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Real Estate Terms - S

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Sale-Leaseback

A sale and subsequent lease of the same property from the buyer back to the seller.

 

Fri Dec 21 2007

Savings and Loan Association

An institution that retains deposits for savers and lends out these deposits primarily for home loan.

 

Fri Dec 21 2007

Secondary Financing

A junior loan or a loan second priority to a first mortgage or trust deed.

 

Fri Dec 21 2007

Security Deposit

Money given to a landlord by the tenant to secure performance of the rental agreement.

 

Fri Dec 21 2007

Sellers's Market

A time when there are more buyers than sellers.

 

Fri Dec 21 2007

Separate Property

Property owned by husband or wife that is not community property. Property acquired before marriage or by a gift, will, or inheritance.

 

Fri Dec 21 2007

Severalty

An estate held by one person alone, an individual right. The term is misleading, as it does not mean several persons own the property. Distinguished from joint tenancy

 

Fri Dec 21 2007

Shared Appreciation Mortgage (SAM)

A mortgage that allows the lender to share in the appreciation of the property in return for a lower rate of interest.

 

Fri Dec 21 2007

Sheriff's Deed

Deed given by court order in connection with the sale of a property to satisfy a judgment.

 

Fri Dec 21 2007

Single-Family Residence

A house as distinguished from an apartment house, a condominium, or a planned unit development.

 

Fri Dec 21 2007


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