Real Estate Board
An organization whose members consist primarily of real estate professionals such as brokers.
Real Estate Syndicate
When partners (either with or without unlimited liability) form a partnership to participate in a real estate venture.
Real Property
Land and any capital improvements (e.g., buildings) erected on the property.
Realtor
A coined word which may only be used by an active member of a local real estate board, affiliated with the National Association of Real Estate Boards.
Rent
Compensation from tenant to landlord for the use of real estate.
Restriction
A restriction, often specified in the deed, on the use of property.
Revocation
An act of rescinding power previously authorized.
Rule of Thumb
A common or ubiquitous benchmark. For example, it is often assumed that each worker in an office will need approximately 250 square feet of space.
