| A | B |
|---|
| Closing Costs | Fees and charges associated with the purchase of a property |
| Depreciation | Decrease in the value of an asset associated with the decline in its remaining useful life |
| Down Payment | Portion of the purchase price that is not borrowed |
| Equity | Monetary value of a property minus the amount owed on the property |
| Homeowner's Association Dues | Monthly or yearly fees that pay for the maintenance of shared areas and necessary repairs throughout the community |
| Homeowners Insurance | Covers damage or loss of the structure and contents, plus liability in case others are injured on the property |
| Landlord | The person who owns the property |
| Leasing | Renting a product while ownership title remains with the lease grantor |
