REAL ESTATE DICTIONARY
{loadposition dictionary}
| VA | See Department of Veterans Affairs |
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VACATED PREMISES |
Property from which all military personnel and missions have been vacated. |
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VALID |
Having force, or binding force; legally sufficient and authorized by law. |
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VALUATION |
The act or process of estimating value; the amount of estimated value |
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VALUE |
Ability to command goods, including money, in exchange; the quantity of goods, including money, which should be commanded or received in exchange for the thing valued; utility; desirability. As applied to a property value may be broadly defined as "the present worth of all the rights to future benefits arising from ownership". |
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VARA |
A Spanish, Portuguese, and Latin American unit of linear measure, varying from 32 to 43 inches. Also a square vara, as a unit of area. |
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VENDEE |
A purchaser; a retail buyer; the person to whom a thing is rendered or sold. |
| VENDEE'S LIEN | A lien against property under contract of sale to secure a deposit paid by a purchaser |
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VENDOR |
The person who transfers Property by sale. |
| VERIFICATION OF DEPOSIT | A form sent to an employer by a lender to verify that a borrower has a certain sum on deposit |
| VERIFICATION OF EMPLOYMENT | A form sent to an employer by a lender to verify that a borrower is employed at a certain salary. |
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VETERANS ADMINISTRATION |
See Department of Veterans Affairs. |
| VOD | See Verification of deposit |
| VOE | See Verification of employment |
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VOID |
That which is unenforceable; having no force or effect. |
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VOIDABLE |
That which is capable of being adjudged void but is not void unless action is taken to make it so. |
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VOLUNTARY LIEN |
Any lien placed upon property with consent of, or as a result of, the voluntary act of the owner. |
