Real Estate Glossary
This glossary was created by a team of real estate professionals. It contains terms regarding real estate buying and selling, home finance, home improvement, as well as legal terms. For your convenience, the glossary is searchable alphabetically.
The intentional or voluntary relinquishment of a known claim or right.
(1) A Buyer's on-site inspection of the property being purchased, just prior to
closing. (2) A detailed inspection of a new construction home, in which punch
list and cosmetic items are addressed, prior to final acceptance
A type of deed that contains express assurances about the legal validity of the
title being transferred. See general warranty deed andspecial warranty deed.
writ of execution
A court order which authorizes and directs the proper officer of the court (usually
the sheriff) to carry into effect the judgment or decree of the court