United Country Guardian Real Estate - Dillon, Beaverhead Madison County Southwest Montana Real Estate for sale

Dictionary / Glossary / Directory
of Real Estate Terminology
Definitions & Commonly Used
Real Estate Terms

Confused & overwhelmed by the overwhelming number of real estate terms and words? Every person working in real estate or planning to buy or sell real estate can benefit by using this dictionary directory glossary of real estate terminology, definitions and commonly used terms.

Real Estate Terminology Definitions & Commonly Used Terms
In Alphabetical Order

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    Waste:

  • The deterioration of real property caused by abusive conduct, such as actual physical damage or excessive deferred maintenance. In a mortgage deed of trust, it is customary for the trustor (debtor) to agree not to commit waste during the life of the mortgage, so as to protect the security of the lender. Waste thus becomes a default under the mortgage, and the lender can initiate foreclosure.
    • Without Recourse:

    • Without liability. When a person endorses a note in such a manner that he does not guarantee its payment, the note is "without recourse." Also, in some real estate transactions, a borrower may sign a note as maker, "without recourse," which forces the creditor to look solely to the collateral for repayment of the loan. Also, a creditor to a limited partnership is "without recourse" to the limited partners. All purchase-money mortgages are without recourse.

    • Real Estate Terminology Definitions & Commonly Used Terms
      In Alphabetical Order

      A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z


      While great care has been undertaken to provide accurate explanations and definitions for real estate terms and words in our real estate terms dictionary glossary dirctory, no real estate vocabulary dictionary cannot be completely accurate in all jurisdictions. Any / all definitions are for general purposes only and should not be used for any legal purpose. By use of this dictionary glossary directory of real estate terms, you agree to hold United Country - Guardian Real Estate harmless for any responsibility for any liability, loss or risk that may be claimed or incurred as a consequence of using this information.