The title industry has its own language. Many of its words and idioms are derived from the language of the law while others are common words given special meaning related to land titles. There are also words and phrases coined over the years by the title industry itself.
Glossary
N
National Association of Real Estate Boards. REALTY
Another name for real estate.
NEGLIGENCE
The omission of or failure to use reasonable precaution, care, or action.
NEGOTIABLE
Capable of being legally transferred by endorsement from one person to another, such endorsement carrying with it, without written provisions, implications of certain contractual obligations.
NET LISTING
The listing, with a broker, of real estate for sale for a specified price, net to the seller, exclusive of commission and closing costs.
NOTE
See Promissory Note.
