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  Real Estate Glossary  
Rabbet A method of joining or fitting together wood by cutting a deep groove in one piece to allow the other to be fitted against it.
Radiant Heating A method of heating, usually consisting of coils, or pipes placed in the floor, wall, or ceiling.
Rail (1) A horizontal bar, such as the cross member of a fence. (2) Tracks on which a train runs.
Ramp (1) An inclined, concrete or wooden path, used instead of steps. (2) A roadway used as an entrance or exit to a limited access highway.
Ranch style house Modernly, any one story house is called a ranch style. A true ranch style house is rambling, with low pitched table roofs, and an interior of open design.
Real Assets Real estate or Real property owned by an individual or business.
Real Estate (1) Land and anything permanently affixed to the land, such as buildings, fences, and those things attached to the buildings, such as light fixtures, plumbing and heating fixtures, or other such items
Real Estate Broker Generally, any person, co-partnership, association or corporation who for compensation or valuable consideration sells or offers for sale, buys or offers to buy, or negotiates the purchase, sale or ex
Realty Real Estate.
Redemption Buying back ones property after a judicial sale.
Reit A “ Real Estate Investment Trust” is a business trust which deals principally with interest in land generally organized to conform to the internal revenue code, Section 857 (U.S.)
Release Deed An instrument executed by the mortgagee or the trustee reconveying to the mortgagor or trustor the real estate which secured the loan after the debt has been paid in full.
Remodeling Improving a structure by changing its plan, characteristics, or function, as opposed to reconditioning.
Rent Consideration paid for the use and possession of a property.
Rental Agent One who (for a fee) aids a landlord to find a tenant, or a tenant to find property. Generally concerned with residential property and may not require a real estate license (or may require a special li
R.E.O. Real Estate Owned. Term used by lending institutions describing repossessed properties they currently hold.
Repairs The general upkeep of property, without major replacement or change of the plan or characteristics of the building.
Repurchase An arrangement between the investor and the syndicate and /or syndicator indicating that under certain conditions, at the option of the investor, the syndicate and /or the syndicator will repurchase t
Residential Building Rate The rate of residential construction in a given area. Determined by housing starts per 1000 population.
Residential Property Land designated by zoning ordinances as “ residential”. May be vacant or improved.
Resort Property Generally, any property where people would go for purposes of fun and vacations. In some states the term may have legal significance, and regulations may exist regarding advertising and selling Proper
Retaining Wall A wall used to contain or hold back dirt, water, or other materials of a similar nature.
Revenue Stamps Formerly federal tax on the sale of real property. Cancelled and replaced by state tax stamps. The stamps (similar to postage stamps) are affixed to the conveyancing instrument (deed), or a rubber sta
Ridgeboard The highest horizontal member of a roof, running along the ridge, and receiving the refters at right angles.
Right-Of-Way A privilege operating as an easement upon land, whereby the owner does by grant or by agreement, give to another the right to pass over owners land, to construct a roadway, or use as a roadway, a spec
Right Title and Interest A term used in deeds to denote that the grantor is conveying all of that to which grantor held claim.
Rod A unit of linear measure equal to 16 ˝ feet
Roman Bath A bathroom constructed to resemble the public baths of ancient Rome. Usually includes a large sunken tub and a use of marble or marble-like tiles as the principal covering of the floors, vanities, etc
Roman Brick Brick which shows a narrower face than standard building brick.
Roofs In real estate, the covering of real property, to protect it from the elements. In general , a roofing structure includes a (usually)wood base, o top of which would be laid a felt or similar layer, a
Room A Fully enclosed section of the interior of a building, having access through a door or doorway. In residential property, rooms are described specifically, such as living room, dining room, etc.
Room Count The number of rooms in a residential property. There is no national method of counting but, generally, bathrooms are specified and counted separately.
Row Houses A method of construction of individual houses with common side walls and a common roof. Modernly called townhouses.
Rule of 72 A widely applied mathematical formula that permits the investor and his investment advisor to determine how much financial assets must grow to realize a given investment objective within prescribed ti
Rule of 78 A widely applied mathematical formula for assessing a penalty for prepayment of an add-on or discounted contract. The effect of the rule is such that if a loan is paid off before maturity, the lender
Rural Referring to the country, as opposed to urban, concerning the city.
Registration The process of registration is governed by The Registration Act, 1908 which empowers the State Government to appoint an officer or the rank of Inspector General of Registration and to form districts a
Registration Procedure 1. For registration of any instrument, the original document should be typed/ printed on one side only, and submitted along with two photocopies of the original to the Registering Officer. The copies
Rack-Rent A rent representing the full, or nearly the full, letting value of a property on a given set of terms and conditions.
Rateable Value The figure upon which property tax is charged in India. This value is determined by the tax authorities and thereafter the tax liability is charged to the owner(s) of the property on the basis of cert
Real Estate Agent A person licensed to negotiate and transact the sale of real estate on behalf of the property owner.
Refurbishment Improvement and modernization of a building falling short of rebuilding or redevelopment and thus not normally requiring planning permission (Other than for alterations to the external appearance), ex
Registration and Mutation It is mandatory for the sale deed of all high value property transaction to be registered at the regional sub register’s office of the local municipal authority. Thereafter, the buyer has to apply for
Rent free period An agreed period, usually for several weeks or months, during which a lessee is allowed to occupy the subject premises without payment of rent. a) In consideration for the tenant incurring expenditur
Rentable Area The area of floor space for which rent is calculated even though other areas, within or outside the premise, are lawfully used by the tenant. For example, in an office building, it is customary to exc
Rental Advance Comprises a lump sum payment to the landlord at the beginning of the lease term, which is thereafter adjusted in equal installments over the lease term against the monthly base rental payable by the t
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