Glossary of terms used on this site
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| Term | Definition |
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| Radon Gas |
An odorless, radioactive gas which may enter a home through cracks in the foundation or drains in the floor.
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| Ranch House |
A unique type of house native to America which usually consists of a single story, low roofline, L or U shaped design, open floor plans and attached garages. This type of architecture was popular in the 1940s-1970s and is still being used today. Also known as Ranch Style or Ranch Style House.
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| Real Property |
Property in the form of land together with fixtures and improvements as opposed to personal possessions.
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| Realtor |
A trademark name for a real estate representative who is a member of the National Association of Realtors and is bound by a strict code of ethics in the business of buying and selling real estate.
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| Recession |
A general decline in economic activity over a sustained period of time.
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| Redlining |
The practice by a bank or insurance company to deny credit or insurance to people based on ethnic background or neighborhood.
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| Regulation Z |
A federal regulation requiring creditors to provide full disclosure of the terms of a loan including the terms or the loan and the annual percentage rate (APR).
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| Renegotiable Rate Mortgage |
A loan secured by a long-term mortgage of up to 30 years, which provides for renegotiation at equal stated intervals of the interest rate for a maximum variation of 5 percent over the life of the mortgage.
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| Renewal Option |
A clause giving a tenant the right to extend the term of a lease, usually for a stated period of time rent amount.
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| Rent Commencement Date |
The date upon which the rent and usually the term of the lease begins.
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| Rescission |
The cancellation of a transaction or contract by law or by mutual consent.
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| Residential |
Pertaining to a place where people live, such as a home, townhouse, apartment or other type family dwelling.
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| Restrictive Covenant |
A private agreement, usually contained in a deed, which restricts the use and occupancy of real property.
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| Return On Investment (ROI) |
A measurement calculated to evaluate the financial return on a particular investment during a specified period of time.
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| Reverse Annuity Mortgage |
A loan under which the homeowner receives monthly payments based on his or her accumulated equity rather than a lump sum. Also known as a Senior Loan.
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| Right Angle |
The 90 degree angle between to perpendicular lines.
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| Riparian Rights |
The rights of land owners whose property border bodies of water which relate to the water and its use or distribution.
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