When it comes to real estate transactions, it’s important that you understand basic terms and phrases that are used. Not knowing what a term means can mean the difference between a solid transaction and unnecessary legal disputes. You should therefore familiarize yourself with real estate terminology before engaging in any transactions.
Learning how to understand important real estate terminology is made easier by classifying them into different categories. Some major real estate categories include: Purchases and Transactions, Mortgages, and Titles.
For example, some commonly used terms for Purchases and Transactions may include:
Some terms related to the different types of Mortgages include:
Important real estate terminology involving Titles may include:
There may be several other important real estate terms you should be familiarized with. If you need any assistance in understanding important real estate terminology, you should contact a real estate lawyer right away. Your attorney can explain the various real estate definitions, and can also represent you in court if a lawsuit or court hearing becomes necessary.
Last Modified: 10-26-2015 12:33 PM PDTLaw Library Disclaimer
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