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Real Estate Terms - B

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Balance Sheet

A financial statement that shows the condition of a business or individual as of a particular date. Discloses assets, liabilities, and net worth.

 

Fri Dec 21 2007

Balloon Payment

The final installment paid at the end of the term of a note; used only when preceding installments were not sufficient to pay off the note in full.

 

Fri Dec 21 2007

Bankruptcy

Procedure of federal law to seize the property of a debtor and divide the proceeds among the creditors.

 

Fri Dec 21 2007

Base and Meridian

Imaginary lines used by surveyors to find and describe the location of public or private lands.

 

Fri Dec 21 2007

Benchmark

A mark used by surveyors that is permanently fixed in the ground to denote the height of that point in relation to sea level.

 

Fri Dec 21 2007

Beneficiary

The lender involved in a note and trust deed. One entitled to the benefit of a trust.

 

Fri Dec 21 2007

Bill Of Sale

An instrument used to transfer personal property.

 

Fri Dec 21 2007

Blanket Mortgage (trust deed)

A single mortgage (or trust deed) that covers more than one piece of real estate.

 

Fri Dec 21 2007

Blighted Area

A declining area where property values are affected by destructive economic or natural forces.

 

Fri Dec 21 2007

Blockbusting

A method of informing a community of the fact that people of a different race or religion are moving into the neighborhood; this often causes property values to drop, thereby enabling homes to be obtained at below market value. Consequently, this practice is illegal.

 

Fri Dec 21 2007


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