Glossary
Vocabulary for
buyers.
Bookmark this and skim before you close. Every term a first-time land buyer runs into.
A
- acre
- A unit of area equal to 43,560 square feet.
- apn
- Assessor's Parcel Number — a unique ID assigned to a property by the county assessor.
E
- easement
- A legal right to use another's property for a specific purpose, such as road access.
F
- flood zone
- A FEMA-designated area indicating flood risk.
H
- hoa
- Homeowners association — an organization that governs a subdivision or community.
M
- mineral rights
- Ownership of the minerals beneath the surface of a property.
P
- perc test
- A soil percolation test used to determine whether a site can support a septic system.
T
- title insurance
- Insurance protecting the buyer against defects in property title.
W
- water rights
- Legal rights to use water from a source that touches or crosses a property.
Z
- zoning
- Local rules that dictate how land can be used and what can be built.
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