|
Hazard insurance |
a form of insurance that protects
against certain risks, such as fires and storms. |
|
heir |
One who might inherit or succeed to
an interest in land under the state law of descent when the owner dies
without leaving a valid will.
|
|
highest and best use |
That possible use of land which will
produce the greatest net income and thereby develop the highest land
value.
|
|
holdover tenancy |
A tenancy whereby a lessee retains
possession of leased property after his or her lease has expired and the
landlord, by continuing to accept rent from the tenant, agrees to the
tenant’s continued occupancy as defined by state law.
|
|
Homeowners’ association |
organization of the homeowners
in a particular subdivision, planned unit development, or condominium;
generally for the purpose of enforcing deed restrictions or managing the
common elements of the development. |
|
homeowner’s insurance policy |
A standardized package insurance
policy which covers a residential real estate owner against financial
loss from fire, theft, public liability, and other common risks.
|
|
homeowners’ warranty program |
An insurance program offered to
buyers by some brokerages, warranting the property against certain
defects for a specified period of time.
|
|
homestead |
Land which is owned and occupied as
the family home. In many states, a portion of the area or value of this
land is protected or exempt from judgments for debts.
|
|
Homestead Exemption |
a state statutory regulation designed to protect a property against
attachment of the property by creditors. In most states, any
homeowner may file for homestead exemption by filing the appropriate
forms with their local county records office. |
| |
|
| |
|
| |
|
| |
|
