A novation is new agreement that replaces an existing agreement. In real estate, novation is often used to modify the terms of a...

Net operating income (NOI) is the income a property generates after deducting operating expenses such as property taxes, insurance, and...

A net lease is a type of rental agreement in which the tenant is responsible for paying some or all of the property taxes, insurance, and...

Market value is the estimated price at which a property would sell in a competitive, open market after a reasonable amount of time of...

A mixed-use development includes residential, commercial, and office space uses all within one building or development. By co-locating...

A mansard roof has a double slope, frequently used on Victorian-era homes or modern homes trying to replicate the look. This style can...

Marketable title is title to a property that is free and clear of any liens, encumbrances or rights of others except those the buyer is...

A mechanics lien or sometimes called a contractor's lien is a lien that a contractor or other worker can place on a property to ensure...

A maintenance fee is a monthly, quarterly or annual fee paid by the owner of a condominium or other type of common-interest development...

A land contract, also called a contract for deed, is a type of financing agreement in which the seller of a property agrees to sell the...

A land grant is a transfer of land from the government to an individual or organization. Want to learn more about Real Estate? Please...

Land use regulations are public and private controls that govern the use of land. Would you like to learn more about Real Estate? Please...

Land use regulations are public and private controls that govern the use of land. Would you like to learn more about Real Estate? Please...

Land is defined as the surface of the earth stretching both downward to the center of the earth and upward infinitely into space,...

Knob-and-tube (K&T) wiring is an older type of electrical wiring that uses ceramic knobs and tubes to insulate the wires that was in...

A junior mortgage that is one that is second or lower in priority to another mortgage on the same property. Would you like to learn more...

A Jalousie Window is a type of window that is made up of louvers that can be opened and closed to control ventilation and light....

A Jumbo Mortgage, also called a non-conforming mortgage, is a mortgage that is larger than the conforming loan limits set by Fannie Mae...

A judgment is a court order that requires a person to pay a debt or take a certain action. In regards to a property owner, a judgment can...

Joint tenancy is a type of property ownership in which two or more people own the property jointly and have equal rights of possession...