Saturday, May 18, 2024, 4:29 PM
Site: Burk Baker School of Real Estate & Appraising
Course: DEMO (DE101)
Glossary: Real Estate Glossary
R
RESCINDTo annul; cancel. |
RESPAAcronym of the Real Estate Settlement Procedures Act, federal legislation passed to regulate disclosure of the buyer's settlement costs. |
RESTRICTIONA clause in a deed or other written instrument limiting the use to which the property may be put. |
REVERSIONThe residue of an estate left to the grantor or his heirs after termination of all prior estates and interests; the right of a lessor to recover possession of leased property upon the termination of the lease, with all subsequent rights to use and enjoy the property. |
REVERSIONARY INTERESTA present right to future possession of an estate. |
RIDERAn addition, amendment or endorsement to a contract or other document. |
RIGHT OF SURVIVORSHIPThe right to acquire the interest of a deceased joint owner; distinguishing feature of a joint tenancy. |
RIGHT OF WAYAn easement or right of passage over another's land. |
RIPARIAN RIGHTSThe right of a landowner to the use of water on or adjacent to his land. |
RUNNING WITH THE LANDA covenant which extends beyond the original parties to an agreement and binds all subsequent parties. |