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Dictionary

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Real Estate
Also called "real property," Real estate is land and anything permanently attached to it, including buildings, fences and other items affixed to the structure.

Real Estate Broker
A licensed real estate agent who represents a buyer or seller in a real estate transaction, in exchange for a commission.

Realtor®
A designation for a real estate professional who is a member of the National Association of Realtors and subscribes to its strict Code of Ethics.

Reconveyance
When a borrower completely pays off the mortgage, the title is transferred to them from the lender.

Recording
A public official responsible for keeping the records of all real estate transactions.

Refinancing
The process of substituting an older mortgage with a new loan that has better terms.