Real Estate Terms Glossary: N

A | B | C | D | E | F | G | H | I | J-K | L | M | N | O | P | Q | R | S | T | U-Z

National Association Of Real Estate Brokers (NAREB)
The nations oldest and most effective minority-owned trade association. Members are known by the membership mark, REALTIST®. Their website can be viewed here.

National Association Of REALTORS® (NAR)
A national trade organization comprised of real estate brokers, salespersons, and affiliated professions. The primary goal of the NAR is to promote the private property rights of individuals and to act as the spokesman for the real estate industry through legislative and education activities. Their website can be viewed here.

Negligent Misrepresentation
Occurs when a seller's broker conceals a defect in the property from the buyer or misrepresents the existence of a defect.

Negotiation
The transaction of business aimed at reaching a meeting of minds among the parties; bargaining.

Normal Wear And Tear
That physical deterioration which occurs in the normal course of the use for which a property is intended, without negligence, carelessness, accident or abuse of the premises (or equipment or chattels) by the occupant, members of household, or their invitees or guests.

Nuisance
Conduct or activity which results in an actual physical interference with another person's reasonable use or enjoyment of his property for any lawful purpose.

Null & Void
Having no legal force or effect; of no worth; unenforceable; not binding.

-back to top-

Each Office is Independently Owned and Operated
© 2004 Century 21 Real Estate Corporation. ® and SM; trademark and service mark of
Century 21 Real Estate Corporation. Equal Housing Opportunity.
© CENTURY 21 Future Builders, Inc. All Rights Reserved.