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V
VA Guarantee - An insurance contract in which the Veterans Administration (VA) insures that the named lender will recover a specific percentage of the loan amount from the insurer in the event the loan goes bad.
Variable Rate Mortgage - A loan in which the interest rate fluctuates with the cost of funds or some other index.
Vendee - A purchaser of real property under land contract.
Vendor - A seller of real property under land contract.
Vest - To pass to a person an immediate right or interest. Title may be said to vest in John Smith.
Vestee - A nonlegal term used by title insurers to indicate the owner of real property in a policy or report.
W
Warranty - A promise by the grantor of real property that he or she is the owner and will be responsible to the buyer if title is other than as represented.
Will - A written document providing for the distribution of property owned by a person after his or her death.
X
There are no X terms.
Y
There are no Y terms.
Z
Zoning - The right of a municipality to regulate and determine the compatible character and use of property.
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