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Lessor
A lessor is someone that rents property through a lease, the so called landlord.
Affidavit
An affidavit is a written declaration under oath.
Balloon payment
A ballon payment is a final payment which is usually higher than the preceeding ones.
Audit
An audit is the examination of real estate transaction records in order to verify accuracy.
Abstract
An abstract contains the history of ownership of a certain property.
Constructive notice
A constructive notice is also called a legal notice and presumes that everybody has knowledge of a recorded instrument.
Common expense
In a condominium, common expenses are the expenses of operation, set by the bylaws.
Locus
Locus means a particular parcel of land.
Cash value
Cash value refers to the amount of money a piece of property will bring shortly after brought to the open market.
Alluvion
A kind of accretion on riparian land by action of water which deposits sediment.
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