| Term | Definition |
|---|
| remainder | The future interest in an estate which takes effect after the termination of another estate, such as a life estate; what is left at the termination of a life estate. |
| rent control | Laws that limit the amount of rent landlords may charge, and that state when and by how much the rent can be raised. Most rent control laws also require a landlord to provide a good reason, such as repeatedly late rent, for evicting a tenant. Rent control exists in some cities and counties in California, Maryland, New Jersey, New York and Washington, D.C. |
| reservation | A right reserved by a grantor in the sale or lease of a property. In a sale, the title of all property passes to the grantee, but the use may be reserved for the grantor. Contrast with exception. |
| reserves | Amounts of money set aside by a mortgage company to assure payment of property taxes, homeowners' association dues, and insurance premiums. The money is kept in an escrow account |
| RESPA | Real Estate Settlement Procedures Act is a federal law which deals with the procedures to be followed in a real estate closing, and is intended to make borrowers more knowledgeable about possible costs and charges. |
| restrictions | Limitations on the use or occupancy of real estate contained in a deed or in local ordinances pertaining to land use. |
| right of survivorship | The right of a surviving joint tenant to take ownership of a deceased joint tenant's share of the property. See joint tenancy. |
| riparian owner | One who owns land bounding upon a river or water course (stream, creek, bayou, etc.). |
| running with the land | A phrase used in property law to describe a right or duty that remains with a piece of property no matter who owns it. For example, the duty to allow a public beach access path across waterfront property would most likely pass from one owner of the property to the next. |
| Rural Fire Prevention District (RFPD) | A special taxing district created to provide rural residents with fire-fighting, fire prevention and other emergency services. |
