Real Estate Glossary

Federal legislation forbidding discrimination in the sale, rental, and financing of real estate on the basis of race, color, religion, sex, handicap, familial status.

A federal agency which buys mortgages in the secondary money market from commercial banks and federally insured savings and loan associations; "Freddy Mac".

An agency of the federal government which insures certain real estate loans.

A part public, part private corporation that buys and sells mortgages in the secondary money market. "Fannie Mae".

The national controller of the money supply, the Federal Reserve System regulates the printing of money, buys and sells bonds, and controls the reserve requirements of its member banks.

An estate granted absolutely but only so long as a specified event occurs or does not occur.

A fee estate which exists only until a specified event does or does not occur. Upon the happening of such event, the fee automatically ends and reverts back to the original grantor, or to his estate.

An estate in real property, by which the owner has the greatest power over the title which it is possible to have, being an absolute estate; an estate of inheritance belonging to the owner, that he may dispose of, trade, or will, as he chooses.

An estate which was inheritable by particular lineal heirs. Upon lack of such heirs the estate reverted back to the grantor or his heirs. No longer recognized.

The title insurance policy covering the property owner.