RECORDING – The deed of entry into the book of public records the written instruments that give title to real estate, such as deeds, mortgages, sales contracts, options, assignments, and others. The appropriate registration provides the world with constructive communication about the existence and content of the recorded document. HABITABLE – Be fit to live. The tenant is required to keep the rented premises in a habitable condition. FINANCE FEE – Mortgage brokerage fees to cover the costs of placing the mortgage with a credit institution; Borrowing or original fees. NONDISTURBANCE CLAUSE – A clause that is inserted into a mortgage, the mortgage requires not to terminate the rental contracts of tenants who pay their rent when the mortgage closes on the building of the owner Mortgagor. COVENANT – A written agreement or a commitment of two or more parties, by which either the obligation to perform or not perform certain acts on a property, or that indicates certain uses or non-use of the property. One drawback is that if the purchase price of the home exceeds the mortgage balance by a considerable amount, the buyer may need to get a new mortgage. In this case, the bank or lender may include a higher interest rate on the mortgage of $140,000, depending on the buyer`s credit risk. BUFFER ZONE – A strip of land that separates one land from another. COOPERATING BROKER – A broker who connects to another broker in the sale of real estate. LOAN-TO-VALUE RATIO – The ratio of the loan amount to the weighted value of the property or the sale price, based on its lower value. DENSITY – A term often used in zoning requirements, i.e.




the maximum number of building units per hectare or the number of occupants or families per unit of land (acre, square mile, etc.); in general, the ratio of area to area improvement. AGENT – Someone who can represent and act on behalf of another person (called the client). A real estate agent is his client`s broker, whether the seller or buyer, to whom he owes a fiduciary duty. A seller is the representative of his broker and has no direct contractual relationship with the seller or with the buyer. IMPLIED WARRANTY OF HABITABILITY – A legal doctrine that requires the lessor to return the premises rented for occupancy and occupancy and to keep them in a state of repair for the duration of the lease. REDEMPTION, EQUITABLE RIGHT OF – The right of a mortgagor who, on the mortgage note, has become insolvent to recover or recover his property by paying the entire mortgage note before the forced sale. PARTIAL RELEASE – A clause found in a mortgage that orders the mortgage to release certain packages from the pawn of the lump sum mortgage after the payment of a certain amount of money. MERCHANT VALEUR – The highest price, estimated in terms of money, will bring a property when suspended from sale on the open market, so that a reasonable time to find a buyer who buys with knowledge of all uses to which the property is suitable and for which it can be used. EXCLUSIVE AGENCE – A written listing agreement that gives a broker the right to sell real estate for a period of time, but to reserve the owner`s right to sell the property himself without paying a commission. RIPARIAN – Rights and obligations adjacent to land ownership or streams such as streams and lakes.