HABENDUM CLAUSE
The "to have and to hold"
clause which may be found in a deed.
HEIR One who inherits property at the death
of the owner of the land, if the owner has died without a will.
HIGHEST AND BEST USE An appraisal phrase
meaning that use which at the time of an appraisal is most likely
to produce the greatest net return to the land and/or buildings
over a given period of time; that use which will produce the
greatest amount of amenities or profit. This is the starting
point for appraisal.
HIP ROOF A pitched roof with sloping sides
and ends.
HOLDER IN DUE COURSE One who has taken a
note, check or bill of exchange in due course: 1. before it was
overdue; 2. in good faith and for value; and 3. without knowledge
that it has been previously dishonored and without notice of
any defect at the time it was negotiated to him or her.
HOLDOVER TENANT Tenant who remains in possession
of leased property after the expiration of the lease term.
HOMESTEAD (exemption)
A statutory protection
of real property used as a home from the claims of certain creditors
and judgments up to a specified amount.
HOUSING FINANCIAL DISCRIMINATION ACT OF 1977 (Holden
Act) California Health and Safety Code Section
35800, et seq., designed primarily to eliminate discrimination
in lending practices based upon the character of the neighborhood
in which real property is located. (See Redlining.)
HUD The Department of Housing and Urban
Development which is responsible for the implementation and administration
of U.S. government housing and urban development programs.
HUNDRED PERCENT LOCATION A city retail business
location which is considered the best available for attracting
business.
HYPOTHECATE To pledge a thing as security
without the necessity of giving up possession of it.
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