abstract

→ Norwegian Bokmål: abstrakt

From Middle English abstract, borrowed from Latin abstractus, perfect passive participle of abstrahō (“draw away”), formed from abs- (“away”) + trahō (“to pull, draw”). The verbal sense is first attested in 1542.

xifra

something that concentrates in itself the qualities of something else

(real estate) A summary title of the key points detailing a tract of land, for ownership; abstract of title.

abridgment

statement summarizing the important points of a text


square

→ Welsh: sgwâr

From Middle English square, sqware, squyre; from Old French esquarre, esquerre, (modern French équerre), from Vulgar Latin *exquadra, from Latin ex- + quadro, from quadrus (compare English quad and quadra). Doublet of squad and squadra.
Displaced Old English fēowerecge (fēower nominative + ecg accusative, as in "four-edged").

2006, Macquarie Bank (Australia), press release Macquarie releases Real Estate Market Outlook 2006 - "The World Squared", 21 June 2006 http://www.macquarie.com.au/au/about_macquarie/media_centre/20060621.htm
Just as the basic unit of real estate measurement across the world is the square

2007, Your Estate advertisement for Grindelwald Tasmania http://www.yourestate.com.au/property_12753.php
The house is very large and open and boasts 39 squares of living space plus over 13 squares of decking area on 3 sides and 17 squares of garage and workshop downstairs.

(real estate) A unit of measurement of area, equal to a 10 foot by 10 foot square, i.e. 100 square feet or roughly 9.3 square metres. Used in real estate for the size of a house or its rooms, though progressively being replaced by square metres in metric countries such as Australia.


bath

→ Lingala: báfu

Etymology tree
Proto-Indo-European *bʰeh₁-
Proto-Germanic *baþą
Proto-West Germanic *baþ
Old English bæþ
Middle English bath
English bath
From Middle English bath, baþ, from Old English bæþ (“bath”), from Proto-West Germanic *baþ, from Proto-Germanic *baþą (“bath”), from Proto-Indo-European *bʰeh₁- (“to warm”). Corresponding inherited verbs are beath and bathe.

etymon

barf (non-rhotic, trap–bath split, th-fronting)

The master bath has two sinks.

(real estate, informal) Clipping of bathroom.


googolplex

googolplexes (plural)
googleplex (alternative)

Columbia University
Edward Kasner
Mathematics and the Imagination

From googol + -plex, coined by American mathematician Milton Sirotta in 1920 who was then the young nephew of mathematician Edward Kasner. First published and defined in the book Mathematics and the Imagination (1940).

coin

To a mathematician, a googolplex is the figure 1 followed by a googol of zeroes (a googol being the figure 1 followed by a mere 100 zeroes). To a real-estate man, it's one infinitesimal parcel of a plot of land.

1962, Newsweek: The International Newsmagazine, volume 60, New York, N.Y.: Newsweek LLC, →ISSN, →OCLC, page 54:

Competition among bidders eventually resulted in the discovery of the "Googolplex," a quantity supposedly as near to nothing as possible—one over one with countless zeros [as the size of the portion of land the bidder would accept as security for a tax lien]. This, however, was not the limit of minuteness. The "Googolplex of a Googolplex," or "Gee Gee" for short, became the common bid in the sale of City of Miami tax certificates. There has apparently been no authoritative determination of the effect of an outstanding Miami tax certificate […]

1976, Ralph E. Boyer, Florida Real Estate Transactions, New York, N.Y.: Matthew Bender & Co., →OCLC, pages 930–931:

(US, real estate, nonstandard, rare) An infinitesimally small portion of land, defined for legal purposes.


development

en-noun

development (countable and uncountable, plural developments)

developments (plural)
developement (alternative)

From French développement, from Old French desvelopemens (“unrolling”). By surface analysis, develop + -ment. First attested in 1756.

(real estate, countable) A project consisting of one or more commercial or residential buildings.

(real estate, uncountable) The building of such a project.


staircase

en-verb

staircase (third-person singular simple present staircases, present participle staircasing, simple past and past participle staircased)

staircases (present singular third-person)
staircasing (participle present)
staircased (participle past)
staircased (past)
stair-case (alternative)

It is a good idea to make plans for staircasing when you first buy your shared ownership home.

2018, Dave Cowan, Helen Carr, Alison Wallace, Ownership, Narrative, Things, Springer, →ISBN, page 139:

(real estate) To increase one's share in a co-ownership.


folium

en-noun

folium (countable and uncountable, plural foliums or folia)

LL-Q1860 (eng)-Flame, not lame-folium.wav

From Latin folium (“leaf”). Doublet of foil and folio, distantly also with phyllo and phyllon.

There may nevertheless be a separate certificate and folium for any derived estate deed.

1872, Registration of Title (Australian Colonies), page 6464:

When this occurs, the existing declaration of title or conveyance is cancelled, the existing folium of the record closed, a fresh declaration of title issued to the new proprietor, and a new folium opened in the record book, upon which are carried forward the memorials of all lesser estates, interests, and charges affecting the land, and continuing current at the time of recording the change of ownership of the freehold.

1872, Edward Jenkins, Discussions on Colonial Questions, page 59:

The duplicate certificates are bound into a register and each forms a distinct folium of the register of one or more pages, for recording all dealings affecting the land, whether fee simple, lesser estate, mortgage, charge or interest, whether subsisting at the time the certificate is issued or subsequently created.

1899, Proceedings of the Eighteenth Annual Session of the Texas Bar Association, page 24:

Where land is the subject of frequent dealings, a stage is reached at which the folium of the land-register becomes incapable of holding futher endorsements.

1961, John Baalman, The Singapore Torrens Systems, page 65:

A document that acts as the legal record of a transaction.

(especially real estate) A certificate of title.


deed

From Middle English dede, from Old English dēd, dǣd (“deed, act”), from Proto-West Germanic *dādi, from Proto-Germanic *dēdiz (“deed”), from Proto-Indo-European *dʰéh₁tis (“deed, action”). Analyzable through Proto-Germanic as do + -th. Doublet of thesis.
The real estate sense derives from the fact that property deeds are traditionally used to demonstrate proof of ownership of a legal title in common law jurisdictions, such as England & Wales and most of the United States.
Cognates
Cognate with West Frisian died, Dutch daad (“deed, act”), German Low German Daad, German Tat (“deed, action”), Swedish, Norwegian and Danish dåd (“act, action”). The Proto-Indo-European root is also the source of Ancient Greek θέσις (thésis, “setting, arrangement”).

cog

I inherited the deed to the house.

(law) A legal instrument that is executed under seal or before a witness; sometimes required for certain legal activities, such as the transfer of certain kinds of property.

(by extension, real estate) The legal title to real estate; ownership.


deed

en-verb

deed (third-person singular simple present deeds, present participle deeding, simple past and past participle deeded)

deeds (present singular third-person)
deeding (participle present)
deeded (participle past)
deeded (past)

He deeded over the mineral rights to some fellas from Denver.

(real estate, informal) To transfer real property by deed.


situs

Borrowed from Latin situs (“position, site”). Doublet of site and sitio.

(real estate) The portion of an address comprising street number and street name, such as "3912 Park Drive".


compensation

en-noun

compensation (countable and uncountable, plural compensations)

From Middle English compensacioun, from Old French compensacion, from Latin compensātiōnem, accusative singular of compensātiō.

(real estate) An equivalent stipulated for in contracts for the sale of real estate, in which it is customary to provide that errors in description, etc., shall not avoid, but shall be the subject of compensation.


underlet

en-verb

underlet (third-person singular simple present underlets, present participle underletting, simple past and past participle underlet)

underlets (present singular third-person)
underletting (participle present)
underlet (participle past)
underlet (past)

LL-Q1860 (eng)-Flame, not lame-underlet.wav


front foot

Land is frequently sold by the front foot or by the square foot of land area.

2002, Ralph Tamper, Mastering Real Estate Mathematics, page 109:

Figures represent value of corners, for lot of average width and depth, in dollars per front foot.

2021, Richard M. Hurd, Principles of City Land Values:

(real estate) The width, in feet, of the front of a property.


MLS

en-noun

MLS (countable and uncountable, plural MLSs)

multiple listing service
w:multiple listing service

(US, real estate) Initialism of multiple listing service.


GFE

GFE (countable and uncountable, plural GFEs)

(Google): Introduced by sex columnist Dan Savage.

As usual, that broker's GFE was off by more than 30% from the final cost.

(real estate) Initialism of good-faith estimate.


leasehold

LL-Q1860 (eng)-Flame, not lame-leasehold.wav

term of years absolute
term of years absolute

(property law) Of an estate in land, held for a term of years absolute by a lessee or tenant.


freehold

freehold (countable and uncountable, plural freeholds)

LL-Q1860 (eng)-Flame, not lame-freehold.wav

(property law) Real property held by a tenure of this type.


fee simple

Sir, for a Cardceue he will ſell the fee-ſimple of his ſaluation, the inheritance of it, and cut th’ intaile from all remainders, and a perpetuall ſucceſsion for it perpetually.

c. 1604–1605 (date written), William Shakespeare, “All’s Well, that Ends Well”, in Mr. William Shakespeares Comedies, Histories, & Tragedies […] (First Folio), London: […] Isaac Iaggard, and Ed[ward] Blount, published 1623, →OCLC, [Act IV, scene iii], page 248, column 2:

It had never occurred to me that a parson has no fee-simple in the house and glebe he occupies.

1787, William Cowper, letter, 19 October

(law) The private ownership of property (real estate) in which the owner has the right to control, use, and transfer the property at will.

永久產權 /永久产权

The rights and privileges of private ownership of property particularly real estate

fee simple subject to condition subsequent

fee simple subject to executory interest

fee simple subject to executory limitation


amortize

en-verb

amortize (third-person singular simple present amortizes, present participle amortizing, simple past and past participle amortized)

amortizes (present singular third-person)
amortizing (participle present)
amortized (participle past)
amortized (past)
amortise (alternative)

From Middle English amortisen, from Old French amortir (via the stem amortiss-), from Vulgar Latin *admortīre, derived from Latin mortuus (“dead”).

(real estate, property law, transitive) To alienate (property) in mortmain.


CAM

(real estate) Initialism of common area maintenance.


warranty

en-noun

warranty (countable and uncountable, plural warranties)

From Middle English warantye, warantie, from Anglo-Norman warrantie, an Old Northern French variant of Old French guarantie (Modern French garantie). Doublet of guarantee and guaranty. More at warrant.

covenant of warranty
covenant of warranty

(countable, law, real estate, obsolete) A legal agreement that was a real covenant and ran with the land: The grantor of a piece of real estate held in freehold, and his heirs, were required to officially guarantee their claim and plead their case for the title. If evicted by someone with a superior claim (paramount title), they were also required to hand over other real estate of equal value in recompense. It has now been replaced by personal covenants and the covenant of warranty.

(law, countable, real estate) A covenant, also called the covenant of warranty, whereby the grantor assures the grantee that he or she will not be subject to the claims of someone with a paramount title, thereby guaranteeing the status of the title that is being conveyed.


AST

AST (countable and uncountable, plural ASTs)

assured shorthold tenancy
w:assured shorthold tenancy

(property law, real estate, England and Wales) Initialism of assured shorthold tenancy.


sublet

(property law, real estate, informal) Synonym of sublease.


time-share

time-shares (plural)
timeshare (alternative)

(business, real estate) A property jointly owned or leased by multiple people who are allowed to use (or sublet) it only during specified periods each year.


time-sharing

(business, real estate) The joint ownership or lease of a property by multiple people who can only use it for specified periods every year, or every other year.


abstract of title

abstract of title (countable and uncountable, plural abstracts of title)

(law, real estate) An epitome of the evidences of ownership; the condensed history of title to a particular parcel of real estate, with encumbrances.


landlocked

From land + locked (i.e. "locked-in by land on all sides").

An easement of necessity, said the court, may be provided when property is landlocked and the owner needs access to that property from a public highway.

2005, Washington Legislative Reference Bureau, State of Wisconsin Blue Book, 2005-2006, page 610:

In some states, the law allows for easements by necessity, especially in circumstances where a property is landlocked.

2005, Thomas J. McEvoy, Owning and Managing Forests: A Guide to Legal, Financial, and Practical Matters, page 49:

For example, if a property is landlocked (entirely surrounded by other privately owned land) and has no access to a public street...

2006, Real Estate Principles, Rockwell publishing, page 114:

(US, real estate, of a property or parcel) Surrounded by other property and having no access to a public road.


subdivide

en-verb

subdivide (third-person singular simple present subdivides, present participle subdividing, simple past and past participle subdivided)

subdivides (present singular third-person)
subdividing (participle present)
subdivided (participle past)
subdivided (past)

This used to be farmland before developers bought it and subdivided it.

Several local families recorded plots of land as additions to the town's territory and subdivided them into house lots.

1993, Historic American Building Survey, Town of Clayburg: Refractories Company Town, National Park Service, 3

(ambitransitive) To divide into smaller sections.

(real estate) To divide a plot of land into plots for residences; to convert open land into housing.


rancher

By the 1960s in North America sprawling ranchers and backsplits with attached garages had become common […]

1987, E. C. Relph, The Modern Urban Landscape: 1880 to the Present, page 174:

We know that if a realtor got a listing for a rancher in the neighborhood of property one: that similar houses there will sell, with some effort, for about $59,000.

2009, Thomas Collins, How to Invest in Real Estate, page 21:

(US, real estate) A ranch-style house, a ranchhouse.


gazump

gazump (third-person singular simple present gazumps, present participle gazumping, simple past and past participle gazumped)

gazumps (present singular third-person)
gazumping (participle present)
gazumped (participle past)
gazumped (past)
gazoomph (alternative)
gazumph (alternative)

Possibly from Yiddish גזלן (gazlen, “thief, bandit”).

If one believes that morality plays no part in such a transaction, and that the law is all that prevails, then I believe society is the poorer. Clearly no surveyor refuses to act for a client who gazumps — but while the practice is legal it can hardly be described as moral, and the position of the surveyor is far from clear.

1980, The Estates Gazette, volume 256, part 2, page 902:

During the early 1970s however in a period of rapidly increasing house prices it came to appear unfavourable to buyers since it allowed the seller to ‘gazump’, that is to refuse to sign the formal contract unless the buyer would agree to an increased price.

1981, Geoffrey Chevalier Cheshire, M. P. Furmston, Cecil Herbert Stuart Fifoot, Cheshire and Fifoot's Law Of Contract, page 35:

(British, Australia, real estate) To raise the selling price of something (especially property) after previously agreeing to a lower one.

I can disclose that Mrs Blair had an offer of £2,765,000 accepted on a five-storey Georgian house in a fashionable area of central London, which she planned to give to daughter Kathryn.¶ However, actress Talulah Riley, 31, who played spoiled Annabelle Fritton in two St Trinian’s films, gazumped her with an offer of £3 million — a staggering £235,000 more than the asking price.

2017 March 15, Sebastian Shakespeare, “Cherie Blair is gazumped on £3m house by Elon Musk's ex-wife”, in The Daily Mail:

We are first-time buyers going through the process of buying our first home in London. We had previously tried three years ago and were gazumped twice. We lost nearly £4,000 to surveyors and solicitors with no property to show for it at the end.

2017 October 22, Nana Prempeh, quoting Nick Smith, “Gazumping: Your views”, in BBC News:

Birmingham's teen sensation Jude Bellingham is nearing a move to Borussia Dortmund, according to reports in Germany.¶ Manchester United and Chelsea have been strongly linked with the 16-year-old but are set to be gazumped by the Bundesliga giants.

2020 March 4, Marc Mayo, “Dortmund leading race for Jude Bellingham, 16, ahead of Man Utd with Birmingham wonderkid to be their record transfer”, in The Sun:

(British, Australia, real estate) To buy a property by bidding more than the price of an existing, accepted offer.


gazump

gazumps (plural)
gazoomph (alternative)
gazumph (alternative)

(British, Australia, real estate) The act of gazumping.


appraisal cost

(real estate, usually in the plural) The costs that are incurred in assessing that products/services conform to the requirements. It relates to testing, executing, and examination to assess whether specified quality is being maintained. Some example component items of the total appraisal costs are: product quality audits, process control monitoring, inspection and testing of goods, and maintenance of test equipment.


shirtfront

It is explained that a "shirt front" building is one of which only the street elevation is given a finished architectural treatment, the sides and back being of cheaper material, with no attempt at unification with the front.

1927, The Bricklayer, Mason and Plasterer, volumes 30-32, page 100:

False fronts, frequently called "shirt fronts," are futile attempts to make a small, cheap house pass for something larger and more valuable.

1967, The Appraisal of Real Estate, page 132:

(real estate, slang) An attractive facade applied only to the front of a house.


RFQS

(real estate) reduced for quick sale: Used when advertising houses at a lower than expected price to indicate that the vendor wants to sell the house quickly.


overbuilt

en-adj

overbuilt (comparative more overbuilt, superlative most overbuilt)

more overbuilt (comparative)
most overbuilt (superlative)

in the overbuilt exurbs of the megalopolis

Having had excessive construction (building) carried out, as:


resi

(real estate, property law) Clipping of residential.


resi

(real estate, property law) Clipping of residential real estate.


subletting

[…] there are sublettings, overcrowdings of lands, clearances, and emigrations going on; and want of employment, with consequent destitution and wretchedness is the complaint of the majority of the inhabitants.

1846, Thomas Campbell Foster, Letters on the Condition of the People of Ireland, page 270:

(property law, real estate) Synonym of sublease.


short sale

(real estate) A property sale negotiated with a mortgage company in which a lender takes less than the total amount due.


FSBO

That's a bad neighborhood for brokers: too many FSBOs.

(real estate) Acronym of for sale by owner, referring to the property.


fisbo

From pronunciation of FSBO (“For Sale by Owner”).

(real estate) A property being sold by the owner, without the aid of a broker.


fizbo

From pronunciation of FSBO (“for sale by owner”).


tax lot

(accounting, real estate, US) An parcel of real property on which property taxes are levied.


TICAM

(real estate) Acronym of taxes, insurance, and common area maintenance.


ground rent

en-noun

ground rent (countable and uncountable, plural ground rents)

"You had better go to the devil and ask him for my ground-rent," he said.

1886, Peter Christen Asbjørnsen, translated by H.L. Brækstad, Folk and Fairy Tales, page 99:

(law, real estate) Rent paid under a ground lease, usually long-term or in perpetuity, for a surface right or estate in land where the landowner (surface owner) and the owner of improvements (ground lessor) are separate; the improvements are effectively security for the payment of the rent.

retributie

1. rent under a ground lease for a surface estate, paid by a ground lessor to a surface owner


overdeveloped

Excessively developed, as:
(real estate, land use) Overbuilt.


teardown

The downtown redevelopment involved numerous teardowns.

Architect and clients also agreed that a teardown wasn’t an option.

2009 February 5, Ernest Beck, “Striped With Light”, in New York Times:

(real estate) A well-maintained structure purchased and torn down to make way for a new structure.


EIK

(real estate advertising) A kitchen with room for a table and chairs, or with a counter meant for eating on and room for barstools.


subletter

subletters (plural)
sublettor (alternative)

(property law, real estate) Synonym of sublessor.


four door house

four door house (plural four door houses)

(real estate) In Taiwan, a house with four doors, specifically a house with a garage, a garage door that connects to the home, a front door, and a back door.


DINO

Modelled after RINO (“Republican in name only”).

(real estate, humorous) Acronym of developer in name only — a real estate development company or individual that is still active, but does not have any developments underway due to a downturn in the market or in the economy in general.


sweat equity

sweat equity (countable and uncountable, plural sweat equities)

My wife and I have put a lot of sweat equity into our home: I did the renovations and she did the redecorating.

Mr. TALLE: His time and his wife's time in that article is called the "sweat equity".
Mr. GRIGGS: Look at the fun they had doing it.

1949, U.S. House of Representatives, Housing amendments of 1949: Hearing before the Committee on Banking and Currency, U.S. Govt. Printing Office, page 203:

(idiomatic, real estate, business) An investment of labour, typically by the owner and often his or her family, usually in a small business or personal residence that increases the value of the business or residence.


balloon payment

balloon payment (plural balloon payments)

So called because the debt becomes inflated like a balloon as a result of the compound interest accumulating on the large sum.

(business, real estate) An unusually large payment due at the end of the term of a loan agreement.


property management

The operation, control and oversight of real estate.


STCA

(real estate) Initialism of subject to council approval.


knight's fee

(law, historical) The specific amount of land giving rise to such requirements generally, being sometimes a hide or less and sometimes six or more hides.


caballeria

From Spanish caballería, from caballero (“horseman, gentleman, cowboy”) + -ía (“-y: forming nouns”), from Late Latin caballārius (“horseman, rider”), from Latin caballus (“horse”) + -ārius (“-ary”). Doublet of cavalry and chivalry.

der

(historical, law) A medieval Spanish land tenure equivalent to a knight's fee, held under an obligation for military service.


bidworthy

en-adj

bidworthy (comparative more bidworthy, superlative most bidworthy)

more bidworthy (comparative)
most bidworthy (superlative)
bid-worthy (alternative)

(real estate, housing market) Worthy of a bid or offer


covenant of warranty

en-noun

covenant of warranty (plural covenants of warranty)

(countable, law, real estate) A legal agreement or promise, one of the English covenants of title and future covenants, whereby the grantor of a property assures the grantee that he or she will not be subject to the claims of someone with a paramount title, thereby guaranteeing the status of the title that is being conveyed.


paramount title

paramount title (plural paramount titles)

paramount titles (plural)
title paramount (alternative)

(law, real estate) A claim to the title of a property, which is superior and stronger in comparison to all other claims.


real covenant

(law, real estate) A legal agreement or promise regarding a piece of real estate, which passes from one owner to another when the land is conveyed and which is said to run with the land.


personal covenant

personal covenant (plural personal covenants)

(countable, law, real estate) A legal agreement or promise regarding a piece of real estate, which binds the party who makes the covenant but which does not pass from one owner to another when the land is conveyed.


BPO

BPO (countable and uncountable, plural BPOs)

broker's price opinion
broker's price opinion#English

(real estate) Initialism of broker's price opinion.


widow foreclosure

widow foreclosure (plural widow foreclosures)

(real estate) Foreclosure on a reverse mortgage after the deedholder passes away, while the spouse resides on the property.


HOA

HOA (countable and uncountable, plural HOAs or HOA's)

homeowner association
homeowner association#English

(countable, real estate) Initialism of homeowner association.


homeowner association

homeowner association (plural homeowner associations)

homeowner associations (plural)
homeowner's association (alternative)
homeowners' association (alternative)
HOA (alternative)

(real estate) A private association formed by a real estate developer for the purpose of marketing, managing, and selling homes and lots in a residential subdivision.

kodinomistajien yhdistys

do not exist in Finland, but used when discussing other countries


PMC

(real estate) Initialism of property management company or corporation.


ghost home

The house is an example of what is popularly referred to as a "ghost home," a property owned by a nonresident (sometimes noncitizen) who has no plans on ever moving in.

2015 April 24, Joshua Alvarez, “Real Estate: Are ‘ghost homes’ becoming a problem?”, in Palo Alto Online, US, retrieved 2018-04-27:

So then we get to the deliberate ghost home investors. How do we tell that the empty flat has been purposely left unoccupied?

2017 May 13, Jimmy Thomson, "Ghost investment properties could be harder to exorcise than it seems," domain.com (Australia) (retrieved 27 April 2018)

The outcome of the new tax is being watched closely as cities around the world struggle with the rise of so-called ghost homes: scarcely used residences in prime urban locations seen by investors as a safe way to park their cash.

2018 April 26, Natalie Obiko Pearson, “Ghost-home tax fills Vancouver coffers but rentals remain scarce”, in Financial Post, Canada, retrieved 2018-04-27:

(idiomatic, real estate) A residence intentionally kept vacant by an absentee owner, especially a foreign investor, as a financially safe asset to be liquidated at a convenient time.


blockface

(real estate) The side of a block that faces a given street.


mixed-use

(real estate) Of an urban development: blending residential, commercial, cultural, institutional, or entertainment uses, where those functions are physically and functionally integrated, and have routes that connect them for pedestrians.


tenant at will

(law, real estate, property law) One who holds lands at the will of the owner.


white land

white land (countable and uncountable, plural white lands)

So called because it is not shaded on the map.

(real estate) Land not included in a plan for development, demolition, etc.


scavenger sale

The remaining lots were subsequently lost on scavenger sales because of some $140,000 in delinquent taxes.

1947, Reports of the Tax Court of the United States, volume 8, page 906:

(real estate) The sale of a property whose previous tenants were ejected for not paying rent.


predeveloper

(real estate) An agent who acquires land for the purpose of later development.


lease for lives

lease for lives (plural leases for lives)

leases for lives (plural)
lease of lives (alternative)

term of years determinable
term of years determinable

(law, England and Wales, historical) A kind of lease for a term of years determinable, popular in the 17th and 18th centuries, which typically named three individuals – the "lives" – and determined upon the death of all three.


iBuyer

So iBuyers - these are companies like Opendoor, Redfin and Zillow. And they started doing this a few years ago - buying homes.

2021 November 8, Stacey Vanek Smith, “iBuyers, Zillow, and 'the lemons problem'”, in The Indicator from Planet Money, via NPR:

(real estate) A company which offers to buy real estate (usually residential) quickly for cash, often without the level of due diligence exercised by traditional buyers and using computer algorithms to determine price.


exchange of contracts

exchange of contracts (plural exchanges of contracts)

exchanges of contracts (plural)
exchanging contracts (alternative)
exchanging of contracts (alternative)
exchange (alternative)

(law, England and Wales, Northern Ireland) The act of exchanging contracts.


exchanging contracts

exchange of contracts
exchange of contracts#English

Alternative form of exchange of contracts.


exchange contracts

en-verb

exchange contracts (third-person singular simple present exchanges contracts, present participle exchanging contracts, simple past and past participle exchanged contracts)

exchanges contracts (present singular third-person)
exchanging contracts (participle present)
exchanged contracts (participle past)
exchanged contracts (past)

legal representative
legal representative

(law, England and Wales, Northern Ireland, chiefly by legal practitioners) To create a contract for the disposition of an estate in land between negotiating parties, by a process which is immediately followed by the exchange of executed counterparts of the contract between each party's legal representative.


fee simple absolute in possession

en-noun

fee simple absolute in possession (uncountable)

From fee simple + absolute + in possession.

(law, England and Wales, formal, idiomatic) The unqualified and unrestricted ownership of an estate in land; freehold tenure.


term of years

(law, formal) An estate in land held under a lease which is not perpetual or indefinite in length, though in some cases may be contingent on some guaranteed occurrence.


effluxion of time

[...] we often fail to make sufficient allowance for the changes in standards brought about by the effluxion of time.

1944 March and April, Cecil J. Allen, “British Locomotive Practice and Performance”, in Railway Magazine, page 89:

(law, formal, idiomatic) The determination of a term of years due to the passage of time, rather than the occurrence of a specific event.


term of years absolute

term of years absolute (plural terms of years absolute)

(law, England and Wales, formal, misleading) An estate in land held for a term of years of either a specified length or on a periodic basis, and which is not a term of years determinable (though may be determinable for other reasons); a leasehold estate in land.


term of years determinable

term of years determinable (plural terms of years determinable)

(law, England and Wales, formal, historical) An estate in land held for a term of years which determined on the deaths of certain individuals, or the cessation of certain life interests.


head tenant

(UK, real estate, informal) Synonym of lead tenant.


lead tenant

(UK, real estate) The tenant nominated to be the primary point of contact for a managed residential joint tenancy.


nominated tenant

nominated tenant (plural nominated tenants)

(UK, real estate) Synonym of lead tenant.


closing costs

(finance, real estate) Fees which are paid at the conclusion or closing of a real estate transaction.


jeonse

chonse (alternative)
chŏnse (alternative)
cheonse (alternative)
jonse (alternative)
junse (alternative)

(real estate) A form of lease in the South Korean real estate market in which the lessee does not pay rent, but instead provides the landlord with a large lump sum deposit which is returned in full once the lease has determined, with the landlord profiting through investment of the deposit.


wolse

(real estate) A lease in the South Korean real estate market in which rent is paid monthly.


banjeonse

Borrowed from Korean 반전세(半傳貰) (banjeonse, literally “half-jeonse”).

bor+

(real estate) A form of lease in the South Korean real estate market which is a hybrid between jeonse and wolse, in which the lessee provides the landlord with a smaller lump sum deposit than would be required with jeonse, while agreeing to pay a lower rate of monthly rent than would be required with wolse.