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NOTICE TO QUIT
A written notice given by a landlord to his tenant, stating that the landlord intends to regain possession of the leased premises and that the tenant is required to quit and remove himself from the premises either at the end of the lease term or immediately if there is a breach of lease or if the tenancy is at will or by sufferance; sometimes refers to the notice given by the tenant to the landlord that he intends to give up possession on a stated day.

AMENITIES
Features, both tangible and intangible, which enhance and add to the desirability of real estate.

OPTION
An agreement to keep open, over a set period, an offer to sell or purchase property.

PREPAYMENT
Full or partial repayment of the principal before the contractual due date.

FEDERAL TRADE COMMISSION (FTC)
A federal agency created to investigate and eliminate unfair and deceptive trade practices in business.

DISCLAIMER
A statement denying legal responsibility, frequently found in the form of, "There are no promises, representations, oral understandings or agreements except as contained herein."

RECAPTURE CLAUSE
A clause usually found in percentage leases, especially in shopping center leases, giving the landlord the right to terminate the lease (and thus "recapture" the premises)if the tenant does not maintain a specified minimum amount of business.

BULK TRANSFERS
Any transfer in bulk, and not in the ordinary course of the seller's business, of a major part of the materials, inventory or supplies of an enterprise.

GOVERNMENT SURVEY
A system of land description in which large blocks of land are divided into tracts bounded by imaginary lines conforming to the true meridian.

DEBT SERVICE
The amount of money needed to meet the periodic payments of principal and interest when a debt is amortized.

MARGINAL LAND
Land which is of little value because of some deficiency, such as poor access, lack of adequate rainfall, or steep terrain.

COLLATERAL
Assets (such as your home) pledged as security for a debt.

TENANT
In general, one who holds or possesses property, such as a life tenant or a tenant for years; commonly used to refer to a lessee under a lease.

TENANCY AT WILL
A tenancy in which a person is in possession of real estate with the permission of the owner, for a term of unspecified or uncertain duration, as when an owner permits a tenant to occupy a property until it is sold.

DEPRECIATION (TAX)
For tax purposes, depreciation is an expense deduction taken for an investment in depreciable property.

INTEREST RATE
The annual rate of interest on the loan, expressed as a percentage of 100.

MONUMENTS
Visible markers, both natural and artificial objects, which are used to establish the lines and boundaries of a survey.

GIFT TAX
A graduated federal tax paid by a donor upon making a gift.

POWER OF ATTORNEY
Legal document authorizing one person to act on behalf of another.

ACKNOWLEDGEMENT
A formal declaration made before a duly authorized officer, usually a Notary Public, by a person who has signed a document.

PREPAYMENT PENALTY
Fee charged by a lender for a loan paid off in advance of the contractual due date.

ABANDONMENT
The voluntary surrender or relinquishment of possession of real property with the intention of terminating one's possession or interest, but without vesting this interest in any other person.

POSSESSION
The act of either actually or constructively possessing or occupying property.

RECONVEYANCE
The transfer of property back to the owner when a mortgage loan is fully repaid.

PRORATE
To divide or distribute proportionately.

LETTER OF CREDIT
An agreement or commitment by a bank("issuer") made at the request of a customer ("account party")that the bank will honor drafts or other demands of payment from third parties ("beneficiaries") upon compliance with the conditions specified in the letter of credit.

CERTIFIED CHECK
A check which the bank guarantees to be good, and against which a stop payment is ineffective.

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