Hampton Roads Virginia,

GRANTOR
The person transferring title to, or an interest in, real property. A grantor must be competent to convey; thus, for example, an insane person cannot convey title to real property.

CONVEYANCE
The document used to effect a transfer, such as a deed, or mortgage.

FRAUD
Any form of deceit, trickery, breach of confidence or misrepresentation by which one party attempts to gain some unfair or dishonest advantage over another.

GENERAL CONTRACTOR
A construction specialist who enters into a formal construction contract with a land owner or master lessee to construct a real estate building or project.

SECOND MORTGAGE
An additional mortgage placed on a property that has rights that are subordinate to the first mortgage.

UPSET PRICE
A minimum price set by a court in a judicial foreclosure, below which the property may not be sold by a court appointed commissioner at public auction; the minimum price which can be accepted for the property after the court has had the property appraised.

SETTLEMENT (OR CLOSING)
The settlement or closing is the conclusion of your real estate transaction. It includes the delivery of your security instrument, signing of your legal documents and the disbursement of the funds necessary to the sale of your home or loan transaction (refinance).

COMMON AREAS
Land or improvements designated for the use and benefit of all residents, property owners and tenants.

EVICTION
The legal process of removing a tenant from possession of the premises for some breach of the lease contract.

ANY CASH RECEIVED WHEN YOU GET A NEW LOAN THAT IS LARGER THAN THE REMAINING BALANCE OF YOUR CURRENT MORTGAGE, BASED UPON THE EQUITY YOU HAVE ALREADY BUILT UP IN THE HOUSE.THE CASH OUT AMOUNT IS CALCULATED BY SUBTRACTING THE SUM OF THE OLD LOAN AND FEES FR
For example, if your existing loan is $100,000, you might refinance it with a loan of $120,000. After you pay off your current loan ($100,000) and any loan-origination costs for the new loan (for example $2,000 in points), you would be left with $18,000 cash out.

EMBLEMENTS
Growing crops (called "fructus industriales"),such as rice and taro, which are produced annually through labor and industry.

DUAL AGENCY
Representing both principals (buyer and seller) to a transaction.

SHOPPING CENTER
A modern classification of retail stores, characterized by off-street parking and clusters of stores, subject to a uniform development plan, and usually with careful analysis given to the proper merchant mix.

TRUTH-IN-LENDING ACT
Federal law requiring written disclosure of the terms of a mortgage (including the APR and other charges) by a lender to a borrower after application. Also requires the right to rescission period.

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