Real estate vocabulary

Real estate glossary

Plain-English definitions, exam tips and examples.

P

Principal Broker and Executive Broker (Arkansas)

(AR)

Public Report (Arizona Subdivisions)

(AZ)

Proposition 13 (California)

(CA)

Pyrrhotite and Crumbling Foundations (Connecticut)

(CT)

Psychologically Impacted Property (Delaware)

(DE)

Principal Broker and Broker-in-Charge (Hawaii)

(HI)

Psychologically Affected Property (Indiana)

(IN)

Psychologically Impacted Property (c.93 §114)

(MA)

Principal Residence Exemption (PRE)

(MI)

Proposal A and Uncapping

(MI)

Psychologically Impacted Real Property (Missouri)

(MO)

Property Condition Disclosure Statement (PCDS)

(MS)

Provisional Broker and Broker-in-Charge (North Carolina)

(NC)

Principal Broker Surety Bond (New Hampshire)

(NH)

Property Condition Disclosure Statement (New York PCDA)

(NY)

Provisional Sales Associate (Oklahoma)

(OK)

Psychologically Impacted Property (Oklahoma)

(OK)

package mortgage

parol evidence rule

partially amortized loan

partition

party wall

percentage

percentage lease

periodic tenancy

personal property

physical deterioration

PITI

planned unit development

plat

plottage

point of beginning

police power

potential gross income

power of attorney

power of sale

preapproval

prepaid expense

prepayment penalty

prequalification

price fixing

primary mortgage market

principal

principal and interest

principal meridian

principal residence exclusion

prior appropriation

private mortgage insurance

probate

procuring cause

profit a prendre

progression

promissory note

property management agreement

proration

proration calculation

protected class

protection period

puffing

purchase agreement

purchase-money mortgage

Property Condition Disclosure Statement (South Dakota)

(SD)

Primary Residential Exemption (Utah)

(UT)

Prohibition on Dual Agency (Vermont)

(VT)

Property Transfer Tax and Clean Water Surcharge (Vermont)

(VT)