Real Estate
Land and anything permanently affixed to the land and those things attached to the building.

Realtor
Registered name for a member of the National Association of Realtors.

Realtor Associate
Salesperson associated with a broker who is a member of a Board of Realtors.

Recital
Setting forth in a deed or other writing some explanation for the transaction.

Recourse
The right of the holder of a note secured by a mortgage or deed of trust to look personally to the borrower or endorser for payment.

Redlining
The practice of refusing to provide loans or insurance in a certain neighborhood.

Refinancing
The repayment of a debt from the proceeds of a new loan using the same property as security.

Reissue Rate
A charge for a title insurance policy if a previous policy on the same property was issued within a specified period of time. Reissue is less than the original charge.

REIT (Real Estate Investment Trusts)
A method in investing real estate in a group, with certain tax advantages.

Recision of Contract
Annulling a contract and placing the parties to it in a position as if there had not been a contract.

Release
An instrument releasing property from the lien of the mortgage, judgment, etc.

RESPA (Real Estate Settlement Procedures Act)
A federal regulation that requires lenders and mortgage brokers to disclose to borrowers, in advance, the fees required to obtain a mortgage loan.

Revenue Stamps
Formerly, federal tax on a sale of real property. Canceled and replaced by state tax stamps.

Reverse Mortgage
A special program for the elderly that provides income until death. Payment requirements are arranged through the increase in the principal amount of the loan.