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Title endorsements expand the coverage of a standard owner’s title insurance policy, usually either by removing exceptions to the standard policy or by adding coverage specific to the property’s situation. For a more detailed understanding of common title insurance endorsements consult this guide.

Seller’s Net Sheet

A document that details the net proceeds a home seller can expect to make after factoring in closing costs and existing obligations. For a detailed guide to seller’s net sheets, consult this useful guide.


A final inspection of a home before settlement to search for problems that need to be corrected before ownership changes hands.

Transfer Taxes

Taxes levied on the transfer of property or on real estate loans by state and/or local jurisdictions.

Tenancy in Common

A form of ownership in which the tenants own separate but equal parts. To inherit the property, a surviving tenant would either have to be mentioned in the will or in the absence of a will, be eligible through state inheritance laws.

Shared Appreciation Mortgage

A loan in which partners agree to share specified portions of the down payment, monthly payment and appreciation.

Sales Contract

A contract between a buyer and seller which should explain, in detail, exactly what the purchase includes, what guarantees there are, when the buyer can move in, what the closing costs are, and what recourse the parties have if the contract is not fulfilled or if the buyer cannot get a mortgage commitment at the agreed-upon terms.


The resistance of insulation materials (including windows) to heat passing through it. The higher the number, the greater the insulating value.

Recording Fee

A charge for recording the transfer of a property, paid to a city, county, or other appropriate branch of government.