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 ABUTTERS Neighbors with a common boundary. ACCEPTANCE The seller's or agent's principal's act of agreeing to the terms of the agreement of sale, approving the negotiations on the part of the agent and acknowledging receipt of the deposit in subscribing to the agreement of sale. ACCRETION An addition to land from natural causes, such as from the gradual action of the ocean. ACKNOWLEDGEMNT A formal declaration before a duly authorized officer by a person who has executed an instrument that such execution is his free act and deed, and that his signature is valid. ACQUISITION The act of process by which a person procures property. ADMINISTRATOR The person appointed by the probate court to settle the estate of a deceased person who left no will behind. AD VALOREM According to valuation. ADVERSE POSSESSION The actual, continuous, notorious and visible possession and occupancy for the statutory period (usually ten (10) to twenty (20) years), under an evident claim or right in denial or opposition to the title to land or without the consent of the legal owner. AFFIDAVIT A statement or declaration reduced to writing and sworn to or affirmed before some officer who has authority to administer an oath or affirmation. AFFIRM To confirm; to aver; to ratify; to verify. AGENT One who represents another from who he has derived the authority to represent; an employee of a principal. AGREEMENT OF SALE The written agreement or contract whereby the purchaser agrees to buy and the seller agrees to sell according to the terms and conditions stated herein. ALIENATION The transfer of property and possession of lands or other things from one person to another. ALLUVION(ALLUVIUM) Soil deposited by accretion, such as the increase of earth on a shore or bank or a river. AMENITIES Qualities that increase the value of real estate, such as a beautiful view or a refined social environment. APPRECIATION An increase in value due to economic causes or inflation. APPURTENANCE Something annexed to another thing which may be transferred incident to it; Property rights which are attached though not strictly part of the land, but will go with the title to a new owner, such as easement, right of way, barn or orchard. ASSESSED VALUE Value placed on real estate by a public officer or board as a basis for taxation. ASSESSOR The official who has the responsibility of determining assessed value. ASSIGNMENT The written transfer or making over to another person of real or personal property, of any estate or right therein, in possession of in action. ASSIGNS,ASSIGNEES Those to whom property shall have been transferred. ASSUMPTION OF MORTGAGE The taking of title to property by a grantee wherein he assumes liability for the payment of an existing noted secured by a mortagage or deed of trust against the property, becoming a co-guarantor for the payment of the mortgage or deed of trust note. ATTACHMENT Seizure of property by court order and placing it in the custody of the law, usually done to have it available when a judgement is obtained in a pending suit to settle debts. ATTORNEY-IN-FACT One who is authorized to perform certain acts for another under a power of attorney. AVULSION The sudden tearing away or removal of land from one owner to another by action of water flowing over or through it, such as occurs when a stream changes its course.