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The Public Land Survey System ( PLSS) is the surveying method developed and used in the United States to plat, or divide, real property for sale and settling. Also known as the Rectangular Survey System, it was created by the Land Ordinance of 1785 to survey land ceded to the United States by the Treaty of Paris in 1783, following the end of ...
Here are 15 real estate terms you need to know. Real Estate Agent Professional who represents the seller (listing agent) or buyer (buyer’s agent) in a real estate transaction.
A multiple listing service ( MLS, also multiple listing system or multiple listings service) is an organization with a suite of services that real estate brokers use to establish contractual offers of cooperation and compensation (among brokers) and accumulate and disseminate information to enable appraisals.
Fred Sed, Neighbor. Posted Fri, Jul 18, 2014 at 5:00 am PT. As a long time Orange County Real Estate company we’ve frequently used the term PITIA during the process of helping buyers to find ...
Subdivision (land) Subdivisions are the act of dividing land into pieces that are easier to sell or otherwise develop, usually via a plat. The former single piece as a whole is then known as a subdivision. Subdivisions may be simple, involving only a single seller and buyer, or complex, involving large tracts of land divided into many smaller ...
Getty By Trulia Home-buying and selling is stressful — and with industry acronyms and real estate terms flying at you from all directions, you may feel overwhelmed navigating your new real ...
Mortgage – According to Principles and Practices of New Jersey Real Estate a mortgage is “an instrument in writing which, when recorded, creates a lien upon property pledged as security for ...
The National Association of Realtors (NAR) is an American trade association for those who work in the real estate industry. As of December 2023, it had over 1.5 million members, making it the largest trade association in the United States including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries.
Metes and bounds is a system or method of describing land, real property (in contrast to personal property) or real estate. The system has been used in England for many centuries and is still used there in the definition of general boundaries.
The Metropolitan Transportation Authority (MTA) provides local and express bus, subway, and commuter rail service in Greater New York, and operates multiple toll bridges and tunnels in New York City. The Metropolitan Transportation Authority ( MTA) is a public benefit corporation responsible for public transportation in the New York City ...