Real Estate Glossary "B" Flashcards
Balloon Mortgage Payment
A large payment during the term of a mortgage, often at the end.
Beneficiary
The person who receives or is to receive the benefits resulting from certain acts.
Bequeath
To give or hand down by will; to leave by will.
Bequest
That which is given by the terms of a will.
Bill of Sale
A written instrument given to pass title of personal property from vendor to vendee.
Binder
An agreement to cover the down payment for the purchase of real estate as evidence of good faith on the part of the purchaser.
Blanket Mortgage
A mortgage covering more than one property. A blanket mortgage is often used for subdivision financing.
Blockbusting
The practice of inducing homeowners in a particular
neighborhood to sell their homes quickly, often at below market prices, by creating the fear that the entry of a minority group or groups into the neighborhood will cause a precipitous decline in property values
Bona Fide
In good faith, without fraud.
Bond
The evidence of a personal debt which is secured by a mortgage or other lien on real estate.
Building Code
Regulations established by state or local governments stating fully the structural requirements for building.
Building Line
A line fixed at a certain distance from the front
and/or sides of a lot, beyond which no building can project.
Building Loan Agreement
An agreement whereby the lender
advances money to an owner primarily in the erection of buildings. Such funds are commonly advanced in installments as the structure is completed.
Building Permit
Written governmental permission for the construction, renovation or substantial repair of a building.
