PantryA Pantry is a dedicated storage space within a residential property used primarily for holding food items, kitchen supplies, and(...)
Parcel NumberParcel Number Definition In Residential Real Estate
A Parcel Number is an identifying label assigned by a local government authority(...)
Partially FinishedPartially Finished Definition In Residential Real EstatePartially Finished describes a residential property area that includes some(...)
Passive SolarPassive Solar Definition In Residential Real EstatePassive Solar describes a residential design approach that uses a home’s(...)
PaydownPaydown Definition In Residential Real EstatePaydown refers to the reduction of an outstanding loan balance through payment applied(...)
Pellet StovePellet Stove Definition In Residential Real Estate
A Pellet Stove is a residential heating appliance that burns compressed biomass(...)
Per Diem InterestPer Diem Interest Definition In Residential Real EstatePer Diem Interest refers to interest that accrues on a residential real estate(...)
Perc TestPerc Test Definition In Residential Real Estate
A Perc Test is an evaluation used to determine how effectively soil absorbs and drains(...)
Periodic RatePeriodic Rate Definition In Residential Real EstatePeriodic Rate refers to the interest rate applied to a loan balance for a(...)
Permeable PavingPermeable Paving Definition In Residential Real EstatePermeable Paving refers to a type of ground surface material designed to(...)
Personal LiabilityPersonal Liability Definition In Residential Real EstatePersonal Liability refers to an individual’s legal responsibility for(...)
Personal PropertyPersonal Property Definition In Residential Real EstatePersonal Property refers to items of property that are movable and not(...)
Personal Property DocumentationPersonal Property Documentation is the process of recording and preserving information about movable items located within a(...)
Personal Property TaxesPersonal Property Taxes Definition In Residential Real EstatePersonal Property Taxes are taxes imposed by a taxing authority on(...)
Pest Inspection
A Pest Inspection is a professional evaluation of a property conducted to identify the presence or evidence of insects, rodents, or(...)
PHIUS+PHIUS+ Definition In Residential Real EstatePHIUS+ is a residential building performance certification standard that focuses on(...)
Photovoltaics Seller OwnedPhotovoltaics Seller Owned Definition In Residential Real EstatePhotovoltaics Seller Owned describes a residential property(...)
Photovoltaics Third-Party OwnedPhotovoltaics Third-Party Owned Definition In Residential Real EstatePhotovoltaics Third-Party Owned describes a residential property(...)
Piggyback LoanPiggyback Loan Definition In Residential Real Estate
A Piggyback Loan is a residential real estate financing structure that uses more(...)
Planned DevelopmentPlanned Development Definition In Residential Real Estate
A Planned Development is a type of residential land use arrangement in which(...)
POAPOA Definition In Residential Real Estate
A POA is a governing organization formed to manage, regulate, and maintain a residential(...)
PointsPointsPoints Definition In Residential Real Estate Financing
Points are upfront charges paid in connection with residential real(...)
Portfolio LenderPortfolio Lender Definition In Residential Real Estate
A Portfolio Lender is a lending institution that originates residential real(...)
PossessionPossessionPossession Definition In Residential Real EstatePossession describes the lawful right to occupy and exercise physical(...)
Post-Disaster RecoveryPost-Disaster Recovery is the phase of residential property ownership that begins after a damaging event has occurred and focuses on(...)
Power of AttorneyA Power of Attorney is a legal instrument that authorizes one person to act on behalf of another in specified matters. The person(...)
Power Purchase AgreementPower Purchase AgreementPower Purchase Agreement Definition In Residential Real Estate
A Power Purchase Agreement is a contractual(...)
Pre-Disaster PreparednessPre-Disaster Preparedness is the practice of taking proactive steps to protect residential property and ownership interests before a(...)
Pre-Wired for RenewablesPre-Wired for RenewablesPre-Wired for Renewables Definition In Residential Real EstatePre-Wired for Renewables describes a(...)
PreapprovalPreapprovalPreapproval Definition In Residential Real EstatePreapproval is a lender’s written indication that a prospective buyer(...)
Prepayment PenaltyPrepayment PenaltyPrepayment Penalty Definition In Residential Real Estate
A Prepayment Penalty is a contractual provision that(...)
PrequalificationPrequalification is an initial assessment used by a lender to estimate how much a borrower may be able to borrow based on self(...)
Prescriptive EasementPrescriptive EasementPrescriptive Easement Definition In Residential Real Estate
A Prescriptive Easement is a legal right to use a(...)
Prime RatePrime RatePrime Rate Definition In Residential Real Estate
The Prime Rate is a benchmark interest rate used by lenders as a reference(...)
PrincipalPrincipalPrincipal Definition In Residential Real EstatePrincipal refers to the original amount of money borrowed or invested in a(...)
Principle of ProgressionPrinciple of ProgressionPrinciple of Progression Definition In Residential Real Estate
The Principle of Progression is a real estate(...)
Private EasementA private easement is a legal right granted to a specific individual, group, or property owner to use a portion of another person’s(...)
Private Mortgage InsurancePrivate Mortgage InsurancePrivate Mortgage Insurance Definition In Residential Real EstatePrivate Mortgage Insurance is a(...)
ProbateProbate is the legal process through which a deceased person’s estate is formally administered and distributed under court(...)
Probate SaleA Probate Sale is a real estate transaction in which property owned by a deceased person is sold under the authority and supervision(...)
Promissory NotePromissory NotePromissory Note Definition In Residential Real Estate
A Promissory Note is a written legal instrument in which a(...)
Proof of ClaimProof of ClaimProof of Claim Definition In Real Estate And Bankruptcy Context
Proof of Claim is a formal written statement filed by a(...)
Proof of LossProof Of Loss is a formal statement used in real estate and property ownership to document and describe damage to a residential(...)
Property-Assessed Clean EnergyProperty-Assessed Clean EnergyProperty-Assessed Clean Energy Definition In Residential Real EstateProperty-Assessed Clean Energy is(...)
Property Damage AssessmentProperty Damage Assessment is the process of evaluating and documenting the extent of damage affecting a residential property after a(...)
Property FraudProperty fraud is a broad term used to describe deceptive or illegal activities that target property ownership, property records, or(...)
Property ReportProperty ReportProperty Report Definition In Residential Real Estate
A Property Report is a compiled document that summarizes key(...)
Property TaxProperty TaxProperty Tax Definition In Residential Real EstateProperty Tax is a mandatory charge imposed by a local government on(...)
Property Tax AppealsProperty Tax AppealsProperty Tax Appeals refer to the formal process by which a property owner challenges the assessed value(...)
Property Tax DeductionProperty Tax DeductionProperty Tax Deduction Definition In Residential Real EstateProperty Tax Deduction refers to the ability of a(...)
Property Tax LienProperty Tax LienProperty Tax Lien Definition In Residential Real Estate
A Property Tax Lien is a legal claim placed on real estate(...)
Property ValueProperty ValueProperty Value Meaning In Residential Real EstateProperty Value describes the monetary worth assigned to real estate(...)
Proprietary LeaseProprietary LeaseProprietary Lease Definition In Residential Real Estate
A Proprietary Lease is a legal agreement that grants a(...)
Prudent Investor RuleThe Prudent Investor Rule is a legal standard that requires a person managing assets on behalf of others to invest and manage those(...)
Punch ListPunch ListPunch List Definition In Residential Real EstatePunch List refers to a detailed record of remaining tasks, corrections, or(...)
Purchase-Money MortgagePurchase-Money MortgagePurchase-Money Mortgage Definition In Residential Real Estate
A Purchase-Money Mortgage is a financing(...)
Purchase PricePurchase PricePurchase Price Definition In Real Estate Transactions
Purchase Price is the agreed amount a buyer pays to acquire real(...)
Purchase & Sale AgreementPurchase & Sale AgreementPurchase & Sale Agreement Definition In Real Estate Transactions
A Purchase & Sale Agreement is a legally(...)
Pyramid RoofPyramid Roof
A Pyramid Roof is a roof style characterized by four equal sloping sides that rise from the walls of a structure and meet(...)
