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Majority |
The age at which an individual is legally
entitled to handle his or her own affairs |
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Margin |
The amount added to the index on an
adjustable-rate mortgage (ARM) that establishes the adjusted interest rate at a
given time |
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Market value, or Fair market
value |
The most likely price that a piece of property
or home can realistically be sold for, and is dependent on the selling price of
similar real estate in the area |
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Marketable title |
A clear, unencumbered title, reasonably
acceptable without the threat of the risk of litigation |
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Maturity |
The date on which the principal balance of a
loan, bond, or other financial commitment is due and payable |
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Mechanic's lien |
A lien created by statute to allow unpaid
contractors, laborers or suppliers who have performed work on or furnished
materials for the construction of a building to recover the value of their
work |
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Metes and Bounds |
Means for describing property by a set of
directions and distances, when there isn't identification based on a surveyed
lot number |
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Minor |
An individual below the age at which he or she
is legally entitled to handle his or her own affairs |
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Monument of Survey |
le indications made on natural or man-made
objects that indicate the boundaries of a survey |
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Mortgage |
A legal document that pledges a property to the
lender as security for the payment of a loan or debt |
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Mortgage broker |
An individual or company that acts as an agent
between borrowers and lenders for the purpose of arranging and negotiating
mortgage contracts; who is paid a fee for such service |
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Mortgage insurance |
A contract that guarantees the lender against
loss caused by a mortgagor's default on a government or conventional mortgage;
such insurance can be issued by a private company or by a government agency,
and covers either only a percentage, or the total, of the mortgage
loan |
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Mortgagee |
The lender in a mortgage
transaction |
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Mortgagor |
The borrower in a mortgage
transaction |
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Multiple-listing service
(MLS) |
An organization of brokers who share their
listing agreements with one another in order to find buyers for their
properties more effectively than they could individually |
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Did I Miss the Word YOU Are Looking For? Is there a real estate word that I failed to explain here in my dictionary for homebuyers and sellers? Let me know and I will be happy to assist you. I'll send a brief explanation of any word or term that you encounter when buying and selling property. Do you have a suggestion of a real estate word that should be included? Let me know! I always appreciate feedback.  Didn't Find the Real Estate Term you were lookin for? Let me know! I'm happy to answer ANY questions. Fill in the form below and pose your question, I will be happy to assist you and if it involves an area, town, or subidivision, please make reference to that area in the "Additional Info" box, no matter where it is in: East Baton Rouge Parish, including Baton Rouge, Zachary, Baker, Greenwell Springs, and Central West Baton Rouge Parish, including Brusly, Port Allen, Erwinville and Addis Ascension Parish, including Prairieville, Dutchtown, or Geismer Livingston Parish, including Denham Springs Iberville Parish, including Plaquemine Pointe Coupee, including New Roads and False River East and West Feleciana, including St. Francisville and Clinton There's no obligation, and I promise to get back to you quickly... |
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- NUMBER1EXPERT™ 
