Free Real Estate Vocabulary Flashcards

See: Treasury Bills.

(1) Annexing a lien to one superior to it in order to gain the priority of the superior lien and defeat an intermediate lien. Generally not allowed. (2) Annexing periods of possession to add up to enough time for successful adverse possession. For example: A begins adverse possession. A dies and A’s son takes up possession, adding A’s time to his own. Not always allowed.

See: Multifamily Affordable Housing.

Agreement by a lender to place a long term (take out) loan on real property after completion of construction.

The “permanent” (long term) financing of real estate after completion of construction.

A loan that is used to pay offa construction loan when construction iscomplete.

As a legal term, it is used to describe acquisition such as taking by will; it is most commonly used as a real estate term to mean acquisition by eminent domain.

Rocks at the foot of a hill or other slope, which accumulate by sliding or rolling down the slope from the action of wind, rain, and gravity.

A method of keeping home financing active by the purchase of mortgages by GNMA (Government National Mortgage Association) at face value (par), for resale to FNMA (Federal National Mortgage Association), a private corporation, at a discount.

See: Corporeal Property.

Value in appraisal of the physical value (land, buildings, etc.), as opposed to the value of an intangible, such as a favorable lease.

See: Multifamily Affordable Housing