Glossary




Real-estate agent/salesmanIn some states, a licensed person who...
real-estate brokerA person who has passed a state broke...
real-estate taxesLevies on land and buildings charged ...
real propertyLands and buildings and anything atta...
realtorNot everyone who sells real estate is...
RECDProvides housing loans in rural commu...
recreation leaseThe owner of those facilities is usua...
redliningAlleged practice of some lending inst...
refinancingTo pay off one loan by taking out ano...
Rehabilitationthe labor, materials, tools, and othe...
Renovationrehabilitation that involves costs of...
Rental AssistanceSubsidies that help fund the operatin...
Rent burdenedA federal government term used when l...
rent controlRegulation by a local government agen...
report of titleIt states the name of the owner, a le...
RESPARequires lenders to give borrowers ad...
RestartThis is a command that allows the use...
Revocation of Power of AttorneyA document under which a grantor take...
Revolving funda separate fund (with a set of accoun...
right of survivorshipStipulates that one gets rights and b...
riparian rightsThe rights of a landowner whose land ...
Rural areaAccording to the USDA, a rural area i...
Rural Housing Service (RHS)Within the USDA, housing program are ...

In some states, a licensed person who acts on behalf of the buyer and is paid a commission by the seller.

A person who has passed a state broker's test: Anyone having his or her own office must be a broker.

Levies on land and buildings charged to owners by local government agencies.

Lands and buildings and anything attached to them.

Not everyone who sells real estate is a Realtor. The word is a registered trademark and is capitalized.

Provides housing loans in rural communities, formerly known as Home Administration

The owner of those facilities is usually the developer, and there is often a charge for that use. It is preferably that the condo owns its recreational facilities.

Alleged practice of some lending institutions involving their refusal to make loans on properties they deem to be bad risks.

To pay off one loan by taking out another on the same property.

the labor, materials, tools, and other costs of improving buildings, other than minor or routine repairs. The term includes where the use of a building is changed to an emergency shelter and the cost of this change and any rehabilitation costs does not exceed 75 percent of the value of the building before the change in use.

rehabilitation that involves costs of 75 percent or less of the value of the building before rehabilitation.

Subsidies that help fund the operating costs of housing

A federal government term used when low-income households pay between 30-50% of their income toward housing costs

Regulation by a local government agency of rental charges, usually set formulas for increase.

It states the name of the owner, a legal description of the property, and the status of taxes.

Requires lenders to give borrowers advance notice of closing costs.

This is a command that allows the user to shut down the computer very briefly and then restart. This is usually done when adding new software.

A document under which a grantor takes away (revokes) the authority and power of the agent to act on behalf of the grantor.

a separate fund (with a set of accounts that are independent of other program accounts) established for the purpose of carrying out specific activities which, in turn, generate payments to the fund for use in carrying out the same activities. Each revolving loan fund's cash balance must be held in an interest-bearing account, and any interest paid on CDBG funds held in this account shall be considered interest earned on grant advances and must be remitted to HUD for transmittal to the U.S. Treasury no less frequently than annually. (Interest paid by borrowers on eligible loans made from the revolving loan fund shall be program income and treated accordingly.)

Stipulates that one gets rights and becomes sole owner of the property on the death of the other.

The rights of a landowner whose land borders water to use a portion of the water and to enjoy other benefits of the watercourse.

According to the USDA, a rural area is: situated in open country that is not part of or associated with an urban area; or a town, village, city, or place, including the immediately adjacent densely settled area, that meets one of the following descriptions: a population of 2,500 or less and not part of or associated with an urban area, a population of 10,000 or less if it is rural in character, a population of 20,000 or less, located outside a HUD established Metropolitan Statistical Area (MSA), and having a serious lack of mortgage credit for low- and moderate-income households

Within the USDA, housing program are administered by the RHS, whose goal is to increase the amount and the quality of housing in rural areas of the country by promoting and financing homeownership, housing rehabilitation, rental assistance to tenants of multi-family housing, housing for farm laborers, multi-family housing and community facilities