Real Estate Glossary O

Click on the beginning letter of the real estate term to find the definition.

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

Open-End Clause: A clause that permits the outstanding balance of the loan to be increased by the borrower under the provisions outlined in the agreement.

Open End Deed of Trust or Mortgage: A trust deed or mortgage that secures not only that original debt but also future advances made after the date of the trust deed or mortgage.

Option: A contract that gives one party the right to enter some type of contract upon specified terms with another party.

Owner Financing: A type of financing in which the seller of a tangible item accepts a promissory note as a portion of the purchase price. Also called seller financing.