Real Estate Glossary

Terms and concepts to improve your real estate understanding.
Browse the glossary using this index

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Adding or combining successive periods of continuous occupation of real property by adverse possessors. This concept enables someone who has not been in possession for the entire statutory period to establish a claim of adverse possession.
Entry link: tacking


The process by which a government or municipal quasi-public body raises monies to fund its operation.
Entry link: taxation

tenancy by the entireties

is a special ownership created for husband and wife. In a tenancy by the entireties, both the husband and wife own 100% of the property. The marital partners must take title at the same time and through the same deed. Some states require specific verbiage to be included in the deed. This form of ownership is not recognized by all states and is not available in Georgia.
Entry link: tenancy by the entireties

tenancy in common

ownership in real estate by two or more people. Each person owns a separate and divisible interest in the property that will be inherited by their heirs upon death unless directed otherwise by a will. Ownership as tenants in common is the default estate should the deed conveying title not specifically provide for another type.
Entry link: tenancy in common

tenant compatibility

A manager must make sure that a certain place is suitable for a tenant in location, size, and amenities. The manager should also make sure the tenant is able to pay for the space. Tenant compatibility is simply making sure the tenant is a good choice for the space you are managing.

Entry link: tenant compatibility

tenant improvements

Also called construction allowance, it is money to a lessee from the lessor to cover the cost, partially or in all, of preparing a structure for the lessee's occupancy. This could include costs for partitions, wiring, lighting, and standard carpeting.

Entry link: tenant improvements


refers to the status of a deceased and their estate when a will exists. When a person dies with a will, they are said to die testate.
Entry link: testate


is the man who makes a will, testatrix if a female.
Entry link: testator

Tie-in arrangement

Offering products together as part of a package. For competitive purposes, a monopolist may use forced buying, or "tie-in" sales, to gain sales in other markets where it is not dominant and to make it more difficult for rivals in those markets to obtain sales.


Entry link: Tie-in arrangement


is a form of ownership that allows access or occupancy for only a designated or specific time period.
Entry link: time-share

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