Wednesday, May 8, 2024, 4:14 PM
Site: Burk Baker School of Real Estate & Appraising
Course: DEMO (DE101)
Glossary: Real Estate Glossary
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HABENDUM CLAUSEThe portion of a deed beginning "to have and to hold", which usually follows the granting clause, and explains or limits the estate granted. |
HABITATION - Civil Law TermThe nontransferable real right of a natural person to dwell in the house of another. One of the three types of personal servitude, (others are usufruct and right of use). |
HEIROne, generally in direct line of descendancy, who receives any property by action of law in intestate successions. |
HEIRSHIP, FORCED - Civil Law TermLouisiana descendants are required to inherit certain portions of their deceased parents' property. |
HIGHEST AND BEST USEThat legal use, which at the time of an appraisal is most likely to produce the greatest net return over a given period of time. |
HOLDOVER TENANTA tenant who remains in possession of a property after expiration of the lease term. |
HOLOGRAPHIC WILLUnwitnessed will hand-written by the person leaving the will. |
HOMESTEADThe house and adjoining land of a family. In Louisiana, statutory exemptions against the right of general creditors is set at a maximum of $15,000. Property tax exemptions is $7,500 of assessed value. |
HOMOGENEOUSThe same or similar kind of structure; similar; as used in appraising, homogeneity tends to stabilize values in an area. |
HYPOTHECATETo pledge property as security; to mortgage. |