agreement of Sale is a written document of a deal between the buyer and the seller to seller buy real-estate property. The contract is on installment basis. It is also called Agreement to Convey.

ALTA

The full form of ALTA is American Land Title Association. It is an Organization composed of title insurance firms .It sets standards for industry, including title insurance policy forms which are used on a national basis in the United States of America.

Apartment

A self-contained housing unit which occupies the the part of building is called an Apartment.It can be owned or rented by the owner. In Britain and other commonwelth contries, the term Flat is used instead of apartment.

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