REB-FC19

Insurance that covers losses to real estate from damages that might affect its value.

• Hazard insurance

• Property insurance

• Liability insurance

• Homeowners insurance

The loss of money or anything of value, due to failure to perform, such as under an agreement to purchase.

• Forfeiture

• Compensation

• Reimbursement

• Indemnity

The succession of conveyances from some accepted starting point by which the present holder of real property derives his or her title.

• Chain of title

• Title deed

• Property transfer

• Real estate succession

The statement of opinion on the status of the title to a parcel of real property, based on an examination of specified public records.

• Certificate of title

• Title deed

• Property appraisal

• Land survey

Personal property that has become part of the property through permanent attachment.

• Fixture

• Furnace

• Appliance

• Accessory

The ownership of real estate by two or more parties who have been named in one conveyance as joint tenants.

• Joint tenancy

• Tenancy in common

• Sole ownership

• Leasehold estate

The joining of two or more people to conduct a specific business enterprise.

• Partnership

• Joint venture

• Sole proprietorship

• Corporation

A provision that may be included in notes, leases, and contracts by which the debtor, lessee, or obligor authorizes any attorney to go into court to confess a judgment against him or her for a default in payment.

• Judgment clause

• Arbitration clause

• Indemnity clause

• Confession of judgment clause

A predetermined amount of compensation received or paid for a specific service in a real estate transaction.

• Flat fee

• Commission

• Hourly rate

• Retainer fee

Personal property.

• Chattels

• Real estate

• Intangible assets

• Public property