Real Estate Terms Glossary
O
Obligee: One to whom an obligation (promise) is owned.
Obligor: One who legally binds (obligates) oneself, such as the maker of a promissory note.
On Line Broker: A real estate brokerage that conducts business over the Internet. See also "Internet Broker".
Original Cost: The purchase price of property, paid by the present owner. The present owner may or may not be the first owner.
Owner's Policy: A policy of title insurance usually insuring an owner of real estate against loss occasioned by defects in, liens against or unmarketability of the owner's title.
Obligor: One who legally binds (obligates) oneself, such as the maker of a promissory note.
On Line Broker: A real estate brokerage that conducts business over the Internet. See also "Internet Broker".
Original Cost: The purchase price of property, paid by the present owner. The present owner may or may not be the first owner.
Owner's Policy: A policy of title insurance usually insuring an owner of real estate against loss occasioned by defects in, liens against or unmarketability of the owner's title.
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