Category: Glossary

Assignor | The person who makes an assignment to another person.

Assignment | The method by which a right or contract is transferred from one person (the assignor) to another (the assignee).

Assignee | The person to whom a transfer of interest is made. Hence an assignee of an Agreement of Purchase and Sale may buy the property and enforce the contract in the same fashion as the original party.

Assessor | A municipality employee who estimates the value of properties for the purpose of taxes.

Arrears | Generally, being overdue in an installment payment.

Appreciation | The difference between the increased value of the property and the original value.

Appraise | To fix or set a price or value upon.

Appraisal | A valuation or an estimation of value of property by disinterested persons of suitable qualifications; the process of ascertaining a value of an asset or liability that involves expert opinion rather than explicit market transactions.

Amortization | The repayment of a debt in installments.

All-Inclusive Deed of Trust | A form of deed of trust that, in addition to any other amounts actually financed, includes the amounts of any prior deeds of trust. Sometimes referred to as a wrap-around or over-riding trust deed.