Blueprint Real Estate Services, Inc. Destin Florida

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Real Estate Terms

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 ABSTRACT OF TITLE
  The condensed history of a title to a particular parcel of real estate, consisting of a summary of the original grant and all subsequent conveyances and encumbrances affecting the property and a certification by the abstractor that the history is complete and accurate.
   
 ACCELERATION CLAUSE
  The clause in a mortgage or deed of trust that can be enforced to make the entire debt due immediately if the borrower defaults on an installment payment or other covenant.
   
 ACCESSION
  Acquiring title to additions or improvements to real property as a result of the annexation of fixtures or the accretion of alluvial deposits along the banks of streams.
   
 ACCRETION
  The increase or addition of land by the deposit of sand or soil washed up naturally from a river, lake or sea.
   
 ACCRUED ITEMS
  On a closing statement, items of expense that are incurred but not yet payable, such as interest on a mortgage loan or taxes on real property.
   
 ACKNOWLEDGEMENT
  A formal declaration made before a duly authorized officer, usually a notary public, by a person who has signed a document.
   
 ACRE
  A measure of land equal to 43,560 square feet, 4,840 square yards, 4,047 square meters, 160 square rods or 0.4047 hectares.
   
 ACTUAL EVICTION
  The legal process that results in the tenant's being physically removed from the leased premises.
   
 ACTUAL NOTICE
  Express information or fact; that which is known; direct knowledge.
   
 AD VALOREM TAX
  A tax levied according to value, generally used to refer to real estate tax. Also called the general tax.
   
 

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