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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.
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WAIVE To relinquish, abandon or surrender. To voluntarily forego a right, claim or privilege to enforce or require anything.
WARRANTY DEED A deed used to convey real property in which the grantor warrants or guarantees that he is the legal owner and has the lawful right to sell, agreeing to pretect the grantee against lawful claims of third persons.
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