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Real Estate Glossary

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Term
Definition
Abstract of judgment,law
The summary of a court judgment that creates a lien against a property when filed with the county recorder.
Accelerated cost recovery system
A tax calculation that provides greater depreciation in the early years of ownership of real estate or personal property.
Acceleration clause
A provision that gives a lender the right to collect the balance of a loan if a borrower misses a payment.
Accelerated depreciation
A bookkeeping method that depreciates property faster in the early years of ownership.
Acceptance
The seller's written approval of a buyer's offer.
Access
Any means by which a person can enter property.
Accessibility
The degree to which a building or site allows access to people with disabilities.
Accretion
The gradual addition to the shore or bank of a waterway by deposits of sand or silt.
Acknowledgment
A written declaration affirming that a person acted voluntarily.
Acre
A measurement of land equal to 43,560 square feet.
Acre foot
The volume of material needed to cover an acre of land one foot deep.
Active solar system
A system that utilizes electric pumps or fans to transfer solar energy for storage or direct use.
Actual age
The number of years a structure has been standing.
Addendum
An addition or change to a contract.
Additional principal payment
Extra money included in the monthly payment to help reduce the principal and shorten the term of the loan.

* Glossary Services are provided by Inman News, Real Estate News Service