Reconveyance

The transfer of the title of land from one person to the preceding owner.

Origin:

Submitted by WaterSound Homes

Recorder

An employee of local government whose role is to keep records of all real estate transactions in their area.

Origin:

Submitted by WaterSound Condos

Recording

The filing of a real estate transaction with the appropriate government agent.

Origin:

Submitted by WaterSound Lots

Recurring Costs

The expenses that a property owner can expect year after year.

Origin:

Submitted by Lake Mannassas Homes

Redemption Period

A period of time established by law in mortgage states during which a property owner has the right to repurchase or recover his or her real property following a foreclosure.

Origin:

Submitted by Lake Mannassas Real Estate

Refinancing

The paying off of an existing mortgage loan obligation by extending or renewing existing financing.

Origin:

Submitted by Rancho Cucamonga Real Estate

Reformation

The action taken to correct an error in any legal document.

Origin:

Submitted by Chesapeake Realty

Reinsurance

A contract that one insurer makes with another to protect itself wholly or partially against loss.

Origin:

Submitted by Virginia Beach Homes

Rent Loss Insurance

Insurance that protects a landlord against loss of any rent.

Origin:

Submitted by Virginia Beach Real Estate

Residential

A reference to a type of property namely housing in general.

Origin:

Submitted by Clearwater Homes