Real Estate Glossary

Letter H

HabendumThe clause in a deed, following the granting clause, which defines the extent of the estate of the grantee.

Habendum ClauseThe deed clause beginning “to have and to hold,” which defines or limits the extend of ownership in the state granted by the deed.

Habitable RoomA room used for living area, such as a kitchen, bedroom, dining room, etc., as opposed to bathrooms, closets, hallways, and similar spaces. Generally, habitable rooms are the only ones counted in the number of rooms in a house; bathrooms are counted separately.

HabitancyA legal term meaning the place which a person inhabits (lives). The layman's meaning of a place where someone "lives" is probably the closest definition.

HaciendaAn estate, farm, or, commonly, even a house. Originally, the royal estate.

Hack StandAn area where taxicabs may park to solicit fares.

Half SectionOne half of a section of land, divided either North and South, or East and West. See also: Section.

Half-TimberedResidential construction exposing the timber frame of the interior walls, the space between being lath and plaster. In simulated half- timbering, the attaching of boards (or a plastic which is treated to resemble a timber surface) to the surface of an interior wall. In simulated half-timbering, the boards are strictly decorative, and not load-bearing.

HallOriginally, a large building used as a meeting place, such as a town hall. The term has also become synonymous with "hallway", the latter being a relatively narrow passageway between rooms.

HamletA small village or town.

HandA lineal measure equal to four inches, the approximate width of a man's hand. Most commonly used to measure the height of a horse.

HarborA natural or man made sheltered area for ships to anchor. May or may not have docks and other port facilities.

Hard CostsSee: Direct Costs.

Hard FinishA smooth outer coat of varnish, plaster, or similar finish material.

Hard Money MortgageA mortgage given in return for cash, rather than to secure a portion of the purchase price, as with a purchase money mortgage.

HardpanA compacted layer of soil, usually containing clay, through which it is difficult to drain or dig.

HardwareIn construction, metal accessories such as doorknobs, hinges, locks, etc.

HardwoodWood used for interior finish, such as oak, maple, and walnut. Although the term originally referred to the type of tree and not the hardness of the wood, modern usage usually refers to the hardness of the wood.

HarmoniousBlending compatibly, as parts of buildings, buildings in a neighborhood or subdivision, etc.

HatchwayUsually describes a door in the deck of a boat. A door in the ceiling or floor of a building, giving access to the attic or cellar.

Hazardous MaterialAny type of product with toxic, corrosive, flammable, or reactive qualities. Headers In construction, reinforcements made of wood for door and window placement. Also called: Lintels.

Hazard Ranking SystemDetermining which sites are most in need of immediate Superfund money. The system was created by the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA). The ranking considers such things as degree of toxicity, amount of toxicity, and danger to people.

H-BeamA beam, the cross-section of which is the shape of a capital H.

Head(1) The upper framing member of a door or window. Also called a header. (2) The beginning of a river or stream.

Header (Lintel)A horizontal beam over a wall opening, such as a doorway, fireplace, etc. The header is attached to vertical framing members, and spreads the weight from above to these members.

Head Of A Family (Head of Household)A term used in homestead exemptions to designate the person in charge of managing and supporting a family. It need not be a parent.

Hearth(1) The fireside. (2) The fireplace floor, of stone, brick, tile, etc.

HeartwoodA dead portion of a tree, no longer producing sap. The wood from the center of the tree (pith) to the wood which produces sap (sapwood).

HeaterConnotes a device working by itself to heat a small area (space heater), rather than a heating system, composed of a central source of heat (furnace) and pipes and ducts which heat several spaces.

Heating SystemA general term encompassing any system designed to heat a structure in its entirety, as opposed to a space heater.

Heat PumpA pump used in either heating or cooling.

Heavy IndustryAny industry designated "heavy industry" under a zoning ordinance. Usually connected with some type of pollution, such as air, water, or noise pollution.

Heavy Steel FrameA building having steel beams, girders, or other framing members, which carry heavy floor loads.

HectareA french unit of measurement, equaling 10,000 square meters (2.471 acres).

HeelThat part of a vertical framing member which rests closest to the floor.

Height DensityA zoning term referring to the regulation of maximum building heights for structures in given areas.

HeirOne who might inherit or succeed to an interest in land under the state law of descent when the owner dies without leaving a valid will.

Heirs And AssignsWords usually found in a deed, showing the interest the grantee is receiving. A deed to "A, his heirs and assigns", would grant the property to A, with the right to assign said property or have it descend to A's heirs upon A's death. This would be considered a fee interest (estate). This would differ from, for example, a life estate granted to A, which would terminate upon A's death and could not be inherited by A's heirs.

Help (Homebuyer Education Learning Program)An educational program from the FHA that counsels people about the home buying process. Completion of the program may entitle the homebuyer to a reduced initial FHA mortgage insurance premium.

HereditamentsEvery kind of inheritable property, including person, real corporeal, and incorporeal.

HeterogeneousAn appraisal term describing an area composed of buildings of varied styles or uses. Not as desirable as homogeneous property.

HiatusSee: Gore.

Highest And Best UseThe possible use of land that will produce the greatest net income and thus develop the highest land value.

High-Rise Apartment BuildingAn apartment building considered "high" in the area where it is built. There is no national height standard.

High-Tension Power LinesLarge transmission cables carrying electrical energy.

High Water LineThe line on the shore to which high tide rises under normal weather conditions.

HighwayTechnically, any public road, regardless of size. Most commonly, a paved road which carries traffic at high speeds.

Highway CapacityThe number of vehicles which may move along a highway at the same time. The number may vary as the type (size) of the vehicles vary, speed limit changes, access changes, etc.

Highway FrontageTechnically, land which fronts on a highway. For purposes of determining value, land which fronts on and has access to a highway.

HipThe convex angle at the exterior meeting of the sides of a hip roof.

Hip RafterThe rafter which forms the intersection of a convex roof angle.

Hip RoofA roof with four sloping sides which rise to a ridge. Usually found on garages or church steeples. Also called a pyramid roof.

Historical CostThe cost of a building when first constructed, as opposed to the original cost (cost to the present owner), although they may be the same.

Historic Preservation OfficeIdentifies, evaluates, preserves, and revitalizes any given city's historic, archaeological, and cultural resources.

HogwallowsSmall depressions formed by heavy rains, resembling the depressions left after the wallowing of hogs.

HoldbackPortion of a loan held back by the lender until a contingency is net. In the sale of a home insured by V.A. or F.H.A., funds may be held back to make necessary improvements to bring the property to V.A. or F.H.A. standards. The money to make these repairs may not be available until closing. One and one half to double the estimated amount necessary is held back. If repairs are not made in the time allowed, these funds are used to make the repairs. In construction financing, funds are held back until, for example, a certain percentage of a subdivision has been sold, or a certain portion of a building has been completed.

HolderOne who rightfully acquires a negotiable instrument, such as a check or note. A holder has the same rights as an assignee, which are less than the rights of a holder in due course. See also: Holder In Due Course.

Holder In Due CourseThe transferee of a negotiable instrument, such as a check or note, for value, in good faith and without knowledge that the instrument is in default or has been dishonored. A holder in due course has greater rights than a holder and may have greater rights than the original transferor.

Hold Harmless AgreementSee: Indemnity Agreement.

Holding EscrowAn open escrow for the life of a land contract, under which the escrow holder may be empowered to collect payments due under the contract and pay underlying encumbrances, and record a deed and purchase money mortgage, which are executed at the time of the inception of the land contract and held in the escrow, in the event of default by vendee. A cumbersome and costly method not used in all states, and in states where used, rapidly being replaced by the security (installment) land contract.

Holding PeriodThe time period used by the IRS to determine a long or short term capital gain. The period during which the taxpayer owns the capital asset.

Holdover TenancyA tenancy by which a lessee retains possession of a leased property after her or his lease has expired and the landlord, by continuing to accept rent from the tenant, agrees to the tenant's continued occupancy as defined by state law.

Holdover TenantOne who continues to occupy property after the lease expires.

Hold Over TenantA tenant who retains possession after the expiration of a lease.

Hollow-Newell StairA circular stairway having a hollow center. Usually the curve of the circle is severe.

Hollow WallSee: Cavity Wall.

Holographic WillA will that is written, dated, and signed in the handwriting of the maker.

Holograph Or Holographic WillA will written and executed entirely in the handwriting of the testator.

Home Acquisition DebtA mortgage a taxpayer takes out to buy, build, or substantially improve a qualified home.

Homebuyer Assistance ProgramsAlternative financing programs through which lenders may offer borrowers as tools to help them qualify more easily, get a larger loan, or pay less of a down payment.

Home Equity DebtA loan that does not qualify as home acquisition debt but is secured by a qualified home.

Home Equity LoanA loan secured by a second mortgage on the homeowner's principle residence. Home equity loans are usually one-time loans for a specific amount of money obtained for a specific, and often non-housingrelated, expenditure. Payments are made according to the loan terms and interest is usually tax deductible. Compare: Home Equity Line of Credit.

Home FinancingA banking term for loans to construct or property of no more than 4 units.

HomekeeperA reverse mortgage loan from the Federal National Mortgage Association for persons 62 and older. The loan is used to purchase a home with a small down payment and no credit and income requirements. The loan is based on the number and age of the borrowers and the appraised value of the home.

Home OccupationSmall business or other occupation conducted in a residence.

Homeowners AssociationNonprofit association comprised of homeowners, responsible for enforcing the subdivision's CC&Rs and managing other community affairs.

Home Owners' Association(1) An association of people who own homes in a given area, formed for the purpose of improving or maintaining the quality of the area. (2) An association formed by the builder of condominiums or planned developments, and required by statute in some states. The builder's participation as well as the duties of the association are controlled by statute.

Home OwnershipOwnership as opposed to a rental status. See also: Ownership.

Homeowner’s Insurance PolicyA standardized package insurance policy that covers a residential real estate owner against financial loss from fire, theft, public liability, and other common risks.

Homeowner’s Warranty ProgramAn insurance program offered to buyers by some brokerages, warranting the property against certain defects for a specified period of time.

HomesteadThe dwelling (house and contiguous land) of the head of a family. Some states grant statutory exemptions, protecting homestead property (usually to a set maximum amount) against the rights of creditors. Property tax exemptions (for all or part of the tax) are also available in some states. Statutory requirements to establish a homestead may include a formal declaration to be recorded.

Homestead ExemptionSee: Homestead.

Homestead LawsLaws that protect property owners from lien foreclosure by exempting some their equity in real estate. In New York, homestead protection is limited to $10,000 individually and $20,000 for land co-owned by a married couple.

Homestead ProtectionLimited protection for a debtor against claims of judgment creditors; applies to property of the debtor's residence.

Homestead ProvisionThe land and the improvements thereon designated by the owner as his or her homestead and, therefore, protected by state law, either in whole or in part, from forced sale by certain creditors of the owner.

Home Warranty InsurancePrivate insurance insuring a buyer against defects (usually in plumbing, heating, and electrical) in the home he has purchased. The period of insurance varies and both new and used homes may be insured.

HomogeneousSimilar or the same. In appraisal, an area having similar style properties or properties of similar use is considered more valuable than a heterogeneous area.

HoodA projecting canopy, as over a door or window. Any covering serving the protective purpose of a clothing hood.

HopperA device used on the sides of hospital windows to prevent drafts.

Hopper WindowSee: Hospital Window.

HorizonLimestone deposits under the C horizon.

HorizontalParallel to the horizon. From side to side, rather than up or down.

Horizontal Property ActsLaws that create the legal framework for creating a condominium form of ownership and make it possible to define actual ownership rights.

HospitalAn institution where care, nursing, and surgery are performed for the sick and injured. May be government or privately owned.

Hospital WindowA window that opens inwardly from bottom hinges and has hoppers (draft preventers) on its sides.

Hostile And AdversePossession or use of land without the owner's permission and against the owner's interests; one condition necessary for an easement by prescription and adverse possession.

Hot Air Heating SystemSee: Warm Air Heating System.

HotelOriginally, any place for travelers to spend the night. Any hotel built today would be a multi-storied structure having sleeping rooms with private bathrooms, suites, telephones in each rentable room, at least one restaurant, and many other amenities.

Hot Water HeaterA tank, usually glass lined, in which water is heated for household, commercial, or industrial use.

Hot Water Heating SystemA heating system using circulating hot water from a boiler through a series of pipes to the areas to be heated, and back to the boiler.

Hour-InchA flow of one miner's inch for one hour. The value of a miner's inch is not standard, being 1/40th of a cubic foot per second in some areas, and 1/50th of a cubic foot per second in others.

HouseAny building used as a residence. When in the phrase "the house of", it is usually used to describe a commercial business (from the French "chez").

House RulesThe rules and requirements established for condominium and/or co-op tenants. These could include rules for common areas, parking, noise, pets, use of recreation room, etc.

House SewerThe sewage system from the public sewer in the street to and in the house it serves.

Housing And Home Finance AgencyA federal agency created in 1947. A forerunner of HUD, having many of the same powers and duties.

Housing And Urban Development (HUD), Department OfThe federal department responsible for the major housing programs in the United States, such as F.H.A.

Housing CodeSee: Building Code.

Housing Counseling AgencyA government agency that provides counseling and assistance to individuals on issues such as loan default, fair housing, and home buying.

Housing Expense RatioThe relationship of total monthly housing expense to income, expressed as a percentage: Total Housing Expense ÷ Income = Ratio %.

Housing StartsNumber of houses on which construction has begun. The figures are used to determine the availability of housing, need for real estate loans, need for labor and materials, etc.

HUDThe Department of Housing and Urban Development; regulates FHA and GNMA.

HUD1 StatementAlso known as a settlement sheet. It itemizes all closing costs; must be given to the borrower at or before closing.

HUD (U.S. Department Of Housing And Urban Development)See: Housing and Urban Development (HUD), Department of.

HumidifierA unit, usually part of a heating system, which raises the relative humidity in a room or building by the emission of water vapor into the air.

HummocksLow mounds or conical knolls rising above the ground.

HumusThe organic portion of soil, formed by partially decomposed animal and vegetable matter.

Hundred Percent LocationAn appraisal term referring either to land of the highest value in an area, or land best suited to a specific use.

HurstA wooded hill. A grove.

HusbandA man legally married to a living woman.

Hutch(1) A hut or hovel used as a shelter by a person. (2) A house for rabbits.

HVACHeating, Ventilation and Air Conditioning.

Hydraulic CementA cement which resists moisture.

Hydroelectric PlantA plant which generates electricity from flowing water, usually at a waterfall.

HydrographA device which records or charts the depth of water, as in a well, or flow, as in a stream.

HypothecateTo mortgage or pledge without delivery of the security to the lender.

HypothecationThe pledge of property as security of a loan in which the borrower maintains possession of the property while it is pledged as security.