Real Estate Glossary

The act of converting future income into current equivalent value.

The relationship or ratio between the net income from a real estate investment and the value of the investment, usually expressed as a percentage; the rate of interest which is considered a reasonable return on the investment.

The reason a person obligates himself.

Let the buyer beware; the buyer must examine the goods or property and buy at his own risk.

An abbreviation of covenants, conditions, restrictions, rights of way, and recorded easements.

The document which verifies the entitlement of an individual to the benefits of the Servicemen's Readjustment Act of 1944 by establishing his service record qualifications with the government agency.

Commonly known as C.R.V.; this is the appraisal commitment of the Veteran's Administration used to fix the value of a property being proposed for purchase by a veteran under the GI bill of rights.

A certification based on immediately available public records and issued by a title company, or an opinion rendered by an attorney that the seller has good, marketable and/or insurable title to the property.

Commonly known as C.P.M.; this identification is bestowed upon any property manager who has met the requirements of the Institute of Property Management operated under the auspices of the National Association of Realtors.

A sequential history of the conveyances and records of ownership to a piece of property through the years from the original grant to the present, as revealed through the public records.