Real Estate Terms & Definitions

Question	Answer
Curtesy	The right that a spouse has to a portion of real property that is owned by his/her spouse after the owner dies, even if the property is willed to someone else.
Will	A document that describes how a person's property, real (real estate and all associated rights) or personal (all property that is not attached to real property), is to be distributed after death.
Client	Another word for a principle (customer).
Surety Bond	Although, the coverage provided by the surety bond has been come to be defined as making up for losses caused by dishonest acts of an employee, the coverage It technically assures payment whenever something is not done in an agreed-upon period of time. For example; a surety bond provides an insurance coverage for a loss as a result of rent being stolen by the one who is tasked with collecting it.

Resource summary

	Created by Jason Page over 4 years ago