Recurring closing costs are the costs of closing a home purchase that represent the first of a series of payments that will the homeowner must make over time. Recurring costs may include the prepaid interest, homeowners’ association (HOA) fees,...
property & real estate law
redeem
Redeem has multiple definitions:
In bankruptcy, the debtor’s right to repurchase property they previously owned but another acquired in a forced sale by a creditor. 11 U.S.C. § 722 lays out the process through which a debtor may redeem property...redlining
Redlining can be defined as a discriminatory practice that consists of the systematic denial of services such as mortgages, insurance loans, and other financial services to residents of certain areas, based on their race or ethnicity....
reentry
Reentry has multiple meanings in a legal sense, both related to property:
1) The repossession of real property by a previous landholder with a future interest in the property who holds the right to repossess the property should the current...
register of deeds
A city or county government office where one can file real estate documents in the public records. Most are deeds, mortgages, liens, and leases. The specific officer charged with maintaining the register of deeds is referred to as the...
Registry of deeds
See Register of Deeds.
[Last updated in April of 2021 by the Wex Definitions Team]
REIT
The acronym REIT stands for Real Estate Investment Trust, a company whose business is to own, operate or finance income-producing real estate in different sectors of the economy. For example, warehouses, office buildings, apartments, shopping...
reliction
The increase in land caused by the gradual recession, shrinkage, or change in course of a body of water (such as a lake, sea, or river) which gives the owner of the riparian property more dry land. Reliction is classified as a type of a...
relinquished property
In a 1031 exchange, the real property the investor is selling to defer recognition of gains from the sale as taxable income. A reference to relinquished property is made in § 1031(a)(3) of the Internal Revenue Code, which requires that the property...
remainder
A remainder is a future interest in real estate that is transferred to the transferee or remainderman under property law. The remainderman has the ability to possess the property at the natural end of a previous property formed by the same...