Frequently Confused Words in Practice

admin 2019.06.05 19:45 Views : 782

1.    Agreement – Contract
 
2.    Contingency – Covenant
 
3.    Addendum – Amendment
 
4.    Color of Title – Cloud of Title
 
5.    Lien – Encumbrance
 
6.    CID (Common Interest Development) – PUD (Planned Unit Development)
 
7.    Condominium Ownership – Cooperative Ownership
 
8.    Common Interest – Common Element
 
9.    Proprietary Lease – Apartment Deed
 
10.           Variance – Nonconforming Use
 
11.           Foreclosure – Forfeiture
 
12.           Cooperating Agent – Subagent
 
13.           Acknowledgement – Affidavit 
 
14.           Capitalization Rate – Recapture Rate
 
15.           Letter of Intent – Memorandum
 
16.           Front-End Ratio – Back-End Ratio
 
17.           Discount Points – Origination Fee
 
18.           Annual Interest Rate – Annual Percentage Rate
 
19.           General Warranty Deed – Special Warrant Deed
 
20.           Novation – Substitution
 
21.           Subject to Mortage – Assumption of Mortgage
 
22.           Subordination – Subrogation
 
23.           Pledge – Hypothecation
 
24.           Conforming Loan – Jumbo Loan
 
25.           Purchase Money Loan – Hard Money Loan
 
26.           Blanket Mortgage – Package Mortgage
 
27.           Acceleration Caluse – Alienation Clause
 
28.           Rental Agreement – Lease Agreement
 
29.           Renewal of Lease – Extension of Lease
 
30.           Assignment of Leaae – Sublease
 
31.           Leased Fee – Leasehold
 
32.           Security Deposit – Earnest Money Deposit
 
33.           Surrender of Lease – Abandonment of Lease
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361 Consideration admin 2019.07.07 323
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359 Open-End Mortgage admin 2019.06.05 303
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