Canadian Financial, Real Estate and Mortgage Glossary

Realty Terms

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Abandonment — Architectural Fees
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Architectural...Book Value
abandonmentDefinition (Mortgages, Real-estate)
A disclaimer of ownership by the trustee or debtor in property deemed burdensome or inconsequential. Once property has been "abandoned" it is no longer the property of the estate and creditors can seek to recover their money.
abstract of title (ab)Definition (Mortgages, Real-estate, Abbreviation, Legal-contracts)
A written history of all the transactions that bear on the title to a specific piece of land. An abstract of title covers the time from when the property was first sold to the present.
  ➥  AB is a common abbreviation for Abstract of Title when used in property listings and real estate classifieds.
acceptanceDefinition (Mortgages, Real-estate, Legal-contracts)
A property seller's formal, written approval of a buyer's offer.
accounting of sale (AOS)Acronym
accredited auctioneer, real estate (AARE)Acronym
Accredited Buyers Representative (ABR)Acronym (Designation)
Accredited Distressed Property Representative (ADPR)United States
  ➥  A US accreditation.
Accredited Residential Manager (ARM)Canada
  ➥  Real Estate Institute of Canada accreditation.
acreDefinition (Real-estate)
43,560 square feet. A plot of land 180 by 242 feet is one acre.
acre(s) (ac)Abbreviation (Abbreviation)
actual ageDefinition (Real-estate, Insurance)
The years since a structure was built. Differs from effective age.
actual cash value (ACV)Definition (Insurance)
The replacement cost of an insured asset with depreciation accounted for.
actual days on market (ADOM)Acronym
additional propertyDefinition (Mortgages, Real-estate)
A property that is owned by the person that is not being financed.
adjusted basisDefinition (Real-estate, Financial-banking)
The amount you use to determine your profit or loss from a sale or exchange of property.
adverse possessionDefinition (Real-estate, Legal-contracts)
A means of getting title to land by using it without the objection of the title holder.
adverse useDefinition (Real-estate, Legal-contracts)
Use of someone's property without permission.
after repair market value (ARMV)Acronym
after repair value (ARV)Acronym
An approximation of a property's market value after needed repairs or renovations are made.
  ➥  Similar to Fair Market Value.
agency (agcy)Definition (Investments, Mortgages, Real-estate, Insurance, Financial-banking, Abbreviation, Legal-contracts)
A relationship between two parties -- a client and an agent -- in which the agent represents the client in transactions with a third party.
agency approved (APPR)Acronym (Abbreviation)
agency closingDefinition (Mortgages, Real-estate, Financial-banking, Legal-contracts)
The use of a title company to supervise the meeting where the property is transferred and mortgage is settled.
agent (agt)Definition (Investments, Mortgages, Real-estate, Insurance, Financial-banking, Abbreviation, Legal-contracts)
A person who acts on behalf of another. In real estate, an agent is a person who conducts transactions on behalf of sellers and sometimes buyers.
agreed boundaryDefinition (Real-estate, Legal-contracts)
Property lines that are drawn to settle a dispute between neighbouring property owners.
agreement of sale (AOS)Definition (Real-estate, Legal-contracts)
A document in which a property's buyer and seller approve the price and other terms of the transfer of title.
air installations compatible use zones (AICUZ)Acronym
air lock (AL)Definition (Real-estate)
A small room with two doors, one door leads to the outside and one leads into the rest of the home.
Alberta New Home Warranty Program (ANHWP)Company Est.1974, Alberta, Canada
Provides a standardized package of warranty protections and services for use by home builders in Alberta.
Alberta Real Estate Association (AREA)Company, Calgary, Alberta, Canada
Alberta Real Estate Foundation (AREF)Company Est.1991, Alberta, Canada
Alberta Real Estate Insurance Exchange (AREIX)Company, Alberta, Canada
alienation clauseDefinition (Mortgages, Real-estate, Legal-contracts)
A requirement that the borrower pay the mortgage in full upon transfer of the property.
allowancesDefinition (Real-estate)
Money set aside by builders for amenities, such as driveways, landscaping, carpeting and fixtures, that are standard but have optional designs.
amenitiesDefinition (Real-estate)
Amenities are features such as green space, playgrounds, community centres, shopping malls, or swimming pools that make a neighbourhood or community more desirable for living.
annexDefinition (Real-estate, Financial-banking, Legal-contracts)
To add one thing onto another.
apartment (apt)Abbreviation (Abbreviation)
appraisalDefinition (Mortgages, Real-estate)
An estimate of the market value of a piece of real estate made by a competent professional who knows local real estate prices and markets.
appraisal feeDefinition (Mortgages, Real-estate)
What someone charges to deliver a professional opinion about how much a property is worth.
Appraisal Institute of Canada (AIC)Company Est.1938, Ottawa, Ontario, Canada
Provides regulations and standards within the Canadian appraisal industry.
Appraisal Institute of Canada – Newfoundland and Labrador (AICNL)Company, Newfoundland and Labrador, Canada
  ➥  Represents members of the Appraisal Institute of Canada (AIC) located throughout the province of Newfoundland and Labrador.
appraisal or appraiser (ap)Definition (Abbreviation)
An estimate of the market value of a piece of real estate made by a competent professional who knows local real estate prices and markets.
appraisal reportDefinition (Mortgages, Real-estate)
A detailed evaluation of the value of a property based on an inspection and a review of the values of nearby, comparable properties.
appraised fair market value (AFMV)Acronym
appraised valueDefinition (Mortgages, Real-estate)
An educated opinion of how much a property is worth.
appraiserDefinition (Mortgages, Real-estate)
A person qualified by education, training, and experience to estimate the value of real property and personal property.
appreciationDefinition (Investments, Real-estate, Financial-banking)
An increase in the value of a property or item.
approvalDefinition (Mortgages, Real-estate, Financial-banking)
An assessment made by a lender of a borrower's ability to pay for a home and a confirmation of the amount the borrower may obtain.
approximate market value (AMV)Acronym
architectDefinition (Real-estate)
One who designs buildings.
architectural feesDefinition (Real-estate)
Compensation paid to a person who designs buildings.
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Abandonment — Architectural Fees
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Architectural...Book Value

Search the Glossary

Index of Realty Terms

Page 1: Abandonment
Architectural Fees
Page 2: Architectural Significance
Book Value
Page 3: Boot
Page 4: Carport
Commercial Property...
Page 5: Commercial Property Manager
Page 6: Credit Repository
Electric or Electricity
Page 7: Elevator
Flood Plain
Page 8: Floor Plan
Inspection Report
Page 9: Inspection Required
Local Improvement Charge
Page 10: Local Taxes
New Home Warranty Program
Page 11: Newfoundland Association of...
Price Related Differential
Page 12: Prince Edward Island Real...
Real Estate Investor
Page 13: Real Estate Magazine
Second Home Mortgage
Page 14: Security
Title Defect
Page 15: Title Insurance
Yukon Real Estate...
Page 16: Zero

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