Real Estate Glossary B

Find the definitions for the Real Estate Terms you need to know by clicking on the beginning letter of the word.

A C D E F G H I J L M N O P Q R S T U V W Y

Balance Sheet: A financial statement that shows a business' current financial condition, with assets on the left side and liabilities and net worth on the right side.

Balloon: The balance of principal that is due and owing in its entirety at a specified point in time, but in any event, less than the time required to fully amortize the debt.

Balloon Payment: A final installment payment, larger than previous installments, that pays off a debt.

Bankruptcy: A state of insolvency of an individual or organization. The inability to pay debts.

Beneficiary: The person or party entitled to recieve the benefits, or proceeds, of the life insurance policy upon the death of the insured person.

Beneficiary Statement: A statement by the holder of deed of trust stating the amount of the unpaid principal on the note and other information about the debt. The holder is required to give this statement upon payment of a small fee. Also called an offset statement or a bene statement.

Bill of Sale: A document used to transfer the title of certain goods from seller to buyer.

Blanket Mortgage or Blanket Trust Deed: A mortgage or deed of trust covering more than one piece of property. For example, it may cover an entire subdivision and provide for a partial reconveyance of individual lots as they are sold.