Buying Closing Cost Home
Buying Closing Cost Home
Buying Closing Cost Home

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Real Estate Terms of the Day for Buying Closing Cost Home



IMPROVED LAND
Real property whose value has been enhanced by the addition of on-site and off-site improvements such as roads, sewers, utilities, buildings, etc.; as distinguished from raw land.

BEQUEST
A gift of personal property by will.

ACKNOWLEDGEMENT
A formal declaration made before a duly authorized officer, usually a Notary Public, by a person who has signed a document.

DEBT SERVICE
The amount of money needed to meet the periodic payments of principal and interest when a debt is amortized.

ENCROACHMENT
An unauthorized invasion or intrusion of a fixture or other real property wholly or partly upon another's property, thus reducing the size and value of the invaded property.

OFFER AND ACCEPTANCE
The two components of a valid contract; a "meeting of the minds."

INTEREST
The sum paid or accrued in return for the use of money.

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