Real Estate Glossary
Browse the glossary using this index
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voluntary lienA lien placed on property with the knowledge and consent of the property owner. | |
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warranty deedalso known as a general warranty deed, contains the maximum protection for grantees. The following covenants and warranties; seisin, quiet enjoyment, further assurance, against encumbrances, and warranty forever, are contained in the warranty deed either expressly in some states or by implication. A warranty deed is used in the standard real estate transaction. | ||
water rightscommon law rights held by owners of land adjacent to rivers, lakes, or oceans, and includes restrictions on those rights and land ownerships. | |
water tableupper surface of the aquifer or underground water system. The existence of a high water table on the site may create long term foundation and dampness problems that could have an impact on the site’s value. | |
web site management toolstools that licensees can purchase to help with their marketing efforts. | |
workers' compensation actA state law requiring all employers to provide insurance coverage for their employees. Therefore, if a salesperson is injured on the job, he or she will be covered for specified medical expenses and lost wages. | |
wraparound loanborrower might have an existing loan but needs additional financing. A second loan is made which is larger than the first and the new payments will be made to cover both loans. The first loan might contain a prepayment penalty forcing the borrower to pay a large penalty if paid off early. | |
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year's supportHas replaced dower and curtesy in Georgia. A surviving spouse and/or minor can petition the probate court to have real and/or personal property set aside from the estate to provide for 12 months' support from the date of the decedent's death. | |
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zero lot lineis a zoning concept that allows owners to build one or more sides of a structure on the property line. | |