Real Estate Glossary

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Implied: Not expressed in writing; presumed or inferred. 

Income Property: Property which produces income from residential or commercial rentals and profits attributable to real estate other than rent.

A writ or order issued under the seal of a court to restrain one or more parties to a suit or proceeding from doing an act which is deemed to be inequitable or unjust in regard to the rights of some other party or parties to the suit. 

Installment Note:
A note stating a certain amount that must be paid on the dates specified in a legal contract.

A legal document in writing to create, alter, modify or terminate a right; contract

Interest Rate:
The percentage of a sum of money charged for its use.

Money put in property or other ventures with the expectation of making a profit, with sufficient security to return and protect the capital; not speculation. 

Involuntary Conveyance: Sheriff's deed; tax deed.

Involuntary Lien: A lien imposed against property without consent of owner. Examples: taxes, assessments, federal income tax liens, judgments, etc.