Home Ownership

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Terms in Home Ownership

Abstract Of Title

Abstract of Title is the summarized historical legal record of a piece of property.  read more

Adverse Possession

Adverse possession is a principle of real estate law that allows a person who possesses someone else's land for an extended period of time to claim legal title to that land.  read more

Affidavit Of Title

An affidavit of title is a document provided by the seller of a piece of property showing the status of the property, including ownership and legal issues. read more


Amenities are characteristics of a residential or commercial property that are considered beneficial by potential buyers or tenants. read more

Appraised Value

An appraised value is a professional assessment of the condition and worth of a piece of property at a specific point in time. read more


An appraiser is a professional with the knowledge and expertise necessary to estimate the value of an asset. read more


An assignor is a person or entity who transfers rights they hold to another entity as part of a property sale or to grant them control of an asset. read more

Automated Valuation Model (AVM)

Automated Valuation Model (AVM) is a real estate appraisal approach that uses statistical modeling techniques and software to value properties. read more

Best and Final Offer

A best and final offer is a prospective homebuyer's last and highest offer, submitted in a bidding war for a property. read more


A bungalow is a small house, cottage or cabin that was originally designed to provide affordable, modern housing for the working class. read more

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