Real Estate Glossary
Terms and concepts to improve your real estate understanding.
Browse the glossary using this index
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the transfer of the rights and obligations under a contract to another party.
to take on a responsibility or duty
A person who is allowed by another person to act in his or her place with a power of attorney.
The sudden tearing away of land, as by earthquake, flood, volcanic action, or the sudden change in the course of a stream.
The principle of balance requires the appropriate blend of the four factors of production. For maximum value to be achieved land, labor, capital, and management must be in the proper proportion to each other.
A permanent reference mark or point established for use by surveyors in measuring differences in elevation,