Condominium – By David Reecher It is a type of ownership in real property where all of the owners own the property, common areas and buildings together, with the exception of the interior of the uni... Read More

Absolute Title

Absolute Title – David Reecher Title to a property that is free of any encumbrances or deficiencies. Absolute title gives unequivocal right of ownership to the owner, and cannot be disputed or chall... Read More

Abstract of Title

Abstract of Title – David Reecher A brief history of the titles for a piece of land. The abstract of title lists all of the legal actions that have been performed or used in conjunction with a piece... Read More

Adjustment Frequency

Adjustment Frequency – David Reecher The frequency at which interest rate changes or resets on an adjustable-rate mortgage occur. Different adjustable-rate mortgages have different adjustment freque... Read More

Absolute Auction

Absolute Auction – David Reecher A type of auction where the sale is awarded to the highest bidder. Absolute auctions do not have a reserve price which sets a minimum required bid for the item to be... Read More

Zero Lot Lines

Zero Lot Lines – David Reecher When a building is positioned so that it rests either directly on the lot’s boundary line, or so close to the boundary line that there is minimal yard or space ... Read More

Wrap-Around Mortgage

Wrap-Around Mortgage – David Reecher A mortgage to the new buyer which includes the seller’s existing first mortgage payment, plus an additional amount that will be proceeds to the seller. Da... Read More

VA Mortgage

VA Mortgage – David Reecher Typically a 100% loan made to veterans.  They must qualify by providing proof of eligibility.  When selling a house originally purchased through VA eligibility,... Read More