Absolute title (full ownership)Absolute title is the same as a maximum hereditable property right for land ownership, or freehold. It is sometimes used to indicate the quality of a title, standing for final and guaranteed title.
Act of transactionWritten document provided to recipient that includes a statement about seller’s transfer of property rights and all interests in real estate.
Advance payment Advance payment is an amount of money or movable property issued to creditor by debtor towards payments owed by debtor under an agreement, as a proof of obligation and a security of its fulfillment.
AgreementAn agreement between the parties about terms of transaction.
Annual statementAn official financial document of a corporation’s financial condition. In monetary terms, the balance sheet reflects company’s assets, its debts, and the ownership of a company by its shareholders.
Annuity A repayment schedule for loan obligation, with payments set periodically in equal amounts at regular intervals.
Annuity paymentsMonthly payments under a loan obligation by a borrower that are calculated with annuity formula.
AssetSomething with a value and belonging to a natural person or a legal entity. It might be real estate and personal belongings.
Association of owners (condominium)Association of owners is a union of all owners of an apartment building or residential homes. The association of owners decides on operation and technical maintenance of common areas that are owned collectively and sets the rules of living in condominiums that belong to individual owners.
Authorized sharesthe maximum number of shares that the corporation is entitled to release. This amount is defined during the creation of corporations
Balance sheetA financial document that reflects composition and value of assets, liabilities, and registered capital.
BankruptcyInability to pay under debt obligations. Upon initiation of legal action by credit providers, forced bankruptcy is possible. Voluntary bankruptcy provides for ability of judicial protection from creditors. The so-called ‘Chapter 11’ of the United States Bankruptcy Code allows corporations conducting their business with the purpose of reorganization and holding talks of debt restructuring.
Basis pointUsed for calculation of yield on bonds. As a rule, one basis point constitutes 1/100 of a percent.
BeneficiaryA recipient of money under a letter of credit, insurance, or income on property managed by power of attorney.
Bid and asked priceA bid price is the highest price a buyer is ready to pay for a real estate property. An asked price is the lowers price at which a seller is ready to sell.
Block tradeBlock trade, or a block order, is an order or trade submitted for the sale or purchase of a large quantity of securities (usually 10,000 shares of stock or more).
BrokerBroker is a person carrying out operations related to purchase, sale, exchange or lease of a real estate property, receiving payment for this in form of wages, broker’s fees or any other remuneration, and paying taxes of the income received. A broker might act directly or indirectly, occasionally or regularly.
BrokerageA remuneration to broker for serving as an intermediary agent for a purchase or sale.
Broker’s contractA contract under which one party (an agent) obliges to conduct legal and other actions for remuneration and by order of another party (a principal) on the agent’s behalf but at cost of the principal, or on behalf and at cost of the principal.

In real estate, it is an agreement under which a buyer hires a real estate agent (broker) for search of a certain type of property or the rights for it; or under which a seller hires a broker for search of a buyer for his owned property or the rights for it.
Broker’s contractUnder such contract, one party (‘agent’) obliges to conduct certain activities by order of another party (‘principal’) for remuneration. The activities are usually of legal or related nature and paid for by the principal or on behalf of and at cost of the principal.

In real estate sector, this is an agreement under which a buyer hires a real estate agent to conduct search for certain kind of a real estate facility or the rights for it; or a seller hires a real estate agent to find a buyer for his owned real estate property or the rights for it.
Buyer's marketA market where buyers can negotiate extremely favorable terms and prices. As a rule, it is caused by general economic situation or oversupply of a certain type of land tenure in the region.
Buying priceA price of the buyer (buy price, asked price).
Change of title Change of title is a duly executed certificate of purchase and sale, exchange, gift, inheritance, or withdrawal.
CondominiumA legal form of ownership under which a facility is divided into units of individual property and units of joint property.
ContractAn agreement between two or more persons of establishment, amendment, or termination of rights and obligations.
Contracting partyAn agent of a buyer and an agent of a seller. The contracting party defends the interests of its client by communicating with its counterpart, the contracting party of a seller. Their goal is to find the best way to transfer the right of ownership with the lowest risks possible, distriibuted equally between the parties.
Corporate entityAn organization that has been formed and registered in a manner as stipulated by law.
Counter purchaseCounter purchase occurs when sellers make it a condition that an alternative housing is bought simultaneously with the sale of an apartment. This happens if sellers have no additional apartment to move to, or if the property is owned by an underage person, or if sellers are afraid to put money in escrow. After the crisis, a large number of apartments for direct sale have appeared on the market. It is quite difficult to find a buyer who would wait until sellers agree on their counter option.
Custodian bankCentralized storage of securities. Computer system allows for significant reduction in physical move of certificates.
DealActivities of citizens and legal entities aimed at establishment, amendment or termination of civil rights and obligations. Note: the said activities might be stipulated by the law or not stipulated by the law, but do not contradict it.
DealerA financial company or an individual conducting buys and sells of securities, but not as an agent. Dealer’s remuneration (brokerage) is a difference between purchase price and selling price.
Deposit (advance payment)Deposit (advance payment) is money paid in advance against future payment for the purchase of an apartment. A seller receives a deposit prior to the acquisition transaction. It’s important to validate the deposit with a special deposit agreement instead of a simple acquittance, which agreement includes the conditions of the advance payment and a return in case one of the parties fails to fulfill its obligations. The advance payment differs from a holding deposit: if a transaction fails due to the seller, he will be obliged to return the amount in full under the deposit agreement. In case with holding deposit, the seller is obliged to return double the amount.
DepreciationFinancial accounting of expenses, both paid and future, conducted with the purpose of reduction of cost of fixed value in order to reduce tax payments.
DeveloperDeveloper is an entrepreneur that generates profit by creating real estate facilities. For this purpose, the developer acts as a) the author of the project, defining what should be constructed and where; b) the buyer of the land plot for the construction; c) the organizer of the project development by licensed project engineers; d) the hirer of the customer (licensed), the general contractor (with a license for fulfilling of functions of the general contractor), the brokers for sales of the newly constructed facility, and property managers (if needed). The developer finances the project on its own or attracts investments if needed.
DevelopmentThe process of a facility construction.
Direct saleThere is no need to buy another housing simultaneously with selling of an apartment. No one is registered in the apartment, or owners have a place to move. This is the best option for a buyer, with minimal risks of collapse of a deal.
Dividends accruedDividends accrued are those due since the most recent payment of bond dividends. When buying such bonds, the buyer pays its market value plus the value of the accrued dividends.
DonationUnder a donation agreement, one party transfers a chose into another party’s ownership without compensation, or transfers a proprietary right (for instance, a right for salary could be donated), or exempts from liability to anyone (for instance, transfers a debt to itself).
Exercise priceThis is a buy or sell price as specified in a contract.
FacilityFacility is a unit of real estate or a part of it formed with the use of legally prescribed procedure and registered as a single legal object.

Note. A certain real estate facility is characterized by features that allow identifying it among similar facilities.
Fair market valueLegal term defined as money price agreed between seller and buyer, who are ready to close the transaction and act bona fide, consciously, and without pressure from outside.
Fiscal land registerInventory established for tax purposes.
Fiscal yearIs an accounting year for a company. An accounting period can start on any day of any month. Most of companies have calendar year as their fiscal year.
Foreign exchange dealerForeign exchange dealer is a member of a stock exchange who supports an established securities market. A dealer buys and sells stocks at his/her own expense and acts as a broker for commission brokers. A dealer is obliged to place clients’ interests ahead of his/her own.
FuturesContracts that define delivery date and volume of any product (tangible or financial). The U.S. futures market’s top popular goods are agricultural products – wheat, corn, meat, coffee, etc.
General layoutIs an acting functional zoning plan of a territory, officially approved by local authorities.
Government bondsGovernment bonds are guaranteed by the government and deemed the most reliable U.S. securities. Credibility of the government relies on the possibility of increasing taxes and credence in the stability of the government and the state system.
HedgingA set of strategies that allow minimizing possible financial losses. It includes buying of sales contract, secured options, and the like.
Holding companyA company or a corporation that owns a majority stake of other companies.
Housing spaceThe total of all residential spaces in the territory of a country or its region, regardless of type of ownership.

Note: The structure of housing space inclusive of type of ownership is regulated by the Housing Code of Ukraine.
Identification of a real estate unit A complex of technical and legal procedures that ensure identification of the property’s individual characteristics and assigning it with a cadastral number.
Note: In the process of identification of a real estate unit, description and individualization of the property are conducted.
IndemnityA contract providing for compensation of damage to an individual, which damage resulted from an act, an error, or an event.
IndexA statistical indicator, index is not a price of security.
Individual (natural person) Individual is a citizen (or a stateless person) entitled in the manner prescribed by the law with the rights to own, acquire and dispose of property and able to perform related duties, sue and be sued in court.
InsiderA person whose status grants him/her access to financial and other important information not available for the public. Purchases and sales of securities conducted by insiders are strictly regulated, registered, and published.
Institutional investor An organization with activities focused on investments. Institutional investors include retirement funds, insurance companies, and banks.
Investing Using money with the purpose to gain more money for revenue increase or capital increase.
Investment banker (underwriter) An intermediary between security issuing corporation and the public. A group of bankers often composes a selling group.
Investment banker (underwriter) An intermediary between security issuing corporation and the public. A group of bankers often composes a selling group.
Investment trustIn the real estate sector, it is often a closed-type trust. Shares of such trusts usually pay high dividends.
InvestmentsInvesting money with the purpose of receiving profits or revenues; property that had been bought with the purpose of receiving profits or revenues.
LandownerLandowner is a natural person or a business entity that owns, uses, and disposes of real estate property as stipulated by law.
Lease Lease is an agreement that transfers the right of use and exclusive possession of the property from property owner to tenant, without transferring the right of property ownership, for an agreed period of time in exchange for lease payments.
Lease contractAn agreement stipulating for a lease holder to provide his/her housing in temporary possession and use to a renter and his family for certain amount of money and certain period of time. The renter obliges to use the property in compliance with the contract and to make lease payments in time, including utility charges.
Lease contractA document granting exclusive right to use, possess or dispose of land from one person to another for a period of time, a term, usually for rent payment. A person who grants the lease (leases) is called a landlord (property owner or lessor), and the person who is granted the lease is called a tenant, a renter, a leaser, or a temporary owner.
Lease rateLease rate is a price for office lease exclusive of taxes.
Legal lienLien is a liability towards a property that makes it a guarantee of a debt payment, a legal judgement, a mortgage, or tax payment; it is a type of encumbrance. A special legal lien is set against a certain property; a general lien is set against the entire property of a debtor.
MarginMargin is an amount of money or securities transferred as a mortgage to a broker company with the purpose of obtaining a loan.
Market lease rateMarket lease rate is a current lease rate that has set on the market of a certain type of real estate.
Market valueMarket value is a price in money or money equivalent that a buyer and a seller ready for a transaction agree upon. None of them is in straits, both are well-informed and act in their best interests. A market value is the most probable selling price for any interest in real property (such as property right, a right to perpetual lease, etc.) on an open market, given that 1) sellers and buyers act reasonably but do not possess absolute knowledge; 2) buyers and sellers act in competitive circumstances in their own interests to maximize their profit or meet their needs in the best way; 3) buyers and sellers act independently from each other, i.e. without price fixing, fraud, or distortion; 4) buyers and sellers have normal (typical) motives, i.e. they do not act under illegal pressure; 5) the settlement of a transaction is conducted in manner that meets market standards, and the buyer appliers typical financial conditions adopted by a local market.
MarketingMarketing is a system of administration of entrepreneurial activities aimed at profit maximization and based on information about market demands.

Note. Marketing requires compliance with the following principles while making economic decisions: consideration of needs, condition, and dynamics of demand and state of the market; adaptation of a business to long-term demands of the market; active influence upon clients (e.g., by means of advertising) with the purpose of creating the necessary demand.
MortgageMortgage is 1) real estate mortgage. This is collateral for an obligation with a real estate property providing that a lender (mortgagee) has the right to obtain satisfaction with the mortgaged property in case of the debtor’s (mortgagor’s) default; 2) a property-secured loan.

Mortgage lending stipulates for registration of relationship between creditor and debtor in special legally binding documents as well as certificates of ownership rights of the debtor for the mortgaged property.
Mortgage agreementLegally certified credit contract against security of immovable property.
Municipal developer A department of municipal housing (including management of municipal housing) with competence in construction of public housing and formation of homeowners’ associations of waiting list persons with the purpose of creation of condominiums.
Net changeNet change is a difference between closing price on current day and closing price on previous day.
Non-residential propertyNon-residential property is a property that is allowed by current legislation to be used for any purposes except for residential. Non-residential property includes public, industrial and agricultural buildings, including manufacturing, energy, warehousing and other facilities.
NotificationNotification means notifying the option seller that the option holder is demanding delivery of securities as provided by contract.
OfferAn offer is a proposal to conclude a contract with essentials.

Note. An offer can be made orally or in writing.
Open-end investment companySuch company uses its capital for investments in other companies (see Mutual funds). Capitalization of such companies is not fixed, and its stock is not registered on a stock exchange.
OwnershipOwnership is holding a thing under one’s powers or control together with a desire to exercise control.
Ownership, land possession; terms and conditions of ownershipThis includes a range of rights possessed by an individual owner in regards to his/her property and is the same as estate: 1) an estate; 2) a property. There exist numerous ways of possessing a property, one of which is lease. The term “ownership” is not referred to in the old feudal manner but in a modern one, stipulating for the way how a person ‘holds’ a property.
PermutationPermutation is an agreement that stipulates for two parties to exchange one unit of property for another.
PledgePledge is applied to a loan extension. A pledge is a limited right to enter into possession of a certain share of borrower’s property provided to lender as a guarantee of the loan repayment. If the borrowing party is unable to repay the loan under the terms of the contract or in any other way violates its obligations, the lending party may seize the pledge through a legal process called the deprivation of the ownership rights.
Power of attorneyPower of attorney is a document authorizing a representative to make transactions or conduct other lawful activities on behalf of another person (a principal).
Price increaseThis is increase of a market price for fixed capital.
Price without registration A price of an apartment not including fees for notarization and official registration of the alienation agreement.
Primary marketa market in which the agreement on sale of equity participation in the construction of new homes and new apartments in already handed over houses in which no one has ever lived. The advantages of these apartments is that they new communication, the price is often lower, and in some cases can make the finishes to your liking, besides they have not had a previous owner and, therefore, reduces the legal risks of litigation. The lack of new homes are usually built in areas still underdeveloped transport, unimproved land, the lack of infrastructure (schools, kindergartens, hospitals, trade), also did not immediately set free. Guarantee the success of a commercial firm selling the equity contract, no one can not give. We have to rely on her reputation, if she could emerge
Property examination certificateProperty examination certificate is a document proving the fact of the real estate property examination by possible acquirer that indicates the date of the examination, the address of the facility, and its short description. The act is signed during the examination by the party who desires to buy the facility and the party providing information about it and organizing the examination.
Property rightsthe discretion to possess, use and dispose of any property, transfer his powers to another person to use the property as collateral or exchange it in other ways, to transfer their property to the ownership or control of another person, as well as perform with respect to his property any actions not contrary to law
Property valueProperty value means capital investments (including overhead costs and financial charges) into land, workforce, and materials needed for construction of the property. The property value is 1) an amount of money, goods, or services that the property can be exchanged for; 2) current value of future income rights or benefits provided by the property.
Property, property lawProperty law is a share of property rights of a person in a property, or a property itself.
Proprietorship Anything covered by right of ownership.
Purchase and sale agreement A bilateral non-gratuitous contract stipulating for one party (seller) to transfer a chose (goods) in ownership of another party (buyer), and obliging the buyer to accept the goods and pay certain amount of money for it.
Put and call optionPut and call option is a position when options for share purchase and for share sale are bought simultaneously. Such position might be profitable during high market fluctuations.
Rallyrevival of demand, often accompanied by an increase in prices and an increase in the sales volume
Real estatea term used in relation to land and structures on it, and only to the ground. Real estate - land and all that is firmly connected with them, such as: buildings, businesses, and other property complexes, perennials. Real property is defined as property, movement of which is possible without compromising its purpose
Real estate conveyanceConveyance is a legal document confirming the transfer of a real estate property between two parties.
Real estate marketReal estate market is a system used to transfer real estate rights and related interests.
Real estate market agentReal estate market agent is an individual or a legal entity conducting legal activities aimed at transfer of rights to immovable property and related interest.
Real estate market infrastructureThe set of institutions whose activities create organizational and legal environment that ensures the functioning of subjects of the real estate market.
Real estate property Real estate property is land without improvements or with improvements that are inextricably linked to it, i.e. buildings, structures, parts thereof, as well as other property that is connected with the real estate under the legislation.
Real property assetsThis is money equivalent of collection of rights for real estate ownership.

Note. The collect of rights includes the right of ownership, the right of use, the right of full economic management, the right of appropriation of income from the ownership and use of property, and other rights stipulated by the legislation.
Registering propertya set of technical and legal procedures for the registration of immovable property in the cadastre offices and documents, including, if necessary, the procedure of cadastral survey with registration of the relevant documents
Rent and rentpayments for the use of real estate
Residential property Residential is property with established rights of ownership, use and disposal. Such property is equipped with technical infrastructure providing for its residential ability under existing norms.

Residential property includes residential houses, dorms, apartments and other buildings that meet the above requirements.
Root of titleRoot of title is a document containing full legal and fair share of the rights to be sold which defines the property and does not contain anything that could cast doubts on the title.
Sales taxSales tax for transfer of property is a tax charged by local authorities one time at property transfer between two individuals. The sales tax is usually a fixed percent of market value of the transferred property.
Secondary mortgage marketThis is a market where first mortgages can be bought and sold. The market allows money lenders sell their loans prior to date of their full repayment.
Secondary public offering Secondary public offering is re-allotment of shares after their initial offering that is held outside the stock exchange.
Servient estate Servient estate is land burdened with certain rights, e.g. easement.
Settlement of transactionThis is conclusion of transaction on purchase or sales of securities under which a client pays for and/or delivers securities for purchase or sales.
Stock exchangeStock exchange is a centrally managed place where securities are traded.
Tax assessmentA process of evaluation of property with the purpose of taxation.
Tenancy (leasehold tenure)Property ownership rights that relate to a lessee (tenant, leaseholder), as opposed to the lessor (owner, owner of the property).
Termination of optionThe date of contract termination.
Third partyA third party is a party not involved in a deal or contract directly but that might get involved or affected by them. For instance, an owner is selling a property used by a condominium. The tenants as a third party should either move out or buy apartments after the end of the lease. Another example is an entrusted third party appointed as escrow agent by the sides to the transaction.
Title documents Documents that confirm a title to land.
Title plan A specially drafted plan designating borders for registration purposes.
UnderwritingUnderwriting is an assessment of a borrower’s financial solvency by a bank.
Uptick An uptick is a transaction that occurs at a higher price than the previous transaction.
VoucherVoucher is a supportive disbursement document.