A state or condition of real estate title characterized by the existence of a defect or encumbrance which adversely affects the title and causes it to be unmarketable.

A commercial or residential building with an unfinished interior and lacking heating, ventilating, and air conditioning (HVAC), and usually without lighting, plumbing, ceilings, or walls. A cold shell is ready for warm shell or vanilla shell improvements (VSI), which are usually completed once the lease agreement has been signed.
Synonymous with grey shell or base shell.

1. Usefuleness or desirability as a business, commodity, or investment. 2. A quality or characteristic of an investment, property, goods, or services such that it can be sold or traded at a profit.

A judicial or administrative proceeding to exercise the power of eminent domain, which is the power of the government to take private property for public use.

1. An easement designed to preserve and protect open space or important natural areas.
2. A legal agreement between a landowner and either a land trust or government entity that restricts land use and development on a parcel of real property so as to preserve and protect its conservation and natural resource values.

1. Real or personal property that is visible and has physical form, as opposed to intangible property such as rights or patents.
Same as tangible property.
2. Real property consisting of land, improvements to the land (tenements), and physical appurtenances such as sidewalks.

Equal to the total liabilities of a company or business divided by the total amount of equity owned by its shareholders; a measure of the financial leverage of a business, usually determined from the previous fiscal year's financial statements. The debt-equity ratio identifies the portion of a company's assets that are financed through debt rather than shareholders' equity; a debt to equity ratio greater than 1 means that a larger proportion of assets are financed through debt, which may indicate a riskier investment.

A written instrument by which a property owner (grantor) transfers to a grantee ownership of and title to real property.

Any fact, claim, lien, encumbrance, or document that is sufficiently valid to adversely affect, injure, impair, or cast doubt upon the title to a parcel of real property.

Deriving little or no value from on-site facilities or amenities.

Doing business as (DBA) refers to a "fictitious name" or business entity name that does not carry the name of the principal. Example: Your name is Smith, but you choose to call your business "Speedy House Painting" and not "Smith House Painting".
In the United States, fictitious names must usually be registered at the state level, with the Secretary of State or some other such office. The term "fictitious" is used in a legal sense and does not imply that the business is dishonest or disreputable.

A lease agreement, usually long-term commercial or industrial, in which the tenant (lessee) agrees to pay property taxes and insurance in addition to periodic rent, and the landlord (lessor) agrees to pay for property maintenance.
Also known as a net,net lease (or net-net lease).

1. Strict adherence to and accomplishment of professional (especially fiduciary) responsibilities, duties, and tasks; attention to detail in research or the performance of legal and professional obligations, especially by one acting as agent or attorney.
2. The obligation of a buyer (or prospective buyer) of real or personal property to verify and substantiate all claims and representations made by the seller and/or his or her agents. Due diligence on the part of the buyer is often accomplished by retaining qualified, licensed professionals to conduct various inquiries or perform various duties on his or her behalf. Examples of such professionals include, but are not limited to:
   Real estate brokers, agents and salespersons
   Licensed home inspectors
   Real estate attorneys
Title research and title insurance companies
   Licensed real estate appraisers

The cash deposit (including initial and additional deposits) paid by the prospective buyer of real property as evidence of his good faith intention to complete the transaction; called hand money or a binder in some states.

Any claim, lien, charge or liability attached to and binding upon real property which may lessen the value of the property but will not necessarily prevent transfer of title.

The right of a mortgagor who has defaulted on the mortgage note to redeem or recover the title to the property by paying off the entire mortgage note prior to the foreclosure sale.

The reversion of property to the state when a decedent dies intestate and there are no heirs capable of inheriting, or when the property is abandoned.

Definition:
1. All the property, possessions, and capital one owns, both real and personal, tangible and intangible.
2. The degree, level, quantity, quality, nature, characteristics, duration, and extent of the possessory interest one owns in real property.
3. In the feudal era, any of the three political classes: the Lords Spritual (the clergy), known as the first estate; the Lords Temporal (nobility, royalty, tenants-in-chief, etc.), known as the second estate; and the Commons (bourgeoisie), known as the third estate. In contemporary usage, journalists are known as the fourth estate.
4. The assets and liabilities of a deceased person, or one that is bankrupt.
5. A parcel of real property, varying in size but generally larger than a standard lot, with a residence (often a large house or mansion) and several outbuildings consisting of guest and servant quarters, barns, storage facilities, or the like.


Terms and Definitions: Real Estate, Legal (Law), Management, Appraisal, Auction, Finance and Investment, Taxes and Taxation, Title and Title Insurance

The degree, quantity, quality, nature, and extent of the present or future possessory interest one owns in real property. There are different types of estates in land; each is distinguished by the characteristics of its interest and by its potential or actual duration.

The highest monetary price a property would bring, if offered for sale in an arm's-length transaction for a reasonable period of time in a competitive market. Also known simply as market value.

A specific geographic area in which a real estate broker or salesperson chooses to specialize. In rural markets, farm areas may be quite large in size. In urban real estate markets, farm areas tend to be smaller, often individual neighborhoods or even single buildings or complexes.

An agency of the United States government created to investigate and eliminate unfair and deceptive trade practices in business.

System of real estate title based in English law. All lands are owned and taxed by the king or other sovereign, who grants the right to possess real estate. Real estate is held as a life estate only, and ownership reverts to the king or other sovereign upon the death of the grantee.

System of title based in English law. All lands are owned and taxed by the king or other sovereign, who grants the right to possess real estate. Real estate is held as a life estate only, and ownership reverts to the king or other sovereign upon the death of the grantee.

Raw land that has been prepared for the construction of buildings, including the installation of improvements such as sewer and electric lines, streets, public facilities and common areas, and so on. This phrase may refer to any unit of real property such as a lot, parcel, complex, or development.