Mobile Home Equity Loan,

DEDICATION
The application of privately owned land to the public for no consideration, with the intent that the land will be accepted and used for public purposes.

INTESTATE
To die without a valid will.

DEED OF TRUST
A legal document in which title to property is transferred to a third party trustee as security for an obligation owed by the trustor (borrower) to the beneficiary(lender).

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.

OVERIMPROVEMENT
An improvement which by reason of excess size or cost is not the highest and best use for the site on which it is placed.

FIRST REFUSAL, RIGHT OF
The right of a person to have the first opportunity either to purchase or lease real property.

GOOD FAITH ESTIMATE
Written estimate of the settlement costs the borrower will likely have to pay at closing. Under the Real Estate Settlement Procedures Act (RESPA), the lender is required to provide this disclosure to the borrower within three days of receiving a loan application.

PIGGYBACK LOAN
A joint loan with two lenders sharing a single mortgage.

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

BUSINESS DAYS
Days of the week excluding Saturdays, Sundays, and holidays; normal working days.

MORTGAGOR
The one who gives a mortgage as security for a debt; the borrower; usually the landowner; the borrower or debtor who hypothecates or puts up his property as security for an obligation.

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

HABENDUM CLAUSE
That part of the deed beginning with the words "to have and to hold," following the granting clause and reaffirming the extent of ownership that the grantor is transferring.

EXCHANGE
A transaction in which all or part of the consideration for the purchase of real property is the transfer of property of a like kind.

EXTENSION
An agreement to continue the period of performance beyond the specified period.

ENCUMBRANCE
Any claim, lien, charge or liability attached to and binding upon real property which may lessen the value of the property but will not necessarily prevent transfer of title.

INNOCENT PURCHASER FOR VALUE
One who purchases real property without notice, actual or constructive, of any superior rights or interests in the real property.

LAND, TENEMENTS AND HEREDITAMENTS
A feudal phrase used to describe all types of immovable realty including the land, buildings and all appurtenant rights thereto.

ENTIRETY, TENANCY BY
A form of joint ownership of property between husband and wife with the right of survivorship.

LANDMARK
A stake, stream, cliff, monument or other object or feature which is used to fix or define land boundaries; also a prominent feature of a landscape or property that is the symbol for the place.

AFFIDAVIT
A sworn statement reduced to writing and made under oath before a Notary Public or other official authorized by law to administer an oath.

TURNKEY PROJECT
A development term meaning the complete construction package from ground breaking to the completion of the building. All that is left undone is to turn over the keys to the buyer.

TITLE SEARCH
Examination of municipal records to ensure that the seller is the legal owner of a property and that there are no liens or other claims against the property.