Real Estate Agent Directory
Real Estate Agent Directory & Consumer Guide
 
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
Radon  
A radioactive gas that can cause health problems if present in sufficient concentration, found in some structures.
Rate cap  
In an adjustable-rate loan, the ceiling on the amount that the interest rate can be increased at each adjustment.
Rate lock, or lock-in  
A commitment to a specified fixed interest rate for a designated period of time, issued by a lender.
Real estate agent  
An individual trained and licensed to negotiate the sale of real estate on behalf of the property owner.
Real estate investment trust (REIT)  
An organization of individuals who purchase certificates of ownership in the trust, which then invests their money in real property, distributing the profits back to the individual investors free of corporate income tax.
Real Estate Settlement Procedures Act (RESPA)  
A federal consumer protection law that requires certain disclosures of lenders to consumers relative to mortgage loans.
Real property  
Land and appurtenances permanently on it, including buildings, trees, minerals, and the interest, benefits, and inherent rights thereof.
Realtor  
A real estate professional who holds active membership in a local real estate board that is affiliated with the National Association of Realtors.
Recision  
The cancellation or annulment of a transaction or contract based on law or by mutual consent.
Recording  
The entering or noting of documents affecting all transactions of real estate in the recorder's office in each county, making it public record; until recorded, a mortgage or deed is usually not valid against subsequent buyers.
Recording fees  
Payment made to the lender for recording the sale of a property with the county office.
Refinance  
To obtain a new mortgage loan on a property already owned.
Regulation Z  
A federal law that requires disclosure by a credit institution or lender of the terms, conditions, and full cost of a loan or mortgage, including the annual percentage rate and any other charges, to the borrower when they apply for the loan.
Remainder  
An interest in land that is postponed until the termination of some other interest.
RESPA  
Abbreviation for the Real Estate Settlement Procedures Act, which is a federal law that requires lenders to provide information on estimated settlement costs, which is available for review by the buyers one time after application, and again once prior to.
Restrictive covenants, or Protective covenants  
A provision in a deed that limits how real estate ownership may be used.
Reverse-annuity mortgage (RAM)  
A loan or mortgage whereby the amount of the monthly payments the borrower receives is based on accumulated equity, rather than on the agreed-upon total sum loaned.
Reversion  
A clause in a transfer of title that returns the property to the grantor upon specified events or occurrences happening.
Right of first refusal  
The right specified in an agreement to have the first opportunity to purchase or lease a given property before it is offered to others, or alternately, the prior right to purchase a property based on the same terms made by another buyer that were acceptab.
Right of survivorship  
In joint tenancy, when one of the joint tenants dies, the right of the survivors to the deceased's interest in the property.
Right-of-way  
Permission to pass across the property of another.
Riparian rights  
The right of an owner of property to make use of waterways adjoining the property.
 
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