Warranty Deed: Full title guarantees
General Warranty Deed: Guarantees entire ownership history
Special Warranty Deed: Only guarantees seller’s ownership
Limited Warranty Deed: Restricted or Very limited title warranty
Quit Claim Deed: Transfers property without title warranty
Tax Deed: Transfers property due to tax foreclosure for unpaid taxes
Deed of Trust/Trust Deed: Security instrument for property loans
Transfer on Death Deed: Property transfer upon death without probate
Assignment of Mortgage: Transfers mortgage ownership
Deed in Lieu: Voluntary transfer of property to avoid foreclosure
Marketable Chain of Title: Clear and unbroken history of property ownership
Release of Interest: Removal of claim or stake in property
Husband and Wife: Joint spousal ownership
Joint Tenancy: Co-ownership with survivorship rights
Tenancy in Common: Co-ownership without survivorship rights
Joint Tenants with Right of Survivorship
To Be Determined: Information placeholder
Exclusive Right to Convey: Broker has sole right to sell property
Tenant in Default Under Statute: Lease breach, leads to eviction
Unless Otherwise Specified: Applies Unless stated differently in the agreement
Power of Attorney: Authorization for someone to act for another
Now Known As: Indicates name change
Formerly Known As: Previous name
Also Known As: Alternate name
Limited Power of Entry: Restricted property access right
Right of Way: Legal right to pass through property owned by another
Memorandum of Mortgage: Document summarizing mortgage details
Right of Rescission: Cancellation right period
Right of First Refusal: Priority purchase right
Simultaneous Link Connected transactions (multiple transactions)
Assessor's Parcel Number: Property tax identifier (Western and Southern U.S. states)
Tax Identification Number: For individual/business tax reporting
Property Identification Number or Parcel Identification Number: Same as APN (Midwest and Northern U.S. states)
Vacant Land: Undeveloped property with no structures
Per Plat: Reference to subdivision map
Tax Lot: Tax assessment designation
Acres: Land measurement
Square Feet: Area measurement
Page/Book: Exact location of a document
North, South, East, West - directional indicators
Northeast, Northwest, Southeast, Southwest - directional indicators
Court, Lane -Street designations
Point of Beginning: Starting point in description
Federal National Mortgage Association (Fannie Mae)
Federal Home Loan Mortgage Corporation (Freddie Mac)
Mortgage Electronic Registration Systems: Tracks mortgage ownership
Office of the Comptroller of the Currency: Regulates national bank mortgage lending
Claims without Conveyance of Title: FHA foreclosure alternative
Housing and Urban Development: Federal housing agency
Federal Housing Administration: Insures loans for homebuyers
Veterans Affairs: Home loan benefits for veterans
Mortgage Insurance Premium
Note and Loan Package: Complete loan documents
Funding Condition Documents: Required for loan funding
Purchase Money Mortgage: Seller financing arrangement
Final Certificate: Completion of foreclosure
First Title Insurance Commitment: Initial title report
Mortgage Loan Commitment: Formal loan approval
Notice of Trustee's Sale: Foreclosure auction announcement
Adjustable-Rate Mortgage: Loan with variable interest rate
Home Mortgage Disclosure Act
Home Equity Line of Credit: Revolving credit line secured by property
Planned Unit Development; type of housing development
Document Stamp: Tax paid on document recording
Documentary Transfer Tax: Tax on property transfers
Tax Sale: Property auction for tax delinquency
Department of Assessment and Registration & Taxation
Bankruptcy: Legal process for debt relief.
Georgia property transfer tax form
NY property transfer report form
IRS real estate sale reporting form
Sales Disclosure Form - reporting property sale information for tax purposes
Official Public Records: County records system
Official Record Book: Record designation
Official Records: County record system
Instrument: Recorded document
Docket: Court calendar or record book
Social Security Number: Personal identification
Limited Liability Company
Limited Partnership/General Partnership
Doing Business As: Trade name
Entity Tax Number: Business tax ID
Bank of America: Common lender reference
National Loan Service: Mortgage servicer
Select Portfolio Servicing: Mortgage servicer
Notice of Default- first formal notice of foreclosure process
Notice of Sale- announces public auction of foreclosed property
Broker Price Opinion- valuation used in foreclosure process
Real Estate Owned- property owned by lender after unsuccessful foreclosure auction
Right of Redemption: Borrower's right to reclaim foreclosed property by paying debt
Closing Disclosure- replaced HUD-1, details final loan terms and closing costs
Housing and Urban Development Settlement Statement
Annual Percentage Rate- total yearly cost of loan expressed as percentage
Truth in Lending- disclosure of credit terms
Loan Estimate- estimate of loan terms and closing costs
Paid Outside of Closing- costs not included in settlement
Title Insurance; protection against title defects
Remote Online Notarization; electronic notarization process
Cloud on Title/Encumbrance; claim against property affecting marketability
Ownership and Encumbrance report; summary of property ownership and liens
Internal Revenue Code; federal tax laws
Section 1031 Exchange; tax-deferred exchange of like-kind properties
Foreign Investment in Real Property Tax Act; withholding on foreign sellers
Property Assessed Age; for property tax purposes
Transfer and Documentary Tax; tax on property transfers
Uniform Commercial Code; governs commercial transactions
Homeowners Association; organization managing common-interest communities
Covenants, Conditions & Restrictions; rules governing property in developments