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Welcome > Resources > Real Estate Dictionary - A
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Waiver |
The relinquishing of a right |
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Warranty |
A guarantee provided to the purchases regarding
the quality of appliances or fixtures sold
Also a promise by the grantor of
a piece of property that he or she is responsible to the buyer if the title of
ownership is defect in any way |
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Warranty deed |
A document conveying ownership of a property
that guarantees a clear, clean title |
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Will |
A written document stating how an individual
chooses to have his or her property distributed after his or her
death |
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Wraparound loan or Wraparound
mortgage |
A method of refinancing which covers the
remaining balance on an existing first mortgage as well as the additional
amount of loan being requested by the mortgagor; full payments covering both
mortgages are made to the Wraparound mortgagee, who then forwards on the
portion of payment due to the first mortgagee |
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Radon >Detecting Elevated Radon Levels
Radon gas is a colorless, odorless, radioactive gas that can pose a serious health risk if it becomes trapped under your house. Radon typically enters the home via underground crawl spaces, sump pumps, gaps in the basement and even the water supply. It can pollute your indoor air with its toxic vapors, and is held responsible for more than 20,000 lung-disease-related deaths every year. Radon is assumed to be present in millions of American homes.
How do you detect the presence of radon gas, and how can you reduce its presence and influence if it is found in your home? First, have your home tested by a professional. Many contractors are licensed or certified by state and/or local agencies. They will conduct diagnostic testing to determine if radon gas is at acceptable levels. If levels are dangerous, the contractor can install a radon reduction system. Ask the contractor for references documenting the results of past work in other homes. Make sure the company checks the house after the system is installed, to verify that it is reducing the radon levels.
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| Q |
What 70-room East Coast mansion was built as a summer home and is known as a "Gilded Age cottage"?
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| A |
Cornelius Vanderbilt's "Breakers" Mansion in Newport, Rhode Island, named for the waves crashing along the cliff that separates the property from the ocean. |
 See More Real Estate Trivia > |
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