Property Tax
Property tax is an ad valorem tax that an owner pays on the value of the property being taxed.
There are three species or types of property: Land, Improvements to Land (immovable manmade objects; i.e., buildings), and Personal (movable manmade objects). Real estate, real property or realty are all terms for the combination of land and improvements. The taxing authority requires and/or performs an appraisal of the monetary value of the property, and tax is assessed in proportion to that value.

Real Estate Broker
A real estate broker is a term which describes a party who acts as an intermediary between sellers and buyers of real estate and attempts to find sellers who wish to sell and buyers who wish to buy.

Real Estate License
In most jurisdictions in the US, a person is required to have a license in order to r eceive compensation for services rendered as a real estate broker. Unlicensed activity is illegal, but buyers and sellers acting as principals in the sale or purchase of real estate are not required to be licensed.

Realtor®
The National Association of Realtors (NAR), whose members are known as Realtors, is North America's largest trade association.
NAR also functions as a self regulatory organization for real estate brokerage.
NAR's membership is composed of residential and commercial real estate brokers, real estate salespeople, immovable property managers, appraisers, counselors, and others engaged in all aspects of the real estate (immovable property) industry, where a state license to practice is required. Members belong to one or more of some 1,600 local Realtor boards or associations. They are pledged to a code of ethics and standards of practice, which includes duties to clients and customers, the public, and other Realtors.

Riparian Rights
Riparian water rights (or simply riparian rights) is a system of allocating water among those who possess land about its source.
Under the riparian principle, all landowners whose property is adjacent to a body of water have the right to make reasonable use of it. If there is not enough water to satisfy all users, allotments are generally fixed in proportion to frontage on the water source. These rights cannot be sold or transferre d other than with the adjoining land, and water cannot be transferred out of the watershed.
Riparian rights include such things as the right to access for swimming, boating and fishing; the right to wharf out to a point of navigability; the right to erect structures such as docks, piers, and boat lifts; the right to use the water for domestic purposes; the right to accretions caused by water level fluctuations. Riparian rights also depend upon "reasonable use" as it relates to other riparian owners to ensure that the rights of one riparian owner are weighed fairly and equitably with the rights of adjacent riparian owners.
A local dock builder/marine contractor can be of great help in assisting clients that are interested in using their waterfront. See www.bmidocks.com

Short Sale
The lender allows a property to be sold for less than the amount owed on a mortgage and takes a loss.
While this describes the basic scenario of a short sale, it is important to understand that lenders have no obligation at all to consent to a short sale nor do lenders have any kind of obligation to even consider or respond to a short sale offer in a specified amount of time.
They can be tricky, lengthy and often times rather frustrating.

Square Foot (sqft)
The square foot is an imperial unit / U.S. customary unit (non-metric) of area, used mainly in the United States and United Kingdom. It is defined as the area of a square with sides of 1 foot (0.333... yards, 12 inches, or 0.3048 meters) in length.
(A rough conversion from sqft. to square meters is the result of dividing the amount of square feet by 11.)

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