HABENDUM CLAUSE - That part of the deed beginning with the words
"to have and to hold," following the granting clause and
reaffirming the extent of ownership that the grantor is
transferring.
HABITABLE - Being fit to live in. The residential landlord has
an obligation to keep the leased premises in a habitable
condition.
HEIR - A person who inherits under a will or a person who
succeeds to property by the laws of descent if the decedent dies
without a will (intestate).
HIGHEST AND BEST USE - That use which, at the time of appraising
the property, is most likely to produce the greatest net return
to the land and/or the building over a given period of time.
HIGH RISE - A popular expression for a condominium or apartment
building generally higher than six stories.
HOLD HARMLESS CLAUSE - A clause inserted in a contract whereby
one party agrees to indemnify and protect the other party from
any injuries or lawsuits arising out of the particular
transaction.
HOLDOVER TENANT - One who stays on the leased premises after his
lease has expired. The landlord normally has the choice of
evicting the holdover tenant or permitting him to remain and
continue to pay rent.
HOMEOWNER'S ASSOCIATION - A non-profit association of homeowners
organized pursuant to a declaration of restrictions or
protective covenants for a subdivision, a PUD, or a condominium.
HOMESTEAD - A home which is used as a personal residence.
HOUSE RULES - Rules of conduct adopted by a board of directors
of a condominium and designed to promote harmonious living among
the owners and occupants.
HUD - A federal cabinet department officially known as the
Department of Housing and Urban Development.
HYPOTHECATE - To pledge specific real or personal property as
security for an obligation, without surrendering possession of
it.
Buy a Salem Utah Home
