Halo Group Realty

Real Estate Glossary Terms

• Counterclaim

  Counter action by a defendant against a plaintiff. It is an independent action and just a denial of plaintiff's action. ...

• Prime Tenant

  Major tenant in an office building or shopping center. A prime tenant occupies more space than any other tenant in a commercial development. For example, in a 20-story office building, the national headquarters of a nationwide bank occupies 11 floors. ...

• Graduated Payment Mortgage (GPM)

  A mortgage on which the payment rises by a constant percent for a specified number of periods, after which it becomes fully-amortizing. ...

• Personal History

  Insurance applicant's life and health record, financial standing, driving record, general character, vocation, and habits. These factors are evaluated by a home office underwriter in classifying the applicant as insurable, preferred, extra-risk, or uninsurable. ...

• Waiver

  Relinquishment of a legal right to act. For example, an insured relies on statements of an agent of an insurance company concerning coverages under an insurance policy. Agents by their actions may have waived certain provisions the insurance company has written in the insurance policy, with the comp ...