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Glossary of terms used on this site

There are 214 entries in this glossary.
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Term Definition
Sale-leaseback

A technique in which a seller deeds property to a buyer for a consideration, and the buyer simultaneously leases the property back to the seller.

Second mortgage

A mortgage that has a lien position subordinate to the first mortgage.

Secured loan

A loan that is backed by collateral.

Seller carry-back

An agreement in which the owner of a property provides financing, often in combination with an assumable mortgage.

Subordinate financing

Any mortgage or other lien that has a priority that is lower than that of the first mortgage.

Survey

A drawing or map showing the precise legal boundaries of a property, the location of improvements, easements, rights of way, encroachments, and other physical features.

Sweat equity

Contribution to the construction or rehabilitation of a property in the form of labor or services rather than cash.

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