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Real Estate Terms Glossary
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Random Real Estate License Terms
Easement In Gross
 
An easement that benefits a particular individual not a parcel of property. Involves only a servient estate. A public utility easement is an example.
   
First Trust Deed
 
A document pledging collateral for a loan (See trust deed") that has first priority over all other claims against the property except taxes and bonded indebtedness. The trust deed superior to all others."
   
Discount Points
 
The amount of money the borrower or seller must pay the lender to get a mortgage at a stated interest rate. The amount is equal to the difference between the principal balance on the note and the lesser amount which a purchaser of the note would pay the original lender for it under market conditions. A point equals one percent of the loan.
   

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