A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Real Estate
Land and any improvements permanently affixed to the land, including structures.

Real Estate Broker
An individual licensed by the state to assist Buyers and Sellers in the purchase and sale of real estate.  Does not have to be a member of any national, state, or local trade association, such as The National Association of Realtors.

Real Estate Tax
A pecuniary charge laid upon real property for public purposes.

REALTOR
Registered name for a member of the NATIONAL ASSOCIATION OF REALTORS. (See " National Association of Realtors" in this Glossary)

REALTOR ASSOCIATE
Salesperson associated with a broker who is a member of a the NATIONAL ASSOCIATION OF REALTORS.

Realty
A synonym for real estate.

Recital
Setting forth in a deed or other writing some explanation for the transaction. Typically recites how the current owner (Grantor) acquired title to the property.

Recourse
The right of the holder of a note secured by a mortgage or deed of trust to look personally to the borrower or endorser for payment.

Redlining
The practice of refusing to provide loans or insurance in a certain neighborhood.

Refinancing
The repayment of a debt from the proceeds of a new loan using the same property as security.

Reissue rate
A charge for a title insurance policy if a previous policy on the same property was issued within a specified period of time. Reissue is less than the original charge.

REIT (Real Estate Investment Trusts)
A method in investing in real estate in a group, with certain tax advantages.

Recision of Contract
Annulling a contract and placing the parties to it in a position as if there had not been a contract.

Release
An instrument releasing property from the lien of the mortgage or judgment or releasing a mortgagor or obligor from personal liability to repay a loan.

RESPA (Real Estate Settlement Procedures Act)
A federal regulation that requires lenders and mortgage brokers to disclose to borrowers, in advance, the fees required to obtain a mortgage loan.

Restrictive Covenants
Private restrictions limiting the use of real property. Restrictive covenants are created by deed or by a separate document recorded in the courthouse, and may "run with the land," binding all subsequent purchasers of the land, or may be "personal" and be binding only between the original seller and buyer.

Revenue Documentary Stamps
Formerly, federal tax on a sale of real property. Canceled and replaced by state tax stamps.

Reverse Mortgage
A special program for the elderly that provides income until death. Payment requirements are arranged through the increase in the principal amount of the loan.

Riparian
Pertaining to the banks of a river, stream, waterway, etc.

Riparian Rights

Pertains to the rights of a land owner in water flowing over or through their land.