Home Improvement Book
Home Improvement Book
Home Improvement Book

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Real Estate Terms of the Day for Home Improvement Book



PRINCIPAL BROKER
The licensed broker directly in charge of and responsible for the real estate operations conducted by a brokerage company.

SUBJECT TO MORTGAGE
A grantee taking title to real property "subject to mortgage" is not personally liable to the mortgagee for payment of the mortgage note. In the event the grantor-mortgagor defaults in paying the note, the grantee could, however, lose property, and thus his equity, in a foreclosure sale.

FRONTAGE
The length of a property abutting a street or body of water; that is, the number of feet that "front" the street or water.

POWER OF ATTORNEY
Legal document authorizing one person to act on behalf of another.

PLANNED UNIT DEVELOPMENT (PUD)
A modern concept in housing designed to produce a high density of dwellings and maximum utilization of open spaces.

GROSS INCOME
Total income before taxes or expenses are deducted.

ACCRETION
The gradual and imperceptible addition to land by alluvial deposits of soil through natural causes, such as shoreline movement caused by streams or rivers.

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