Real Estate Glossary

A method of conveying real property by trading with another property.

A written instrument giving one agent the right to sell property for a specified time, but reserving the right of the owner to sell the property himself without the payment of a commission.

A written agreement between owner and agent giving the agent the right to collect a commission if the property is sold by anyone during the term of his agreement.

To complete, to perform, to make, to do, to follow out; to execute a deed, to make a deed, including especially signing; to execute a contract, to perform the contract, to follow out to the end, to complete.

A contract that is fully signed or performed.

A person named in a will to carry out its provisions as to the disposition of the estate of a deceased person.

A contract not yet fully performed.

Described as the fastest way to foreclose on a mortgage for nonpayment of debt; this method must be expressed in the mortgage contract and signed and agreed to by all parties.

Feminine of executor.

Clearly stated duties of an agent set forth by his principal.