Real Estate Terms H

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Henderson - Suburb of Las Vegas and the 2nd largest city in the state.  It is also one of the fastest growing cities in the US.

Home Owners Association (HOA) - Group of homeowners in a planned community, co-op or condominium community that are responsible for improving or maintaining the community common areas.

Home Owners Association Dues - Fees assessed to property owners in a community with a HOA.  The dues are used for maintenance and improvement of the community's common areas.

Homestead - The common definition is a piece of property (house, condo, etc) occupied as a family residence.  In Nevada, it also means registering your primary residence with the County Recorders office under the Nevada Homestead protection rule.  When your primary residence has recorded a declaration of  homestead, you gain additional protections towards the equity in your home up to $350,000 from general creditor claims (unpaid medical bills, bankruptcy, charge card debts, business/personal loans, accidents). However, it will not preclude a seizure or forced sale of your residence from general creditors if your equity exceeds the $350,000 under Nevada law statute NRS 115.  You can download a free homestead form here.

HUD - An acronym for the governmental department of Housing and Urban Development.

Real Estate Glossary