Home Improvement Loew
Home Improvement Loew
Home Improvement Loew

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Real Estate Terms of the Day for Home Improvement Loew



CAPITALIZATION
A mathematical process for converting net income into an indication of value, commonly used in the income approach to appraisal.

WARRANTY
A guaranty by the seller, covering the title as well as the physical condition of the property.

TITLE SEARCH
An examination of the public records to determine what, if any, defects there are in the chain of title.

RELEASE
The discharge or relinquishment of a right, claim or privilege. Releases involving real property transactions should be acknowledged and recorded.

BEQUEST
A gift of personal property by will.

AIR RIGHTS
The rights to the use of the open space or vertical plane above a property. Ownership of the land includes the right to all air above the property.

LICENSEE
A person who has a valid license. A real estate licensee can be a salesperson or a broker, active or inactive, an individual, a corporation, or a partnership.

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