| A | B |
|---|
| apartment | more than one family living in separate units |
| condominium | more thatn one faily, each family owns its own walls and air space |
| cooperative | a person buys shares and owns his part of the property |
| single-family house | a custom built, home, modular, townhouse or kit house |
| mobile home | a single-wide or double-wide home |
| duplex | contains two separate living unit |
| residence hall | a living spce for college students |
| rent/lease | to pay a security deposit and monthly payments |
| buy | to purchase with cash or monthly payments through a mortagage |
| equity | ownership. the value of property owned |
| lease | a legal agreement by the landlord and tenant |
| lessee | A person who leases or rents a living space |
| lessor | a person owns a living space for rent |
| security deposit | money paid by the lessee in advance of renting to cover any damages |
| sublet | when a tenant finds snother person too live in his/her space |
| eviction | a legal notice to move out of a property |
| classified ads | newspaper ads showing homes for sale |
| earnest money | a deposit that a buyer is interested in buyin home |
| closing | the final step to purchasing a home |
| escrow | money in a bank accounty held in trust to pay the insurance and taxes |
| FHA loan | Federal housing authority |
| VA loan | Veterns Administration |
