Real Estate Terms
Habendum - The clause in a deed, which specifies the extent of an estate
Half Section - 320 acres
Hazard Insurance - Protection for real estate property from losses due to fire, theft, wind and some accidents.
Header - The framing materials above an opening of a structure, such as a window or doorway.
Height Zoning Density - A regulation of maximum building heights of structures
High Rise - A condo or apartment building with many stories
Highest and Best Use - The legal use of a property that will result in the maximum value of the property
Hip Roof - A type of roof with four sloping sides which rise to a ridge
Home Inspection - An home inspection carried out by a qualified inspector prior to a purchaser buying the property
Home Equity Line of Credit (HELOC) A type of loan against a property that allows a homeowner to draw cash against the equity built up in the property
Home Owner's Association - An association or group of homeowners in a particular community formed for the management and improvement of the community
Homeowner's Insurance - A combination of Hazard Insurance with liability insurance
Homestead - In some states whereby state law protects a qualified property as an asset against certain creditors and/or that property is exempt from a stated amount of taxation
Home Warranty - A type of insurance protecting a new home purchaser for a stated period of time against malfunctioning with appliances, plumbing, heating, etc.,
Housing and Urban Development (HUD) The government entity responsible for housing programs
HUD 1 Statement - An itemized report published by the Housing and Urban Development used for full disclosure of all closing costs connected with the sale and purchase of a property
Real Estate Terms beginning with G
Real Estate Terms beginning with I