Thursday, March 28, 2024, 5:33 PM
Site: America's Real Estate Academy, Inc.
Course: America's Real Estate Academy, Inc. (AREA)
Glossary: Real Estate Glossary
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habendum clauseis not an essential requirement of a deed but if used will follow the granting clause and define or limit the interest being transferred. The habendum clause begins with the words “to have and to hold.” |
Handicap
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headrightsThe earliest property descriptions in Georgia in the eastern area used the headrights approach, which depends on natural boundaries and markers. |
heterogeneityThe uniqueness of land. No two parcels of land are ever exactly the same. |
highest and best useis generally the value sought by the independent appraiser for a subject property. The appraiser is employed to form a value opinion as to the site’s highest and best use “as if vacant” and “as improved.” |
home inspectorprofessionals who provide a deliberate and methodical visual inspection of the interior and exterior of the structure. The home inspector does what most buyers fail to do, make a thorough and objective inspection of the house. |
homeowner associationare entities created by a planned unit development to own the common areas and enforce subdivision restrictions including maintaining and managing the amenities. Financial participation is mandatory to insure funds are available for maintenance. |
homeowner's insurance policya standard insurance policy that protects and covers a real estate owner against financial loss from fire, theft, public liability, and other common risks. |
homesteadLand that is owned and occupied as the family home. In many states a portion of the area or value of this land is protected or exempt from judgements for debts. |
hypothecationTo pledge property as security for an obligation or loan without giving up possession of it. |