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Waiver |
The relinquishing of a right |
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Warranty |
A guarantee provided to the purchases regarding
the quality of appliances or fixtures sold
Also a promise by the grantor of
a piece of property that he or she is responsible to the buyer if the title of
ownership is defect in any way |
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Warranty deed |
A document conveying ownership of a property
that guarantees a clear, clean title |
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Will |
A written document stating how an individual
chooses to have his or her property distributed after his or her
death |
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Wraparound loan or Wraparound
mortgage |
A method of refinancing which covers the
remaining balance on an existing first mortgage as well as the additional
amount of loan being requested by the mortgagor; full payments covering both
mortgages are made to the Wraparound mortgagee, who then forwards on the
portion of payment due to the first mortgagee |
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Did We Miss the Word YOU Are Looking For? Is there a real estate word that we failed to explain here in our dictionary for homebuyers and sellers? Let us be your personal real estate dictionary! We'll send a brief explanation of any word or term that you encounter when buying and selling property. Do you have a suggestion of a real estate word that should be included? Let us know! We always appreciate feedback. Do any of these definitions raise questions for you? Didn't find the word you're looking for? Let us know! We're happy to answer ANY questions. It's our job! There's no obligation, and we promise to get back to you quickly...
| Q |
What is the legal term used to describe the right of the U. S. government to condemn private land for public use?
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| A |
Right of Eminent Domain allows the government to confiscate private land by paying full market value for the property. |
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RE/MAX Platinum Group
200 Woodport Road
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973-222-3777
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Lynn Garafola, GRI, CRS, CLHMS, is a seasoned real estate veteran who has successfully closed more than $125 million in transactions and won numerous industry awards and accolades. Lynn has enjoyed helping over 400 families make moves in and out of Northern New Jersey over her 15 year career. Lynn is known for being a tireless advocate for her clients. When you are looking to buy, she takes the time to explore who you are and what you want, helping you discover what you need, what you like and what fits your budget. And then gets you into that home. When its time to sell, you can count on her guidance on preparing your home for sale and pricing it right. And then she takes over and markets it aggressively to get it sold for you. Not only is she very knowledgeable about the housing market in New Jersey, she is very personable and professional and stays in touch after the sale. You can count on Lynn to take care of ALL of your real estate needs. Call or email Lynn@MyNestBuilder.com today for an appointment with your real estate needs.    
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