Florida Home Improvement Loan
Florida Home Improvement Loan
Florida Home Improvement Loan

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Real Estate Terms of the Day for Florida Home Improvement Loan



DEED
A written instrument by which a property owner "grantor" transfers to a "grantee" an ownership in real property.

ACCESS
A general or specific right of ingress and egress to a particular property.

STATUTE OF LIMITATIONS
That law pertaining to the period of time within which certain actions must be brought to court.

ABSTRACT OF TITLE
A concise, summarized history of the title to a specific parcel of real property, together with a statement of all liens and encumbrances affecting the property. The abstract of title does not guarantee or assure the validity of the title of the property. It merely discloses those items about the property which are of public record, and thus does not reveal such things as encroachments, forgeries, and the like.

TITLE
Document which gives evidence of ownership of a property. Also indicates the rights of ownership and possession of the property.

ASSUMPTION OF MORTGAGE
The act of acquiring title to property which has an existing mortgage on it and agreeing to be personally liable for the terms and conditions of the mortgage, including payments.

GARNISHMENT
A legal process designed to provide a means for creditors to safeguard for themselves the personal property of a debtor which is in the hands of a third party ("garnishee").

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