8/10/2023 0 Comments Tear down in real estate lingo![]() ![]() The abstract of title does not guarantee or assure the validity of the title of the property. ABANDONMENT – 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.ĪBATEMENT – A reduction or decrease in amount, degree, intensity or worth.ĪBSORPTION RATE – An estimate of the rate at which a particular classification of space – such as new office space, new housing, new condominium units and the like – will be sold or occupied each year.ĪBSTRACT OF TITLE – A concise, summarized history of the title to a specific parcel of real property, together with a statement of all liens and encumbrances affecting the property.
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