Real Estate Glossary Terms Beginning With – M

Updated: November 22, 2021

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Terms Beginning With - M

Property Development & Investment Glossary, Terms & Definitions

Maintenance

Activities necessary to restore a property's normal wear and tear.

Maintenance fee

An owner's association charges a fee to cover the costs of running the property.

Mall

A shopping centre's covered public space that connects individual retail establishments.

Management contract

The agreement between a property owner and a management business that specifies the management company's responsibilities, duration, and fees.

Managing partner

The partner who makes the decisions and carries the majority of the risk in a limited partnership.

Marginal property

Property that is just marginally profitable to operate.

Marginal tax rate

The tax rate that is applied to the last dollar of income.

Market analysis

Supply and demand economic dynamics and their effects on real estate profits, risks, and valuations are studied.

Market approach

An assessment approach that determines the worth of a property by comparing it to the market value of similar structures sold recently in a comparable market location.

Marketable title

A title that is devoid of flaws.

Market research

The investigation of market circumstances in a certain location.

Market risk

Because of changes in the marketplace's economic conditions, there's a chance that net operating income will fall short of forecasts.

Market value

A qualified buyer's pricing range for a property.

Master lease

A lease with a lot of power.

Maturity

The deadline for repaying a debt.

Mechanic's lien

For non-payment of a labour or material debt, a lien is issued.

Meeting of the minds

An agreement reached by all contracting parties.

Merchant's Association

A group of merchants at a shopping mall formed to promote the tenants' companies.

Metes and bounds

The boundary lines of a parcel of land, as well as their terminal points and angles, are described in a land description.

Millage

One-tenth of a penny is a rate used by municipal taxing bodies.

Mini-warehouse

A warehouse that provides business and domestic users with tiny storage facilities.

Mixed-use project

At least two distinct types of real estate developments are engaged in this proposed development.

Mobile home

Supply and demand economic dynamics and their effects on real estate profits, risks, and valuations are studied.

Mobile home park

A factory-built home on a permanent foundation that is linked to local utilities and is situated on a set lot.

Model unit

A piece of land used to build mobile homes.

Month-to-month tenancy

A representative unit in a building that is meant to show how the area will look in the future.

Mortgage

A month-to-month leasing arrangement that can be terminated at any time.

Mortgage banker

A legal document used to ensure that a debt or obligation is paid.

Mortgage broker

A mortgage lender who originates, sells, and services loans.

Mortgage commitment

A person who specialises in putting together a borrower and a lender for a fee.

Mortgage correspondent

A person who will charge a fee to originate and service a loan.

Mortgagee

A person who has a lien on a property as collateral for a loan.

Mortgage insurance

A type of insurance that protects a lender from any financial loss caused by a mortgagor failing on a loan.

Mortgage lien

A mortgage encumbrance is a lien on a property that is used to finance a loan.

Mortgage note

The debt is described, as well as the mortgagor's vow to pay it back.

Mortgage REIT

A real estate investment trust (REIT) is a company that invests in real estate and loans money on it.

Mortgage release

On the mortgage note issued by the mortgagee, there is a disclaimer of any further obligation.

Mortgagor

A person who promises property as collateral for a loan.

Mullion

Metal strips that run the length of a window line at regular intervals. They're made to receive a wall divider in such a way that the connection is seamless and soundproof.

Multi-family housing

A residential construction that has more than one living unit.

Glossary Index

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