Words, Phrases & Definitions



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W

Waive - To release or abandon a right or a privilege.

Waiver - The act of releasing or abandoning a right or a privilege.

Warranty Deed - A deed containing express covenants as to good title and right to possession.

Waste - Destruction or injury to real property.

Water Right - The right of an owner of land to use water adjacent to or below the surface of the land.

Wrap-Around Mortgage - Same as an "all inclusive mortgage": One incorporating the balance due under a prior mortgage.