A GLOSSARY OF REAL ESTATE TERMS


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Word List Definitions
LIBOR
Laches
Land
Land and improvement loan
Land contract
Land economics
Land grant
Land improvements
Land lease
Land planning
Land residual technique
Land trust certificate
Land use planning
Land use regulation
Landlocked
Landlord
Landmark
Landscape architect
Landscaping
Late charge
Late date order
Latent defects
Lateral support
Lath
Law
Lawful object
Layout
Lead
Lead-based paint
Lease
Lease option
Lease with an option to purchase
Lease-purchase agreement
Leased fee
Leasehold
Leasehold estate
Leasehold improvements
Leasehold policy
Leasehold value
Legacy
Legal
Legal Person
Legal age
Legal capacity
Legal description
Legal notice
Legal residence
Legal title
Legality of purpose
Legatee
Lender
Less-than-freehold estate
Lessee
Lessor
Letter of commitment
Level-payment loan
Leverage
Levy
Liability
Liability insurance
Liable
License
License laws
License year
Licensee
Licensing examination
Lien
Lien theory states
Life cycle costing
Life estate
Life of loan cap rate
Life tenant
Like kind property
Limited appraisal
Limited liability
Limited partnership
Limited-access highway
Line of credit
Linear Foot
Lintel
Liquidate
Liquidated damages
Liquidated damages clause
Liquidity
Lis pendens
Listing
Listing agent
Listing agreement
Listing broker
Listing contract
Litigation
Littoral
Littoral rights
Livery of seisin
Load center
Load-bearing wall
Loan administration
Loan application
Loan closing
Loan commitment
Loan correspondent
Loan fee
Loan maturity
Loan origination fee
Loan term
Loan terms
Loan value
Loan-to-value ratio
Local Housing Authority, LHA
Localization of income
Location
Location quotient
Location, Location, Location
Lock-in clause
Log cabin
Long-range planning
Long-term capital gain
Loss
Lot
Lot and block
Lot line
Lot split
Louver
Love and affection
Low-ball offer
 You chose: Levy

1. The legal seizure of property to satisfy a judgment. 2. The imposition of a tax

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