The voluntary surrender or relinquishment of possession of real property with the intention of terminating one's possession or interest, but without vesting this interest in any other person.

In an investment property, the money left over each year after deducting all operating expenses and debt service from the gross income.

A process typically used in a judicial foreclosure jurisdiction in which the underlying defaulted borrower directly transfers title of the mortgaged property to the lender to avoid the foreclosure process and to satisfy the underlying loan obligation.

A relationship which implies a position of trust or confidence wherein one is usually entrusted to hold or manage property or money for another. Among the obligations a fiduciary owes to the principal are duties of loyalty; obedience; full disclosure; the duty to use skill, care and diligence; and the duty to account for all monies.

A legal process designed to provide a means for creditors to safeguard for themselves the personal property of a debtor which is in the hands of a third party ("garnishee").

A construction specialist who enters into a formal construction contract with a land owner or master lessee to construct a real estate building or project.

A deed in which the grantor fully warrants good clear title to the premises. Also called a general warranty deed.