Virginia Divorce Form,

APPRECIATION
An increase in the worth or value of property due to economic or related causes, which may prove to be either temporary or permanent.

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

BROKERAGE
That aspect of the real estate business which is concerned with bringing together the parties and completing a real estate transaction. Brokerage involves exchanges, rentals, trade-ins and management of property, as well as sales.

CLOSING COSTS
Costs for services that must be performed before your loan can be initiated. Examples include title fees, recording fees, appraisal fee, credit report fee, pest inspection, attorney's fees, and surveying fees.

MORTGAGE LOAN
A loan for which real estate serves as collateral to provide for repayment in case of default.

ACCRUED INTEREST
Interest earned but not yet paid.

IMPUTED INTEREST
Interest implied by the federal tax law.

TENANCY BY THE ENTIRETY
A special joint tenancy between a lawfully married husband and wife, which places all title to the property into the marital unit, with both spouses having an equal, undivided interest in the whole property.

MORTGAGE BROKER
A person or firm which acts as an intermediary between borrower and lender; one who, for compensation or gain, negotiates, sells or arranges loans and sometimes continues to service the loans.

REAL ESTATE
The physical land and appurtenances, including any structures; for all practical purposes synonymous with real property.

RESTRICTIVE COVENANT
A private agreement, usually contained in a deed, which restricts the use and occupancy of real property.

TAX IMPOUND
Money paid to and held by a lender for annual tax payments.

FISCAL YEAR
A business year used for tax, corporate or accounting purposes, as opposed to a calendar year.

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