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Real Property Glossary -H-
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Habendum clauseThe "to have and to hold" clause that defines the quantity of the estate granted in the deed.
Half-bath
A half-bath contains a toilet and a sink but no bathtub or shower stall. (Also
called a powder room)
A house in fixer-upper condition.
Hardboard
A material made from wood fibers that is designed to simulate wood.
Wood that comes from deciduous trees such as oak, walnut and maple. Typically used for fine interior finishes.
Hazard insurance
Hazard insurance provides coverage for damage from items as fire and wind.
Mortgage lenders require coverage for at least the replacement value of the
home. (Also known as homeowner's insurance or fire insurance)
The top horizontal member in a door or window frame.
Header
A crossbeam above a window or door.
A component of a mechanical thermostat that shuts off the furnace or boiler just before the set temperature is reached to prevent overheating.
Heat pump
An electric cooling and heating system.
The equivalent of 2.471 acres.
Hiatus
A gap between two parcels of land that is not included in the legal description
of either property.
The concentration of housing units in a specific area or on a specific property.
High-rise
Any building taller than six stories.
A pitched roof with sloping sides.
Historic preservation
The physical rehabilitation of a historic home or building to protect landmark
property.
A home or building listed in the National Register of Historic Places and certified as historic by the U.S. Secretary of the Interior.
Hollow-core door
A door with a hollow interior.
Home equity line
An open ended line of credit based on a homeowner's accumulated equity.
A loan that allows owners to borrow against the equity in their homes however unlike a home equity line this product provides a defined amount at closing without an option to redraw in the future.
Home inspection
An examination of a home's condition by a licensed inspector prior to purchase.
A licensed professional who evaluates the structural soundness and operating systems of a residence.
Home price
The price agreed upon by a buyer and seller, usually based on an appraisal of
the house's market value.
Home rule
The power of a local government to adopt its own land-use regulations.
Insurance that includes coverage for any damages that may affect the value of a house, in addition to personal liability and theft coverage.
Homeowners Association (HOA)
A group that governs a subdivision, condominium or planned community. The
association collects monthly fees from all owners to pay for common area
maintenance, handle legal and safety issues and enforce the covenants,
conditions, and restrictions set by the developer.
Monthly payments due to a homeowners' association to be used for maintenance and communal expenses. Condominiums, townhouse complexes, and planned unit developments (PUDs) may require monthly homeowners' association dues.
Homeowners Warranty
A special insurance policy that covers certain home repairs for a specified
amount of time.
A parcel of land used by the owner as a primary residence.
Homesteading
A document used to protect some of a home's equity from lawsuits.
A term used to describe an area or neighborhood where the property types and uses are similar and compatible.
Hopper window
A window that contains a single sash that tilts inward.
A threaded faucet connection for devices such as a washing machine.
Hot wire
An ungrounded conductor that carries electrical current from the source.
A polyethylene barrier wrapped around a house to save energy.
Housing discrimination
The illegal practice of denying an individual or group the right to buy or rent
a home based on race, color, religion, national origin, sex, disability, or
family status.
The percentage of gross monthly income devoted to housing costs.
Hubbard clause contract addendum
A contingency that provides for a buyer to withdraw from a home purchase
agreement if he or she is unable to sell their own home within a fixed period of
time. The sellers must refund the deposit, thus it’s a total loss for the
sellers if the buyer doesn’t close on their house. They have to start over again
with another set of buyers.
HUD
Abbreviation of (the U.S. Department of) Housing and Urban Development. HUD is
a federal agency that oversees the Federal Housing Administration (FHA) and a
variety of housing and community development programs.
A closing statement or settlement sheet that outlines all closing costs on a real estate transaction or refinancing for the buyer and seller.
Humidistat
Device that measures the amount of water vapor in the air and turns a humidifier
or dehumidifier on and off accordingly.
HVAC
Acronym for heating, ventilation, and air conditioning.
