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Real Estate Terms Glossary
Click the letter corresponding to the first letter of the word you wish to look up.
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Real Estate Terms Beggining with the Letter r
Radiant Heating
 
A method of heating usually consisting of coils or pipes placed in the floor wall or ceiling.
   
Rafter
 
One of a series of boards of a roof designed to support roof loads.
   
Range
 
A strip of land six miles wide determined by a government survey running in a north-south direction.
   
Ratification
 
The adoption or approval of an act performed on behalf of a person without previous authorization. Approval and confirmation of a prior act performed on one's behalf by another person without previous authority.
   
Ready Willing and Able Buyer
 
A purchaser of property who is willing to buy on terms acceptable to the seller and who further possesses the financial ability to consummate the sale. Producing such a buyer sometimes earns the broker a commission even though a sale is not forthcoming.
   
Real Estate Board
 
An organization whose members consist primarily of real estate brokers and salespersons.
   
Real Estate Investment Trust
 
A specialized form of holding title to property that enables investors to pool their resources and purchase property while still receiving considerable tax advantages without being taxed as a corporation. Also known as REIT.
   
Real Estate Trust
 
A special arrangement under federal and state law whereby investors may pool funds for investments in real estate and mortgages and yet escape corporation taxes.
   
Real Property
 
In the strict sense land appurtenances that which is affixed to the land and that which by law is immovable. It usually refers to the bundle of rights" inherent to ownership."
   
Realtor
 
A real estate broker holding active membership in a real estate board affiliated with the National Association of Realtors.
   
Rebuttable Presumption
 
A presumption that is not conclusive and that may be contradicted by evidence. A presumption that applies unless proven inapplicable by the introduction of contradictory evidence.
   
Recapture
 
(1) The rate of interest necessary to provide for the return of an investment. (2) A provision in tax laws that reduces certain benefits from claiming depreciation.
   
Receiver
 
A neutral third party appointed by the court to collect the rents and profits from property and distribute them as ordered by the court. Often used as a remedy when mere damages are inadequate.
   
Reconveyance
 
A conveyance to the landowner of the legal title held by a trustee under a deed of trust. The transfer of property back from a lender who holds an interest as security for the payment of a debt. In a deed of trust the beneficiary reconveys property upon satisfaction of the promissory note.
   
Recordation
 
Filing of instruments for record in the office of the county recorder. The act of having a document filed for record in the county recorder's office. Once recorded the instrument gives constructive notice to the world.
   
Redemption
 
Buying back one's property after a judicial sale. The repurchasing of one's property after a judicial sale.
   
Reformation
 
A legal action to correct a mistake in a deed or other document.
   
Reinstatement
 
A right available to anyone under an accelerated promissory note secured by a deed of trust or mortgage on property. If a deed of trust is foreclosed by trustee's sale the debtor may have up to three months from the recording of the notice of default to pay the amount in arrears plus interest and costs thereby completely curing the default (reinstating) without penalty.
   
Rejection
 
Refusal to accept an offer. Repudiation of an offer automatically terminates the offer.
   
Release
 
To give up or abandon a right. The release of rights may be voluntary as when one voluntarily discharges an obligation under a contract. The release may be involuntary by operation of the law; for example one's wrongful conduct may bar him from asserting his rights. In deeds of trust a partial release clause frees certain property from the security of the deed of trust upon the payment of specified sums of money.
   
Release Clause
 
A stipulation in a deed of trust or mortgage that upon the payment of a specific sum of money to the holder of the deed of trust or mortgage a particular lot or area shall be removed from the blanket lien on the whole area involved.
   
Reliction
 
The gradual lowering of water from the usual watermark.
   
Remainder
 
An estate that vests after the termination of the prior estate such as after a life estate. Example: A life estate may be granted to Adams with the remainder granted to Baker. Most commonly an estate (future interest) that arises in favor of a third person after a life estate.
   
Remand
 
To send back to a lower court for further action.
   
Remedy
 
The means by which a right is enforced preserved or compensated. Some of the more common remedies are damages injunctions rescission and specific performance.
   
Rent
 
The consideration paid by a tenant for possession of property under a lease.
   
Rescission
 
The unmaking of a contract and the restoring of each party to the same position each held before the contract arose.
   
Rescission of Contract
 
The cancelling of a contract by either mutual consent of the parties or legal action.
   
Reservation
 
A right or interest retained by a grantor when conveying property; also called an exception.
   
Residue
 
That portion of a person's estate that has not been specifically devised.
   
Respondeat Superior
 
This Latin phrase let the master answer means that an employer is liable for the tortious acts of an employee and a principal is liable for the acts of an agent. To be liable the acts must be within the course and scope" of the agency or employment. For example an employer would not be liable for the acts of an employee while at home and not doing work for the employer."
   
Respondent
 
The person against whom an appeal is taken; the opposite of an appellant.
   
Restriction
 
A limitation on the use of real property arising from a contract or a recorded instrument. An encumbrance on property that limits the use of it; usually a covenant or condition.
   
Retaliatory Eviction
 
A landlord's attempt to evict a tenant from a lease because the tenant has used the remedies available under the warranty of habitability.
   
Reversion
 
The right a grantor keeps when he or she grants someone an estate that will or may end in the future. Examples: The interest remaining with a landlord after he or she grants a lease or the interest an owner of land has after he or she grants someone a life estate. Any future interest (estate) left in the grantor. The residue of an estate left in the grantor after the termination of a lesser estate.
   
Revocation
 
Withdrawal of an offer or other right thereby voiding and destroying that offer or right. It is a recall with intent to rescind.
   
Ridge
 
The horizontal line at the junction of the top edges of two sloping roof surfaces. (The rafters at both slopes are nailed at the ridge.)
   
Ridge Board
 
The board placed on edge at the ridge of the roof to support the upper ends of the rafters; also called roof tree ridge piece ridge plate or ridgepole.
   
Right of Survivorship
 
The right to acquire the interest of a deceased joint-owner. It is the distinguishing feature of a joint tenancy.
   
Right of Way
 
The right to pass over a piece of real property or to have pipes electrical lines or the like go across it. An easement granting a person the right to pass across another's property.
   
Riparian Rights
 
The right of a landowner with regard to a stream crossing or adjoining his or her property.
   
Riser
 
(1) The upright board at the back of each step of a stairway. (2) In heating a riser is a duct slanted upward to carry hot air from the furnace to the room above.
   
Rule Against Perpetuities
 
A complex set of laws designed to prevent excessive restrictions on the transferability of property. The rule holds that no interest is good unless it must vest if at all not later than 21 years after some life in being at the creation of the interest."
   

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