Real Estate Glossary

The clause in a mortgage which permits the holder to increase or decrease the interest rate during the term of the mortgage.

The reverting of property to the state when heirs capable of inheriting are lacking, or the property is abandoned.

The deposit of instruments and funds with instructions to a third neutral party to carry out the provisions of an agreement or contract.

The degree, quantity, nature and extent of interest a person has in real property.

A lease; an interest in land by virtue of a contract for the possession for a definite and limited period of time.

A doctrine which bars one from asserting rights which are inconsistent with a previous position or representation.

An instrument executed by the mortgagor to the assignee upon the sale of the mortgage, setting forth the present status of the mortgage and attesting to its validity.

Latin for "and others".

Latin for "and wife".

A legal proceeding by a landlord to recover possession of leased premises from a tenant due to some breach of the lease contract.