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There are 20 entries in the definition.
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Term Definition
RangeA part of the government survey, being a strip of land six miles in width, and numbered east or west of the principal meridian.
 
Real EstateAlso called "real property." (1) Land and anything permanently affixed to the land, such as building, fences and those things attached to the buildings, such as light fixtures, plumbing and heating fixtures, or other such items that would be personal property if not attached. (2) May refer to rights in real property as well as the property itself.
 
Real Estate BrokerA middle man or agent who buys and sells real estate for a company, firm or individual on a commission basis. The broker does not have title to the property, but generally represents the owner.
 
Realtor®A federally registered collective membership mark which identifies a real estate professional who is a member of the National Association of Realtors® and subscribes to its strict Code of Ethics.
 
RealtyA brief term for real estate.
 
ReconveyanceAn instrument used to transfer title from a trustee to the equitable owner of real estate, when title is held as collateral security for a debt. Most commonly used upon payment in full of a trust deed. Also called a deed of reconveyance or release.
 
RecordingFiling documents affecting real property as a matter of public record, giving notice to future purchasers, creditors, or other interested parties. Recording is controlled by statute and usually requires the witnessing and notarizing of an instrument to be recorded.
 
RedeemLiterally "to buy back." The act of buying back lands after a mortgage foreclosure, tax foreclosure, or other execution sale.
 
RefinancingThe process of the same mortgagor paying off one loan with the proceeds from another loan.
 
ReinsuranceA contract which one insurer makes with another to protect the first insurer, wholly or partially, against loss or liability by reason of a risk under a separate and distinct contract as insurer of a third party. Reinsurance differs from coinsurance in that, in the case of reinsurance, only one insurer has a direct contractual relationship with the insured, and that insurer (commonly referred to as the "lead insurer") purchases reinsurance in order to lessen or spread the risk. The "lead insurer" will assume a risk up to a limit (the amount of which is referred to as the "retention") and any loss which exceeds this limit would be borne by the reinsurers. In the case of coinsurance, each coinsurer has a direct contractual relationship with the insured, and the risk is shared in agreed-upon proportions from the first dollar of loss.
 
REITReal Estate Investment Trust. A business trust or corporation formed under federal and state statues for the purpose of investing in real estate.
 
Release(1) To relieve from debt or security or abandon a right, such as the release of a mortgage lien from a part or all of the land mortgaged. (2) The instrument effecting a release.
 
REMICReal Estate Mortgage Investment Conduit. A product of 1986 federal tax legislation in which a business entity such as a corporation, partnership, or trust in which substantially all of the assets consist of qualified mortgages and permitted investments, elects to be treated as a REMIC. Qualification avoids treatment as a corporation for tax purposes.
 
REOReal Estate Owned.  Property which is in the possession of a lender as a result of foreclosure or forfeiture.
 
Request NoticeA request by someone, usually a subsequent or second Deed of Trust and note holder to be notified of any sale or foreclosure on property to allow them to take action to collect their lien.
 
RestrictionsOften called restrictive covenants. Provisions in a deed or other instrument whereby an owner of land prohibits or restricts certain use, occupation or improvement of the land.
 
Reverse Annuity MortgageSee Reverse Mortgage.
 
Reverse MortgageA mortgage for which the borrower pledges home equity in return for regular (monthly) payments, rather than a lump sum distribution of loan proceeds. Repayment is usually not required until the home is sold or the borrower's estate is settled, provided the borrower continues to live in the home and keeps current all taxes and insurance.
 
Right of Way

(1) The right to pass over property owned by another, usually based upon an easement.

(2) A path or thoroughfare over which passage is made.

(3) A strip of land over which facilities such as highways, railroads or power lines are built.

 
Riparian RightsThe rights of owners of lands bordering watercourses which relate to the water and its use.
 


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