There are 22 names in this directory beginning with the letter H.
A clause included after the granting clause in many deeds; it begins "to have and to hold" and describes the type of estate the grantee will hold.
Habitability, Implied Warranty of
A war_ranty implied by law in every residential lease, that the property is fit for habitation.
Hard Money Loan
A loan that is underwritten with the condition and value of the property as the primary criteria for approval. Secondary issues may include the credit of the borrower, the ability of the borrower to repay the loan and/or the ability of the borrower to manage the property or successfully complete a rehab and sell the property. Owner occupancy, debt ratios and other issues are seldom a factor. Appraisals rather than purchase prices are used to determine value. Cash out purchases are often allowed
Insurance to provide compensation if the improvements are damaged or destroyed. It is almost always a requirement of loans.
Tangible property, real or personal, that can be inherited; property with physical substance, such as a car or a house.
Intangible prop_erty, real or personal, that can be inherited, such as an easement appurtenant or accounts receiv_able.
Highest and Best Use
The use which, at the time of appraisal, is most likely to produce the greatest net return from the property over a given period of time.
One party agrees to in_demnify and protect the other party from inju_ries or lawsuits arising out of a particular transaction. In a lease, the lessee agrees to hold harmless the lessor from claims of third parties for damage resulting from the lessee's negli_gence.
Holder in Due Course
A person who obtains a negotiable instrument for value, in good faith, without notice that it is overdue or notice of any defenses against it.
A tenant who remains in possession of leased property after the expiration of the lease term.
Home Equity Loan
In the most literal sense, this expression applies to virtually all loans (first mortgages and second mortgages, fixed and adjustable interest rates, credit lines and fully amortizing loans, etc.) placed on an owner occupied property when the loan-to-value after the Home Equity Loan closes is no higher than 100%. That is, it is a loan secured by the available equity of an owner occupied residential property.
Homeowner Association (HOA)
An organization of the homeowners in a particular subdivision, planned unit development, or condominium created to enforce deed restrictions and manage common elements of the development.
Status provided to a homeowner's principal residence by some state statutes to protect the home against judgments up to specified amounts.
In some jurisdictions a reduction in the assessed value allowed for one's personal residence.
A state law that provides lim_ited protection against creditors' claims for homestead property.