Glossary of Real Estate Terms

Real Estate Info & FAQs Accommodator — The company which holds Taxpayer’s funds between sale of the Relinquished Property and purchase of the Replacement Property. Amortization — the gradual elimination of a liability, such as a mortgage, in regular payments over a specified period of time. Such payments must be sufficient to cover both principal and interest. Assignment of agreements — an assignment of rights under specifically identified agreements (such as construction contracts, architect’s agreements, laundry services etc). Assignment of leases — an assignment of rights under specifically identified leases.