The highest price that a willing buyer would pay, and the lowest price a willing seller would accept.

Federal National Mortgage Association. A private corporation dealing in the purchase of first mortgages.

The absolute ownership of a parcel of land. The highest degree of ownership that a person can have in real estate, which gives the owner unqualified ownership and full power of disposition.

A federal agency that insures first mortgages, enabling lenders to lend a very high percentage of the sale price.

A mortgage having a rate of interest that remains the same for the life of the mortgage.

Personal property that is attached to real property and is legally treated as real property while it is so attached. Examples: medicine cabinets, window blinds and chandeliers.

A legal proceeding in which real estate secured by a mortgage or deed of trust is sold to satisfy the underlying debt.

The fraudulent signing of another's name to an instrument such as a deed, mortgage or check.

Federal Home Loan Mortgage Corporation. A federal agency that purchases both conventional and federally insured first mortgages from members of the Federal Reserve System and the Federal Home Loan Bank System.

Government National Mortgage Association. A federal association working with the FHA that offers special assistance in obtaining mortgages and purchases mortgages in the secondary market.

To bestow or confer, with or without compensation, a gift such as land or money by one having control or authority over the gift.

One to whom a grant is made.

One who makes a grant.

Real estate insurance protecting against fire, some natural causes, vandalism, etc., depending upon the policy. Buyer often adds liability insurance and extended coverage for personal property.

Any and all kinds of estates, interest and rights in real estate that can be inherited.