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

HOTEL - A building or group of attached or detached buildings containing dwelling or lodging units in which 50 percent or more of the units are lodging units, usually distinguished by a front desk, dining and other common facilities

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.

IMPLIED WARRANTY OF HABITABILITY - A legal doctrine imposing on the landlord a duty to make the leased premises acceptable to live in and ready for occupancy and to continue to maintain them in a state of repair throughout the entire term of the lease

Michael & Cindy Morris
Keller Williams Realty, Gulf Coast
Michael (727) 251-7447
Cindy (727) 480-8427
FAX (727) 397-5978

Contact Us
ocean@tampabay.rr.com

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Keller Williams Realty, Gulf Coast
13800 Park Blvd.
Seminole, FL 33776