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Glossary of terms used on this site

There are 202 entries in this glossary.
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Term Definition

Market value or present worth. To have value, a property must have utility, scarcity, effective demand, and transferability.

Variable rate mortgage

See adjustable rate mortgage.


A permit granted as an exception to a zoning ordinance that allows a property owner to meet certain specified needs.

Warranty deed

A deed in which the grantor guarantees that he or she is giving the grantee good title free of encumbrances. Considered to be the best deed a grantee can receive.


Depreciation or amortization an owner takes on a commercial property.


What an investment or property will return; the profit or income.


Procedure that classifies real property for a number of different uses: residential, commercial, industrial, etc. in accordance with a land-use plan.

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