A federal tax mechanism that may allow qualifying real-property gains to be deferred when replacement-property and timing requirements are satisfied.

The intentional relinquishment of a property right or interest. Nonuse alone does not always prove abandonment, and different rules apply to ownership, easements, leases and personal property.

A temporary reduction, suspension or elimination of an obligation such as rent or property tax, when authorized by a contract, program, order or law.

A measure of how quickly available properties are sold or leased in a market during a stated period. The calculation and property set should be identified before comparing markets.

A condensed history of recorded instruments affecting a parcel. It is not the same as a title examination, title opinion or title-insurance policy.

A loan provision allowing the lender to require the entire unpaid balance after a stated default or triggering event.

A secondary structure or use associated with the principal property, such as a detached garage, shed or accessory dwelling unit, subject to local zoning and building rules.

A land-area unit equal to 43,560 square feet. Advertised acreage should be confirmed through a survey or reliable land records.

A document added to a contract that supplies or changes terms and becomes part of the agreement when properly executed.

A mortgage whose interest rate may change at scheduled times based on an index, margin and loan terms.

A legal doctrine through which possession meeting strict statutory requirements for the required period may mature into a claim of ownership.

Rights to use, occupy or develop space above land or an improvement, subject to zoning, easements, structural limits and other restrictions.

Features that contribute to a property's usefulness or appeal, such as parking, a pool, fitness space, trails or building services.

The scheduled reduction of a loan balance through payments that generally include principal and interest.

A standardized measure of borrowing cost that incorporates the interest rate and certain loan charges, making it broader than the note rate.

An independent professional opinion of a property’s value, commonly ordered by a lender to evaluate loan collateral.

An increase in property value over time. Appreciation is not guaranteed and may reflect market conditions, improvements, inflation or other factors.

A private dispute-resolution process in which an arbitrator decides a controversy under the parties' agreement. Whether a decision is binding and appealable depends on the clause and governing law.

A contract term indicating that the buyer accepts the property in its present condition, subject to the exact contract language and any negotiated inspection or termination rights.

The price at which an owner offers a property for sale. It is a marketing decision and may differ from appraised value, assessed value or the final sale price.

A value assigned by a taxing authority for property-tax purposes; it may differ from market value, appraisal value or sale price.

An official valuation or charge imposed for taxation or a specific public or association expense. The meaning depends on whether the reference is to taxable value or a billed assessment.

Property or another resource with economic value that an individual or entity owns or controls.

A transfer of contractual rights or interests from one party to another, if permitted by the agreement and law.

A sale method in which participants bid under announced terms. Deposits, buyer premiums, financing limits, inspection rights and reserve conditions should be reviewed before bidding.

A large payment due at the end of a loan after smaller periodic payments did not fully amortize the balance.

The minimum stated rent in a lease before additional rent, operating expenses, percentage rent or other charges.

One one-hundredth of one percentage point. For example, 25 basis points equals 0.25 percentage points.

A loan secured by more than one parcel or property, often with provisions describing when individual collateral may be released.

A survey locating property boundaries, corners, improvements and potential encroachments or easements based on records and field work.

A failure to perform a material obligation required by a contract, subject to the agreement’s notice, cure and remedy provisions.

A broker’s opinion of probable property value or price, prepared for an authorized purpose. It is not an appraisal.

A written contract in which a seller, buyer, landlord or tenant becomes a broker’s client and agrees to compensation or permits compensation from another source for brokerage services.

The Brokerage Relationships in Real Estate Transactions Act—the Georgia law governing relationships and duties among real-estate brokers, clients and customers.

Government-adopted standards addressing construction, safety, systems and occupancy. Applicable editions and enforcement vary by jurisdiction.

A way of describing distinct real-property rights—such as possession, use, exclusion, transfer and enjoyment—that may be limited or divided among parties.

An arrangement in which money is paid to reduce a borrower’s mortgage interest rate permanently or for an initial period.

A market with relatively plentiful inventory or weaker demand, often giving buyers more negotiating leverage. Conditions can vary by location, property type and price range.

A significant cost to acquire, replace or improve a long-lived property component rather than an ordinary operating expense.

The taxable gain potentially recognized when property is sold for more than its adjusted tax basis, subject to exclusions, deductions and other tax rules. Consult a tax professional.

Funds set aside for future major repairs, replacements or capital needs rather than routine operating expenses.

An income-property metric calculated by dividing annual net operating income by value or purchase price. It does not include financing costs.

Money remaining from property income after the expenses included in the calculation. A useful analysis should state whether debt service, reserves, taxes and capital costs are included.

Annual before-tax cash flow divided by the investor's actual cash invested, expressed as a percentage. It does not by itself measure appreciation, tax effects or total return.

A traditional principle meaning the buyer must exercise appropriate diligence. It does not erase contractual duties, required disclosures, fraud rules or other legal protections.

A local government document indicating that a building or space is approved for a stated occupancy or use under applicable codes.

The sequence of recorded transfers and interests forming a property’s ownership history.

Informal market labels used to compare properties by age, condition, location, amenities, tenancy and investment risk. There is no single universal grading standard.

A person represented by a real-estate broker in an agency capacity under a brokerage engagement.

Transaction expenses due at or around closing, which may include lender, attorney, title, recording, tax, brokerage and prepaid items.

A federal mortgage disclosure showing final loan terms, projected payments and closing costs for many consumer loans.

A claim, document, error or uncertainty that may impair clear ownership or transfer until resolved.

A claim of ownership based on a written instrument that appears to convey title but may be defective.

Real estate used primarily for business or investment purposes, including office, retail, industrial, hospitality and many multifamily properties.

Improperly mixing client or trust money with a broker’s personal or operating funds.

Space intended for shared use, such as lobbies, corridors, parking areas or recreation facilities. Responsibility for costs and maintenance depends on governing documents or the lease.

Commercial-lease charges allocated to tenants for operating and maintaining shared areas, as defined by the lease.

A broker’s analysis of relevant listings, sales and market conditions to help estimate a property’s likely market position or price range.

A negotiated financial or nonfinancial incentive, such as a closing-cost credit, repair credit or period of free rent, subject to the contract and lender rules.

The legal process used by an authorized condemning body to acquire private property or property rights for a public use through eminent domain.

A land use allowed in a zoning district only after specified standards, conditions and approval procedures are satisfied.

A form of ownership combining a separately owned unit with an undivided interest in common elements governed by recorded documents and an association.

A mortgage meeting applicable purchase standards and loan limits of Fannie Mae or Freddie Mac.

Something of legal value exchanged to support a contract, such as money, a promise, an act or forbearance.

Short-term financing that typically funds construction in draws subject to plans, inspections, budgets and lender controls.

Sharing a common boundary or touching. Parcels separated by a road, right-of-way or water feature may require closer legal and surveying analysis.

A contract condition that must be satisfied or waived for a transaction to proceed as written, such as financing, appraisal, inspection or sale-of-property conditions.

A response changing terms of an offer. It generally rejects the original offer and proposes a new offer unless the document states otherwise.

A recorded or contractual promise restricting or requiring certain use of land, often found in subdivision or association documents.

A person who is not represented by a broker as a client but for whom a broker may perform limited ministerial acts.

A property-income metric comparing net operating income with required debt payments. Lenders use it to evaluate repayment capacity.

The percentage of a borrower’s gross monthly income used for recurring debt obligations, commonly considered in mortgage underwriting.

A legal instrument used to transfer an interest in real property from one party to another.

Failure to perform a required contractual obligation, potentially triggering notice, cure, termination, acceleration or other remedies.

A money judgment that may be sought when collateral sale proceeds do not satisfy the debt, subject to applicable law and procedure.

The amount of development permitted or built on a given land area, often measured as dwelling units per acre or floor-area ratio.

A tax-accounting deduction that may allocate the cost of qualifying property over a recovery period. Tax treatment requires professional advice.

A licensee assigned by a broker to represent one client exclusively in a transaction, separate from licensees assigned to another client.

Georgia’s court process through which a landlord seeks possession of rental property and may also seek unpaid rent or other relief.

Land benefited by an easement over another parcel, known as the servient estate.

The portion of a purchase price paid from the buyer’s funds rather than financed by the primary mortgage.

A broker who simultaneously represents both seller and buyer, or both landlord and tenant, in the same transaction.

A negotiated contract period in which a buyer may investigate the property and exercise rights stated in the agreement before the deadline.

Money deposited in connection with a purchase contract to show the buyer’s good-faith intent and handled according to the contract and escrow rules.

A nonpossessory right to use another person’s land for a stated purpose, such as access, drainage or utilities.

A potential court-recognized access right arising under strict circumstances when land lacks access and the legal elements are proven.

The governmental power to take private property or property rights for an authorized public use through condemnation, with constitutionally required compensation.

A structure, improvement or use that extends across a property boundary or into an easement or restricted area without clear authorization.

The difference between a property’s value and debt or other financial claims against it, before selling costs and taxes.

An arrangement in which money or documents are held by a neutral or authorized party until stated conditions are satisfied.

A signed statement confirming specified lease facts, such as rent, term, deposits, amendments and claimed defaults, commonly used in commercial transactions.

A listing arrangement generally giving the broker the exclusive right to market the property and earn compensation when the property is sold during the agreement, subject to its terms.

Federal and state protections that prohibit certain housing discrimination based on protected characteristics.

The probable price a willing, informed buyer and seller would agree upon in an open market, neither being under improper compulsion.

The broadest form of private real-property ownership, subject to governmental powers, liens, easements and other valid restrictions.

A mortgage insured by the Federal Housing Administration and originated by an approved lender, subject to program rules.

An item attached or adapted to real property such that the contract or law may treat it as part of the property rather than personal property.

A mapped area categorized for flood risk and insurance purposes. Maps do not eliminate the need for property-specific flood investigation.

A temporary agreement by a lender or servicer to reduce or pause required payments; amounts are generally still owed under the agreement.

The legal process through which a secured lender enforces rights against collateral after default.

A lease structure in which stated rent includes some or most property operating expenses, subject to exclusions, base years and expense stops.

A rough investment metric calculated by dividing price by gross rental income. It does not account for operating expenses or financing.

A long-term lease of land under which the tenant may construct or own improvements, subject to detailed financing, use and reversion terms.

The basic requirement that residential rental property meet applicable standards for safe and livable occupancy.

An organization administering recorded community covenants, rules, assessments and common property for covered owners.

A visual and functional examination of property condition by an appropriately qualified inspector. Scope and exclusions depend on the agreement.

A loan allowing payments of interest without scheduled principal reduction for a stated period, often followed by higher payments or a balloon.

A property-owner claim alleging that government action effectively took or damaged private property without first completing formal condemnation and compensation.

Co-ownership in which the deed may provide survivorship rights. Exact ownership depends on the instrument and state law.

The compensation constitutionally required when private property is taken or damaged for public use.

Seller-financing in which payment and possession may occur before legal title transfers, depending on the agreement.

A parcel lacking direct legal access to a public road. Physical paths or informal permission do not necessarily establish legal access.

A lease paired with a right, but generally not an obligation, to purchase under stated terms and deadlines.

A tenant’s legal interest in possessing and using property for the lease term, subject to the lease.

A legal claim or encumbrance against property that may secure payment of a debt or obligation.

The loan amount divided by the property’s appraised value or purchase price, as defined by the lender.

Title reasonably free from material defects or litigation risk so that a prudent buyer can accept it, subject to permitted exceptions.

Under Georgia brokerage law, a fact a party does not know, could not reasonably discover and would reasonably want to know.

A statutory claim that qualifying contractors, subcontractors or suppliers may assert against property for unpaid labor or materials.

Limited acts that do not require a broker’s or licensee’s professional judgment or skill, such as supplying information or assisting with mechanical steps.

A financing arrangement secured by real property. Georgia commonly uses a security deed to convey legal title to secure repayment.

A commercial lease requiring the tenant to pay stated property expenses in addition to base rent; N, NN and NNN allocations vary by the actual lease.

Income from property operations after ordinary operating expenses but before debt service, income taxes, depreciation and usually capital expenditures.

A use lawfully established under earlier zoning rules that does not conform to current zoning, subject to local continuation, expansion and abandonment rules.

A contractual right to buy or lease property on stated terms within a specified time, generally supported by consideration.

A transaction in which the seller provides some or all financing to the buyer under negotiated repayment and security documents.

A local tax-assessor identifier for a parcel. It helps locate records but is not itself a legal description or proof of ownership.

A commercial lease requiring base rent plus a percentage of defined tenant sales above or from a stated breakpoint.

A development governed by an approved plan and special zoning or recorded documents that may mix uses, lot types and common amenities.

A map showing lots, boundaries, streets, easements or other survey information, often recorded in county land records.

A lender’s conditional assessment of a borrower’s ability to qualify, based on reviewed information and subject to underwriting, property and updated documentation.

A loan charge that may apply when principal is repaid earlier than allowed by the agreement and applicable law.

A claimed right to use land arising from qualifying use for the statutory period when all legal elements are proven.

Insurance protecting a lender against certain borrower defaults, often required for conventional loans with higher loan-to-value ratios.

A local tax based on assessed property value, exemptions and the applicable millage rate.

A court proceeding used to resolve competing ownership claims or remove certain title defects.

A deed conveying whatever interest the grantor may have without the title warranties typically associated with a warranty deed.

Placing a deed, security instrument, lien or other document in county real-estate records to provide public notice and establish priority as applicable.

A property-level schedule of tenants, units, lease dates, rents, deposits and other lease information used in operations and due diligence.

A contractual right allowing its holder to match or respond to a proposed transaction before the owner sells or leases to another party.

Land or an interest in land used or reserved for travel, utilities or public infrastructure; its width and ownership require record review.

A transaction in which an owner sells property and simultaneously leases it from the buyer, converting equity while retaining occupancy.

Money held to secure a tenant’s performance under a lease, subject to the lease and applicable law.

A market with relatively limited inventory or stronger demand, often giving sellers more negotiating leverage. Conditions can vary sharply within the same metro area.

A seller-provided statement describing known property conditions, systems, repairs and other matters addressed by the form.

Land burdened by an easement benefiting another parcel, called the dominant estate.

A charge imposed for a specific project or expense by an association or governmental body, separate from regular dues or taxes.

A court remedy potentially ordering a party to perform a real-estate contract when money damages are inadequate. Availability is a legal determination.

The division of land into lots or parcels under local ordinances, platting requirements, access rules and infrastructure standards.

A lease by an existing tenant to another occupant while the original lease remains in place, if permitted by the lease and law.

A governmental claim securing unpaid taxes that can affect title, priority, sale and financing.

Co-ownership in which each owner holds an undivided interest that may be unequal and generally passes through that owner’s estate rather than automatically by survivorship.

An occupant who originally entered lawfully but remains after the right to possess has ended.

Insurance against covered title defects, liens or ownership risks subject to the policy’s exceptions, exclusions and limits.

A review of public records and other title information to identify ownership, liens, encumbrances and issues affecting transfer.

A broker who has not entered into a client relationship with a party in the transaction and performs only ministerial acts for compensation.

A tax associated with recording a transfer of real property, calculated and allocated under applicable law and transaction documents.

A commercial net lease commonly allocating property taxes, insurance and maintenance or operating expenses to the tenant in addition to base rent. The lease controls the exact allocation.

Charging interest above limits permitted by applicable law. Limits and exceptions depend on loan type, amount, parties and documents.

A mortgage guaranteed by the U.S. Department of Veterans Affairs for eligible borrowers and approved properties, subject to program and lender requirements.

Permission from a local zoning authority to depart from a dimensional or other zoning requirement when legal standards are met. It is not the same as rezoning.

A deed containing stated promises by the grantor concerning title. The scope depends on whether warranties are general, limited or otherwise modified.

Areas meeting regulatory soil, vegetation and hydrology criteria that may be subject to federal, state or local restrictions and permitting.

A court order authorizing the lawful recovery of possession after the required dispossessory process.

A measure of investment income or return relative to price, equity or cost. The calculation must be identified because different yield measures are not interchangeable.

Local land-use regulation governing how a parcel may be used or developed.