Real Estate Legal Terms Glossary

Explore comprehensive definitions of legal terminology crucial to real estate transactions.

glossary real-estate

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Real Estate

  • DeedA deed is a legal instrument that conveys ownership rights of real property from one party to another.

  • EvictionEviction is the legal process of removing a tenant or occupant from a rental property due to violation of the lease terms.

  • ForeclosureForeclosure is a legal process where a lender seizes and sells mortgaged property due to borrower's failure to repay the loan.

  • leaseA lease is a legal contract that conveys the right to use or occupy real property for a specified period in exchange for consideration.

  • mortgageA mortgage is a legal instrument securing a loan with real property as collateral, allowing lender recourse if borrower defaults.

  • Real estateReal estate refers to the legal ownership and rights associated with landed properties, including residential, commercial, industrial, and other types of real estate.

  • TitleTitle denotes the legal evidence and documentation that establishes an individual's or entity's legitimate ownership rights and claims over a specific real property asset.