| A | B |
|---|
| Administrator | A person appointed by the Court to settle the estate of a person who dies without a will. The feminine form is Administratrix |
| Assessment | A local tax levied against a property for a specific purpose, such as a sewer or street lights. |
| Broker | An individual who is paid a commission for executing customer orders. Either a Floor broker who executes orders on the floor of the Exchange, or an Upstairs broker who handles retail customers and their orders. |
| Commodity | A commodity is food, a metal or another physical substance that investors buy or sell, usually via futures contracts. |
| Contract | A term of reference describing a unit of trading for a financial or commodity future. |
| Credit | The promise to pay in the future in order to buy or borrow in the present. The right to defer payment of debt. |
| Deed | A formal written instrument by which title to real property is transferred from one owner to another |
| Duration | A common gauge of the price sensitivity of an asset or portfolio to a change in interest rates. |
| Equity | The residual dollar value of a futures trading account, assuming its liquidation at the going market price |
| Escrow | Funds paid by one party to another (the escrow agent) to hold until the occurrence of a specified event, after which the funds are released to a designated individual |
| Foreclosure | A legal term applied to any of the various methods of enforcing payment of the debt secured by a mortgage, or deed of trust, by taking and selling the mortgaged property, and depriving the mortgagor of possession |
| Interest | The fee charged for using another's money or credit. It is expressed as a percentage rate over a period of time. Also, a share or title in property. |
| Lender | A company, institution or person that loans money to with the intention of a full repayment of the debt. |
| Liability | A financial obligation, or the cash outlay that must be made at a specific time to satisfy the contractual terms of such an obligation. |
| Liquidity | A market is liquid when it has a high level of trading activity, allowing buying and selling with minimum price disturbance |
| Mortgage | A loan secured by the collateral of some specified real estate property which obliges the borrower to make a predetermined series of payments |
| Offset | Elimination of a current Long or short position by making an opposite transaction |
| Partition | The forced division of land among parties who were formerly co-owners. |
| Premium | The price of an options contract; also, in futures trading, the amount the futures price exceeds the price of the spot commodity. |
| Principal | The basic element of the loan as distinguished from interest and mortgage insurance premium |
| Probate | Court process to prove a valid will. |
| Refinance | Obtaining a new mortgage loan on a property already owned. Often to replace existing loans on the property. |
| Shares | Certificates or book entries representing ownership in a corporation or similar entity |
| Stock | Ownership of a corporation which is represented by shares which represent a piece of the corporation's assets and earnings. |
| Tax | As applied to real estate, an enforced charge imposed on persons, property or income, to be used to support the State. |
