Real Estate terms starting with O

32 terms

Oblique View in which a three-dimensional object is represented by a drawing (oblique drawing) in which the face, usually parallel to the picture plane, is…
Occupancy Indicates whether the property to which the loan application relates will be the owner's principal dwelling.
Occupational Safety and Health Act (OSHA) The mission of the Occupational Safety and Health Administration (OSHA) is to save lives, prevent injuries and protect the health of America's workers.
Occupiable space A room, or enclosure and accessory installations thereof, which are intended for human occupancy or habitation
Offer The offer is the price at which someone who owns a security is willing to sell it.
Office of Air and Radiation (OAR) EPA's Office of Air and Radiation (OAR) deals with issues that affect the quality of our air and protection from exposure to harmful radiation.
Office of Enforcement and Compliance Assurance (OECA) The Office of Enforcement and Compliance Assurance (OECA) is responsible for ensuring the compliance of the regulated community with Federal environmental…
Office of Pesticide Programs (OPP) The Office of Pesticide Programs (OPP) regulates the use of all pesticides in the United States and establishes maximum levels for pesticide residues in…
Office of Pollution Prevention and Toxics (OPPT) The Office of Pollution Prevention and Toxics (OPPT), formerly the Office of Toxic Substances, was formed in 1977 with the primary responsibility for…
Office of Prevention, Pesticides and Toxic Substances (OPPTS) EPA's Office of Prevention, Pesticides and Toxic Substance (OPPTS) plays an important role in protecting public health and the environment from potential…
Office of Research and Development (ORD) The Office of Research and Development (ORD) is the scientific and technological arm of the U.S. Environmental Protection Agency (EPA).
Office of Science Coordination and Policy (OSCP) The Office of Science Coordination and Policy (OSCP), newly created in January of 1999, provides coordination ,leadership, peer review, and synthesis of…
Office of Solid Waste (OSW) The Office of Solid waste (OSW) operates under authority of the Resource Conservation and Recovery Act (RCRA).
Office of Solid Waste and Emergency Response (OSWER) The Office of the Assistant Administrator for Solid Waste and Emergency Response provides Agency-wide policy, guidance and direction for the Agency's…
Office of Superfund Remediation and Technology Innovation (OSRTI) Office of Superfund Remediation and Technology Innovation (OSRTI) manages the Superfund program.
Office of Thrift Supervision (OTS) The office within the Department of Treasury that charters and regulates federal savings and loan associations, as well as controlling the system of…
Oil Pollution Act (OPA) The Oil Pollution Act (OPA) was signed into law in August 1990, largely in response to rising public concern following the Exxon Valdez incident.
Open House When the seller's real estate agent opens the seller's house to the public. You don't need a real estate agent to attend an open house.
open-end mortgage A mortgage allowing the borrower to receive advances of principal from the lender during the life of the loan. See also: closed-end mortgage.
Operation The manner in which a window unit opens, closes, locks, or functions; e.g., casement, double-hung, etc.
Operations and Maintenance (O&M) Operations and maintenance (O&M) activities protect the integrity of the selected cleanup plan for a Superfund site.
Oriel A projecting bay window carried on corbels or brackets.
Original appearance The visual appearance of a structure or site at approximately the time of its completed initial construction.
Original Principal Balance The total amount of principal owed on a mortgage before any payments are made.
Origination The process of preparing, submitting, and evaluating a loan application; generally includes a credit check, verification of employment, and a property…
Origination Fee An origination fee is an amount, usually calculated as a percentage of a mortgage loan or home equity loan, which a lender charges for processing your…
Outreach and Special Projects Staff (OSPS) The Outreach and Special Projects Staff (OSPS) serves to coordinate and implement for the Office of Solid Waste and Emergency Response (OSWER) the…
Outstanding balance The amount currently owed on a loan.
Owner Financing A transaction in which the property seller provides all or part of the financing for the buyer's purchase of the property.
Owner Occupied Property A property that serves as the borrower's primary residence.
Owner's Policy The insurance policy that protects the buyer from title defects.
Ownership Ownership is documented by the deed to a property. The type or form of ownership is important if there is a change in the status of the owners or if the…