Like many other industries, the real estate industry has its own unique language and vocabulary. Without some knowledge of this specialized language, you may find yourself a bit confused if you become involved in a real estate transaction.

Whether entering the real estate market for the first time or if you have invested before, this handy reference will provide an understanding of basic real estate words and phrases.

Hereditaments – Any and all kinds of estates, interest and rights in real estate that can be inherited.

Homeowners Insurance – Real Estate insurance protecting against loss caused by fire, some natural causes, vandalism, etc., depending on the terms of the policy. Also includes coverage such as personal liability and theft away from home. Sometimes referred to as “Hazzard Insurance”.

HUD (Department of Housing and Urban Development) – The federal department responsible for the major housing programs in the United States.