Real Estate Glossary

Gradual additions to land by deposits of sand or soil by bordering waters through natural causes.

The difference between the cost of a replacement new, on the date of the appraisal, and the present appraised value.

Those incurred expenses which are not yet payable. The seller's accrued expenses are credited to the purchaser in a closing statement.

A written statement of charges against the licensee, delivered to him prior to a hearing regarding the possible revocation or suspension of his license.

A formal declaration made before a notary public or other authorized person, by a person who has executed an instrument, that such execution is his free act and deed.

Civil Law Term: A concept existing in Louisiana Civil law which is similar to the Common Law concept of adverse possession.

A measure of land equal to 160 square rods, 4,480 square yards, or 43,560 square feet.

The volume of water equal to the quantity of water required to cover 1 acre 1 foot deep; 43,560 cubic feet.

The final installment payment on a note which is greater than the preceding installment payments and pays the note in full.

A deed used to convey title to real property, which may or may not include warranties; if any, they are generally limited to an assertion by the grantor that he has possession of the property.