Free Real Estate Vocabulary Flashcards

An iron or steel structural framing member, in cross-section forming the letter I.

See: I-Beam.

Sounding the same. Legally, names improperly spelled need not void an instrument, provided the written name sounds the same as the correctly spelled name, and there is no evidence of any intent to deceive by incorrect spelling.

The person, to whom real property interest is to be conveyed, identified in such a way so as to reasonably separate that person from all others in the world.

Rock produced by the cooling of magma within the earth (plutonic rock) or on the surface (volcanic rock).

Assets that cannot easily be converted to cash.

The deposit of soil material by elevation.

Program giving sellers up to 60 days to deliver mortgages Freddie Mac has agreed to buy on the secondary market.

Physical characteristic of real estate referring to the fact that it cannot move from one place to another.

Used frequently in definitions of real estate, things which cannot be moved, such as land, buildings, etc.

Fees charged for improvements that impact public facilities such as sewers. Building a new house or even adding a bathroom could result in impact fees being charged by the local government.

A measure of 277 cubic inches, as opposed to the 231 cubic inch standard gallon.