Real Estate Glossary

Real Estate Glossary

There are 24 entries in this glossary.
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Term Main definition
Step-Up Lease (Graded Lease)

A lease calling for set increases in rent at set intervals.

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Straight Lease (Flat Lease)

A lease calling for the same amount of rent to be paid periodically (usually monthly) for the entire term of the lease.

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Strip Center

Any shopping area, generally with common parking, comprised of a row of stores.

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One who works under a general contractor; often a specialist, such as an electrical contractor, cement contractor, etc.

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Subdivision Plat

A detailed drawing, to scale, depicting division of a parcel of land into two or more lots and containing engineering considerations and other information required.

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Subordination Agreement

An agreement by which the priority of a mortgage lender is relinquished in favor of that of a lender that would otherwise be junior in status.

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One who voluntarily binds himself to be obligated for the debt or obligation of another. A common example is the co-maker of a note. Surety differs from guarantor, although the terms are commonly (and mistakenly) used interchangeably.

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Surface Rights

The rights (i.e., easements) to use the surface of land, including the right to drill or mine through the surface when subsurface rights are involved.

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The measurement of the boundaries of parcel a of land, its area and sometimes its topography.

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