The real estate industry has its own unique language and, without some knowledge of this
language, you may find yourself a bit confused if you become involved in a real estate
transaction. With this in mind, the experts at Commonwealth Land Title Insurance Company
have compiled the following glossary of terms commonly used in the real estate industry.
Whether you are entering the real estate market for the first time or have invested in it
before, this handy reference will provide an understanding of basic real estate words and
phrases.
Balloon Note -
Bankruptcy –
A form of promissory note that calls for the minimum payment of principal and the payment of interest at regular intervals. This type of note requires a substantial final payment, which represents all the principal.
Bankruptcy –
A proceeding in U.S. District Court wherein assets of an insolvent debtor are protected and distributed in an equitable manner.