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 REALTOR A licensed real estate broker who is an active member of any affiliated organization of the Philippine Association of Real Estate Brokers, and who is pledged on his honor to abide by the Golden Rule of Ethics in dealing with his clients and fellow brokers, with the authority of the Association holding him to his pledge, thus insuring the best possible service to the public, kuno. RECONVEYANCE The transfer of the title of land from one person to the immediate preceeding one. REDEMPTION Reclaiming or buying back one's property within the statutory period of time after losing it at a judicial sale. REFORMATION An action to correct a mistake in a deed or other document. REGISTRAR OF DEEDS Government agency in charge of issuing and transferring titles. RELEASE CLAUSE The stipulation that upon the payment of a specific sum of money to the holder of a trust deed or mortgage, the lien of the instrument as to a specific described lot or area shall be removed from the blanket lien on the whole area involved. REMAINDER ESTATE An estate created to follow another and limited to begin upon the termination of the companion estate, such as the remainder estate that follows a life estate. RESCISSION The revocation, cancellation, or annulment of a contract by the mutual consent of the parties to the contract or for cause by court order. RESERVATION A right retained by a grantor in conveying property. RESTRICTIVE COVENANT An agreement limiting the use of property. REVERSION The right to future possesion or enjoyment by the person creating the preceding estate, or his heirs. REVERSIONARY INTEREST The interest which a person has in lands or other property upon the termination of the preceding estate. RIGHT OF SURVIVORSHIP the right to acquire the interest of a deceased joint owner, which is a distinguishing feature of a joint tenancy. RIGHT OF WAY A prvilege operating as an easement upon land but an encumberance upon the owner who, by grant or by agreement, gives to another the right to use his land, such as to pass over it, to construct a roadway over it, to install electric, telephone, telegraph power lines or to place water, gas, sewer pipes underground.