Real Estate Terms - V


Vacany Rate - The percentage of currently vacant property in a given area, regardless of the reason why the are unoccuppied.

Valuation - The latest sale price or estimated worth of an asset.

Variance - an exception to the current municipal zoning regulations allowing for the non-conforming use of the land for a specific period of time.

Vent Pipe - a pipe that allows gas to vent, preventing a build up.

Vent Stack - the portion of a vent pipe that protrudes from the roof.

Veranda - term for a covered porch that runs the length of one side of a home.

Vested - the right to use a portion of a fund, like an IRA. Usually vesting occurs over time in percentage increments.

Vestibule - term for an entrance hall or short passage between the outer door and the interior of a building.

Voluntary Alienation - the tranfer of the title of an asset with the consent of the owner.

Voluntary Lien - a recorded claim done with the consent of the owner.

Real Estate Glossary