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Real Estate Glossary

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Habitable

Residential properties that are suitable for occupancy. Local building codes ensure that structures are habitable through requirements for building permits and occupancy certificates.

Heir

The person who is the lawful inheritor of an estate or a property.

High Rise

In the Central Business District, it means a building higher than 25 stories above ground but in suburban areas, it generally refers to buildings 7 or 8 stories high.

Holding Deposit

An initial sum of money given to show interest in or confirm the sale of a real estate property before the full deposit is paid.

Home Improvement Loan

A loan made to a homeowner in which the home is used as collateral for the loan.

HVAC

Modern day technology systems installed in a building to regulate heating, air conditioning and ventilation.

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