Hampton Roads Yellow Pages,

BILL OF SALE
A written agreement by which one person sells, assigns or transfers his right to, or interest in, personal property to another.

DEFAULT
Failure to meet legal obligations in a contract, including failure to make payments on a loan.

ANNUAL PERCENTAGE RATE (APR)
The cost of credit expressed as a yearly rate. The annual percentage rate is often not the same as the interest rate. It is a percentage that results from an equation considering the amount financed, the finance charges, and the term of the loan.

SHORELINE
The dividing line between private land and public beach on beachfront property.

QUIET ENJOYMENT
The right of a new owner or a lessee legally in possession to uninterrupted use of the property without interference from the former owner, lessor or any third party claiming superior title.

JUDICIAL FORECLOSURE
A method of foreclosing upon real property by means of a court supervised sale. After an appraisal, the court determines an upset price below which no bids to purchase will be accepted.

ZONING ORDINANCES (OR ZONING REGULATIONS)
Local law establishing building codes and usage regulations for properties in a specified area.

ACCRETION
The gradual and imperceptible addition to land by alluvial deposits of soil through natural causes, such as shoreline movement caused by streams or rivers.

RECEIVER
An independent party appointed by a court to impartially receive, preserve and manage property which is involved in litigation, pending final disposition of the matter before the court.

INSTITUTIONAL LENDER
Financial institutions such as banks, insurance companies, savings and loans or any lending institution whose loans are regulated by law.

FANNIE MAE
A common nickname for the Federal National Mortgage Association.

PREPAID INTEREST
The paying of interest before it is due.

QUALIFIED FEE
An estate in fee which is subject to certain limitations imposed by the owner.

PROPERTY MANAGEMENT
That aspect of real estate devoted to the leasing, managing, marketing and overall maintenance of the property of others.

INTEREST
Charge paid for borrowing money, calculated as a percentage of the remaining balance of the amount borrowed.

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