Real Estate Glossary

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

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

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

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

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.

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.

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.

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.

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