Real Estate Glossary

Property which borders a large body of water, such as a lake, ocean, or sea.

The charge made by a lender to make a loan.

In subdividing land, the tract is first assigned a name and each block and lot within that subdivision is numbered or lettered. A map of the subdivision is then recorded with the proper governmental authority.

Loan to value ratio; the relationship in size between the amount of the borrower's loan and the value of the property. Found by dividing the loan amount by the property's appraised value or selling price, whichever is less; the percent of value which the bank will lend.