Remainder Estate

Definitions In real estate, it is the future interest that is made by the same instrument and at the same time as another estate. It is given the limit to arise immediately once the prior estate is terminated. Created at … more »


Definitions A measurement that the government survey system uses. It consists of a strip of land with a width of six miles and has a direction running north-south. The survey system of the government uses this measurement that consists of … more »

Rent Control

Definitions The local or state governmental agencies’ regulations that restrict the amount of rent that can be charged to the tenant by the landlord; this regulation is a valid example of the police power of the state. The limit or … more »

Rental Agreement

Definitions Also called a lease on a residential property; An oral or written agreement establishing or modifying the terms and conditions, rules and regulations, or any other provisions that concern the occupancy and use of a premises and dwelling unit. … more »


Definitions The obligations and rights appurtenant to the ownership of land that is adjacent to or abutting on any watercourses, like streams and lakes. The incidental privileges, rights and obligations when owning land that is abutting on or adjacent to … more »

Running with the Land

Definitions Covenants or rights binding or benefiting the property’s successive owners are said to run with the land. An example is a recorded deed’s restrictive building covenant where all future owners of the property will be affected. Like a restrictive … more »

Redemption, Equitable Right Of

Definitions A mortgagor who has defaulted on a mortgage obligation has the right to get back or recapture his property’s title if he pays off the entire mortgage obligation before the foreclosure sale happens. When a mortgagor defaults payment on … more »


Definitions This right or privilege to pass over a specified portion of another’s property is obtained by contract or through accepted usage. The privilege or right of a person to pass over a designated part of another person’s property. Such … more »

Sales and Leaseback

Definitions A transaction where an owner typically sells his already improved property and signs a long-term lease as part of the same transaction, thus retaining possession of the property. A kind of transaction where the improved property is typically sold … more »

Quantity Survey

Definitions The method used to estimate the reproduction cost or construction cost; the highly technical process of arriving at a new construction’s estimated cost. Sometimes referred to as the price take-off method in the building trade. The highly technical method … more »

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Shawntel L. Techaira, Rental REALTOR®

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