HOME ABOUT CONTACT FEES F. A. Q. GLOSSARY ACRONYMS LAWS LINKS Like any industry, real estate has its own jargon. Some of the terms are peculiar to the Philippines. And a lot of the words may be already familiar to you, but will have a slightly different meaning or emphasis when used by real estate professionals.

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z BACKFILL The replacement of excavated earth in a hole or against a structure. BASE AND MERIDIAN Imaginary lines used by surveyors to find and describe the location of private or public lands. BENCH MARKS Durable markers used by surveyors to mark boundary locations; or the locations indicated on such durable markers by surveyors. BENEFICIARY (1) One entitled to the benefit of a trust; (2) One who received profit from an estate the title of which is vested in a trustee; (3) The lender on the security of a note and deed of trust. BEQUEATH To give, hand down, or leave by a will. BEQUEST That which is given by the terms of a will. BETTERMENT A government improvement that adds to the value of real estate, such as sidewalks or sewerages. BILL OF SALE The formal document used in transferring title to personal property. BINDER An agreement to cover part or all of the down payment in buying real estate. BLANKET MORTGAGE A single mortgage which covers more than one parcels of real estate. BLIGHTED AREA A declining area in which real property values are seriously affected by destructive economic forces, such as encroachment in harmonious property usages, infiltration of lower social and economic classes of inhabitants and/or rapidly depreciating buildings. BREACH The breaking of a law or failure of duty, either by omission or by commission. BROKER A person hired by another for a fee to assist in the transfer or interests in real estate REAL ESTATE BROKER Any person, natural or juridical, who is an agentof another person and for or in expectation of a fee, commission of other valuable consideration, shall perform any of the following acts: offers, advertises, solicits, lists, promotes, mediates, negotiates or effects the meeting of the minds on the sale, purchase, exchange, mortage or lease of, or joint venture or other transactions in real estate or any interests therein. BUILDING LINE The line fixed by law at a certain distance from a street line or from the front and sides of a lot beyond which no building may be erected. (Building lines are setback lines.)