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Real Estate Agent Dictionary
Real Estate Agent Dictionary
Bookmark this page as a resource for real estate terms.
QUALIFIED FEE An estate in fee simple but bound by limitations imposed by the grantor.
QUARTERS All housing facilities which are supplied by specific Department of the Army direction as incidental service in support of Government programs and for which rent and fees are charged the occupant.
QUIET ENJOYMENT A right, granted by covenant in a deed or lease, of a grantee or tenant to enjoy possession of the premises without interference.
QUIET TITLE Court action brought to establish title and to remove a cloud on the title.
QUITCLAIM DEED A deed of conveyance with conveys to the grantee without warranty of title whatever interest, title, or claim the grantor possesses.
RANCHO Grants of land to individuals dating back to the Spanish-Mexican governments. A large tract of land suitable for grazing horses or cattle.
RANGE A strip of land six miles wide, as determined by Government survey and running in a north-south direction.
REAL ESTATE See REAL PROPERTY.
REAL PROPERTY Land and anything built on, growing on, or affixed to land. See also PROPERTY, PERSONAL PROPERTY.
REALTY A term sometimes used as a collective noun for real property or real estate.
REASSIGNMENT The action of changing Jurisdiction over real estate from one command or agency to another within the Department of the Army.
RECAPTURE CLAUSE A clause in leases or deeds which gives the landlord the right to terminate if certain conditions or standards are not met.
RESCISSION OF CONTRACTS The abrogating or annulling of contracts. the revocation or repealing of a contract by mutual consent by parties to the contract, or for cause by either party to the contract.
RECTANGULAR SURVEY SYSTEM Often called the United States Government Survey System; a method of describing or locating real property by reference to the Government survey. Used in about 30 states.
REDEMPTION The right to redeem property during the foreclosure period; the right of an owner to redeem his property after a sale for taxes. Often referred to as Equity of Redemption.
RELATED FURNISHINGS Property which is not fixed to or part of a building: furniture, furnishings, equipment.
RELEASE The discharge or relinquishment of a right, claim or privilege. Since a formal release is a contract relieving a person from any further legal obligation, it must contain a valuable consideration.
RELEASE OF LIEN The discharge of certain property from the lien of a judgment, mortgage, or claim.
RELICTION Addition or accretion to land by gradual subsidence of water.
RELOCATABLE BUILDING A building designed to be readily moved, assembled, disassembled, stored, and reused; a trailer type building, but not a mobile trailer. Usually considered personal property.
RELOCATION ASSISTANCE Benefits and assistance for Persons whose property is acquired under Title II of PL 91-646. The Acs provides payment for moving and related expenses, replacement housing for owners and tenants, relocation assistance advisory, and last resort housing.
REMAINDER An estate which vests after the termination of the prior estate, such as a life estate. It is created at the same time and by the same instrument as another estate and limited to arise immediately upon the termination of the other estate.
RENT A compensation, either in money, provisions, chattels, or labor, received by the owner of real estate from the occupant.
REPLACEMENT COSTS Cost of a building with equivalent utility but with modern materials and eliminating deficiencies of the building it replaces.
REPRODUCTION COSTS Cost of building an exact duplicate of a structure, including deficiencies.
REPROGRAMMING Transfer of funds from one appropriation account to another, for purposes different from the original appropriation.
RESERVATION A right reserved by an owner in the grant (sale or lease) of a property.
RESERVED PUBLIC LANDS See WITHDRAWN PUBLIC LANDS.
RESIDUAL ESTATE That which remains of a testator's estate after deducting the debts, bequests, and devises.
RESTRICTION A limitation upon the use or occupancy of real estate, placed by covenant in deeds or by public legislative action.
RESTRICTIVE COVENANT A clause in a deed limiting the use to which the property may be put.
REVERSION The residue of an estate left in the grantor to commence in possession after the determination of some particular estate granted out by him. The return of land to the grantor and his heirs after the grant is over.
REVERSIONARY INTEREST The interest that a person has in lands or other property upon the termination of the preceding estate.
REVOCATION The recall of a power or authority conferred, or the vacating of an instrument previously made.
RIGHT OF SURVIVORSHIP - The distinctive characteristic of a joint tenancy (also tenancy by the entirety) by which the surviving joint tenants) succeeds to all right, title, and interest of the deceased joint tenant without the need for probate proceedings.
RIGHT-OF-ENTRY A written instrument, binding on all parties, which provides authority to enter on certain premises to perform specified acts, without acquiring any estate or interest in the property.
RIGHT-OF-WAY The right or privilege, acquired through accepted usage or by contract, to pass over a designated portion of the property of another.
RIPRAP Loose stone piled on an embankment or slope to prevent erosion or washing-out.
RIPARIAN OWNER One who owns land bounding upon a river or water course.
RIPARIAN RIGHTS The right of a landowner to water on, under, or adjacent to his land, for general purposes, wharfing, and access to navigable waters. The rights of an owner of land on the bank of a stream or river.