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As with any industry, there are real estate definitions (homestead, quit-claim) and a set of acronyms (DOM, CMA) that might seem a bit Real Estate Definitions Every Seller Should Know Skip to main ...
The primary grid pattern is of quarter sections (1⁄2 mi × 1⁄2 mi (800 m × 800 m)). In U.S. land surveying under the Public Land Survey System (PLSS), a section is an area nominally one square mile (2.6 square kilometers), containing 640 acres (260 hectares), with 36 sections making up one survey township on a rectangular grid. [1]
Multiple listing service. A multiple listing service (MLS, also multiple listing system or multiple listings service) is an organization with a suite of services that real estate brokers use to establish contractual offers of cooperation and compensation (among brokers) and accumulate and disseminate information to enable appraisals.
A disaster inspector at work in the United States assessing tornado damage to a house. A home inspection is a limited, non-invasive examination of the condition of a home, often in connection with the sale of that home. Home inspections are usually conducted by a home inspector who has the training and certifications to perform such inspections.
August 5, 2024 at 4:10 AM. With 36.6% more homes actively for sale than this time last year, July marked the ninth consecutive month of housing inventory growth across the nation. Still, the ...
Lis pendens. In United States law, a lis pendens (Latin for 'suit pending' [1] ) is a written notice that a lawsuit has been filed concerning real estate, involving either the title to the property or a claimed ownership interest in it. The notice is usually filed in the county land records office. Recording a lis pendens against a piece of ...
A fixture, [1] as a legal concept, means any physical property that is permanently attached (fixed) to real property (usually land). Property not affixed to real property is considered chattel property. Fixtures are treated as a part of real property, particularly in the case of a security interest. A classic example of a fixture is a building ...
Metes and bounds. Metes and bounds is a system or method of describing land, real property (in contrast to personal property) or real estate. [1] The system has been used in England for many centuries and is still used there in the definition of general boundaries. The system is also used in the Canadian province of Ontario, [2] and throughout ...