• Appreciation:-It is increase in the value of money due to the forces of supply and demand and market conditions.

• Assignment:-The transfer of a mortgage from one person to another.

• Boundary:-The lines that define the perimeter of a property.

• Business day:-A standard day for conducting business excluding weekends and public holidays.

• Construction loan:-It is also called building loan. It may be short term or interim term loan for building.

• Certificate of occupancy:-A document issued by a local government to a developer permitting the structure to be occupied. This generally indicates that the building is in compliance with public health and building codes.

• Common law:-An unwritten body of law based on general custom in England and used to an extent in Australia.

• Deed:-A legal document conveying title to a property.

• Depreciation:-A decline in the value of property due to changes in market conditions or other causes.

• Deposit:-A percentage of purchase price given to bind the sale of real estate

• Estate:-The total of all the real estate and personal property held by a person at the time of his death.

• Land tax:-A state tax levied on the value of the property paid by property owner.

• Landlord:-A person who rents property to another i.e. the lesser.He gives it be used for some specified period in lieu of some money i.e. rent.

• Liabilities:-A list of debts owned.

• Loan:-A sum of borrowed money which is repaid with interest.

• Public housing:-Government owned housing made available to low group people at very low costs or nominal rents.

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