Glossary of Real Estate Terms "I"

Like many other industries, the real estate industry has its own unique language and vocabulary. Without some knowledge of this specialized language, you may find yourself a bit confused if you become involved in a real estate transaction.

Whether entering the real estate market for the first time or if you have invested before, this handy reference will provide an understanding of basic real estate words and phrases.


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I

Index – (1) An alphabetical listing in the public records of the names of parties to recorded real estate instruments together with the book (liber) and page number of the record. (2) The listing in abstract and title plants of recorded real estate instrument in groups according to land descriptions, known as a geographic index. (3) The alphabetical listing in abstract and title plants, by names of the parties, of all recorded instruments that affect but do not describe particular real estate such as judgments, powers of attorney, wills, probate proceedings, tax liens, death certificates, letters of authority, etc.. Such indexes are known by various names, such as “general index,” judgment index”, “name index”, and “miscellaneous index”.

Instrument – Any written document having a legal effect.




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