Asbestos A fire-resistant mineral used for insulation and home products that has been found to pose a health hazard. The purchase or sale of a property in its existing condition. A seller's initial price for a property. A tax assessor's determination of the value of a home in order to calculate a property tax . The estimated value of a piece of real estate or a levy placed on property in addition to taxes.
Assessment rolls A list of taxable property compiled by the assessor.
Assets Items of value, such as cash, real estate, securities and investments. Assignor A person who transfers rights and interests of a property. Back to top Assumable mortgage A mortgage that can be transferred to another borrower. A provision that allows a buyer to take responsibility for the mortgage from a seller. A fee the lender charges to process new records for a buyer who assumes an existing loan.