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Real estate vocabulary

Pennsylvania Real estate glossary

Plain-English definitions, exam tips and examples.

P

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