BOB HAAS

BOB HAAS

PUTTTING YOU FIRST

glossary of terms

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ABANDONMENT - The voluntary surrender or relinquishment of possession of real property with the intention of terminating one's possession or interest, but without vesting this interest in any other person.

ABATEMENT - A reduction or decrease in amount, degree, intensity or worth.

ACCEPTANCE - Voluntarily agreeing to the price and terms of an offer. Offer and acceptance create a contract.

ACKNOWLEDGEMENT - A written declaration by a person executing an instrument, given before an officer authorized to give an oath (usually a notary public), stating that the execution is of his own volition.

ACRE - A measure, usually of land, equal to 160 square rods (43,560 sq. feet) in any shape.

ACT OF GOD - Damage caused by nature (floods, winds, etc.) rather than destruction by man.

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