Real Estate Glossary: A
May 17, 2007 by Deyanira Bautista
Filed under Real Estate Glossary
Act of sale
A contract, usually drawn up by a notary, usedto officialize the sale of an immovable to a buyer.
Amortization
Period required to pay back a mortgage loan in full through regular payments. The amortization is usually based on fixed terms of 10, 15, 20 or 25 years.
Appraisal
A process for estimating the market value of a particular property.
Appreciation
The increase in value of something because it is worth more now than when you bought it.
Approved Lender
A lending institution authorized by the Government of Canada through CMHC to make loans under the terms of the National Housing Act. Only Approved Lenders can negotiate mortgages that require mortgage loan insurance.
Assumption Agreement
A legal document signed by a homebuyer that requires the buyer to assume responsibility for the obligations of a mortgage by the builder or the previous owner.
Association des courtiers et agents immobiliers du Québec
Organization created under the Real Estate Brokerage Act whose main mission is to protect the public by overseeing the activities of all real estate brokerage professionals practicing in Québec.
Posted by: Deya Bautista - Affiliated Real Estate Agent working as part of the McGill Immobilier team. Specializing in condos and revenue property in the metropolitan area of Montreal. For buying or selling contact Deya at: 514.917.7889 
Thanks for the glossary! I think a lot of people will find this interesting – especially for those cryptic real estate terms that are masked in ambiguity…
Keep up the good work!