Colibri Real Estate Vocabulary
Abstract of Title - 🧠 ANSWER ✔✔A history of the ownership of a parcel of
land which lists transfers of title, rights, and liabilities.
Accession - 🧠 ANSWER ✔✔The idea that the owner of land is entitled to all
that the soil produces or all that is added to the land either intentionally or
by mistake. Trade fixtures not removed are "assessed" by the owner of the
property.
Ad Valorem - 🧠 ANSWER ✔✔A prefix meaning "based on value." Most
local governments levy an ad valorem tax on property.
,Adverse Possession - 🧠 ANSWER ✔✔A method of acquiring original title to
property by open, notorious and hostile possession for a statutory period of
time; also referred to as prescription. Poach.
Alienation Clause - 🧠 ANSWER ✔✔A provision in a mortgage requiring full
payment of the debt upon the transfer of title to the property, due on sale.
Prevents loan assumptions.
Allodial Rights - 🧠 ANSWER ✔✔The free and full ownership of rights in land
by individuals, which is the basis of real property in the United States.
Appurtenance - 🧠 ANSWER ✔✔Any right or privilege which belongs to and
passes with land.
Arm's Length Transaction - 🧠 ANSWER ✔✔Occurs between willing buyer
and willing seller with each party completely knowledgeable about the
market.
Arrears - 🧠 ANSWER ✔✔Not on time; late in making payments or
completing work. Interest is paid in arrears.
Attestation - 🧠 ANSWER ✔✔The act of witnessing a person's signing of an
instrument by a notary public.
, Attorney's Opinion of Title - 🧠 ANSWER ✔✔A statement issued by an
attorney after analyzing an abstract as to quality of title.
Avulsion - 🧠 ANSWER ✔✔Occurs in cases where there is a sudden loss of
land through nature.
Balloon Payment - 🧠 ANSWER ✔✔The remaining balance, at maturity, on a
loan that has not been completely repaid through periodic payments. Once
paid, the outstanding balance is zero. Partially amortized loan.
Bargain and Sale Deed - 🧠 ANSWER ✔✔An instrument conveying title
which recites a valuable consideration and commonly uses the words
"bargain and sale" or words of similar import.
Bilateral Contract - 🧠 ANSWER ✔✔A contract in which a promise is given
for the promise of another. It becomes binding when mutual promises are
communicated. (A real estate contract).
Blanket Mortgage - 🧠 ANSWER ✔✔A mortgage which covers more than
one piece of real estate. Often used by a developer in the financing of
undeveloped lots. Contains a partial release clause.
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2026. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
3
Abstract of Title - 🧠 ANSWER ✔✔A history of the ownership of a parcel of
land which lists transfers of title, rights, and liabilities.
Accession - 🧠 ANSWER ✔✔The idea that the owner of land is entitled to all
that the soil produces or all that is added to the land either intentionally or
by mistake. Trade fixtures not removed are "assessed" by the owner of the
property.
Ad Valorem - 🧠 ANSWER ✔✔A prefix meaning "based on value." Most
local governments levy an ad valorem tax on property.
,Adverse Possession - 🧠 ANSWER ✔✔A method of acquiring original title to
property by open, notorious and hostile possession for a statutory period of
time; also referred to as prescription. Poach.
Alienation Clause - 🧠 ANSWER ✔✔A provision in a mortgage requiring full
payment of the debt upon the transfer of title to the property, due on sale.
Prevents loan assumptions.
Allodial Rights - 🧠 ANSWER ✔✔The free and full ownership of rights in land
by individuals, which is the basis of real property in the United States.
Appurtenance - 🧠 ANSWER ✔✔Any right or privilege which belongs to and
passes with land.
Arm's Length Transaction - 🧠 ANSWER ✔✔Occurs between willing buyer
and willing seller with each party completely knowledgeable about the
market.
Arrears - 🧠 ANSWER ✔✔Not on time; late in making payments or
completing work. Interest is paid in arrears.
Attestation - 🧠 ANSWER ✔✔The act of witnessing a person's signing of an
instrument by a notary public.
, Attorney's Opinion of Title - 🧠 ANSWER ✔✔A statement issued by an
attorney after analyzing an abstract as to quality of title.
Avulsion - 🧠 ANSWER ✔✔Occurs in cases where there is a sudden loss of
land through nature.
Balloon Payment - 🧠 ANSWER ✔✔The remaining balance, at maturity, on a
loan that has not been completely repaid through periodic payments. Once
paid, the outstanding balance is zero. Partially amortized loan.
Bargain and Sale Deed - 🧠 ANSWER ✔✔An instrument conveying title
which recites a valuable consideration and commonly uses the words
"bargain and sale" or words of similar import.
Bilateral Contract - 🧠 ANSWER ✔✔A contract in which a promise is given
for the promise of another. It becomes binding when mutual promises are
communicated. (A real estate contract).
Blanket Mortgage - 🧠 ANSWER ✔✔A mortgage which covers more than
one piece of real estate. Often used by a developer in the financing of
undeveloped lots. Contains a partial release clause.
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2026. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
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