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 PARTNERSHIP The contract of two or more persons to unite their property, labor and/or skill in the conduct of some joint lawful business and to share the profits in certain proportions. PARTY WALL A wall on the line between two adjoining properties belonging to both parties for their joint use. PAR VALUE Market value; nominal value. PATENT a conveyance of title to government land. PERCENTAGE LEASE A lease of property in which the rental is based on a percentage of the tenant's sales made upon the lease premises. Common in malls. PERCOLATION TEST A soil test for drainage. PLOT BOOK a plan book showing the location, size and owner's name for each plot of land within the area covered. PLEDGE The deposit of personal property by a debtor with a creditor as security for a debt or arrangement. PLOTTAGE The increase in value which one large of parcel of land enjoys over and above the sum of the values of lots standing alone. POWER OF ATTORNEY A written instrument authorizing a person to act as the agent of the person granting it and the power authorizing the agent to act in behlaf of the principal. PRESCRIPTION Acquisition of title by adverse possession. PRIMA FACIE Presumptive on its face. At first sight; before closer inspection. PRINCIPAL The employer of an agent. PRIVITY The mutual relationship to the same rights or property. PROPERTY The right or interest which a person has in lands and chattels to the xclusion of all others. PURCHASE MONEY MORTGAGE A trust deed or mortgage given by the buyer to make a down payment on property or as part of the purchase price.