H
HABENDUM CLAUSE
- That part of the deed beginning with the words "to have
and to hold," following the granting clause and reaffirming the extent
of ownership that the grantor is transferring.
HABITABLE
- Being fit to live in. The residential landlord has an obligation
to keep the leased premises in a habitable condition.
HEIR
- A person who inherits under a will or a person who succeeds to property
by the laws of descent if the decedent dies without a will (intestate).
HIGHEST AND BEST
USE - That use which, at the time of appraising the
property, is most likely to produce the greatest net return to the
land and/or the building over a given period of time.
HIGH RISE
- A popular expression for a condominium or apartment building generally
higher than six stories.
HOLD HARMLESS CLAUSE
- A clause inserted in a contract whereby one party agrees to indemnify
and protect the other party from any injuries or lawsuits arising
out of the particular transaction.
HOLDOVER TENANT
- One who stays on the leased premises after his lease has expired.
The landlord normally has the choice of evicting the holdover tenant
or permitting him to remain and continue to pay rent.
HOMEOWNER'S ASSOCIATION
- A non-profit association of homeowners organized
pursuant to a declaration of restrictions or protective covenants
for a subdivision, a PUD, or a condominium.
HOMESTEAD
- A home which is used as a personal residence.
HOTEL
- A building or group of attached or detached buildings containing
dwelling or lodging units in which 50 percent or more of the units
are lodging units, usually distinguished by a front desk, dining and
other common facilities.
HOUSE RULES
- Rules of conduct adopted by a board of directors of a condominium
and designed to promote harmonious living among the owners and occupants.
HUD
- A federal cabinet department officially known as the Department
of Housing and Urban Development.
HYPOTHECATE
- To pledge specific real or personal property as security for an
obligation, without surrendering possession of it.
