Real Estate Glossary Terms

• Land Reclamation

  The process of upgrading unusable land through making physical improvements. For example, swamp land can be drained and filled in order to make it usable. Barren land can be reforested by planting and nurturing seedling trees. ...

• Regency House

  English-style home. It is usually 2-stories high. The roof is of a hip type. The chimney is on the side of the home. ...

• Conditional Binding Receipt

  Same as term Conditional Receipt: evidence of a temporary contract obliging a life or health insurance company to provide coverage as long as a premium accompanies an acceptable application. This gives the company time to process the application and to issue or refuse a policy, as the case may be. I ...

• Interest Rate Change Risk

  One of four types of risks used by the society of actuaries (SA) to determine a life insurance company's overall risk profile when fluctuations in interest rates result in abnormal cash inflows or outflows causing positive or negative investment implications. ...

• Unauthorized Reinsurance

  Reinsurance ceded to an insurance company that is a non admitted insurer. ...