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

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 communities common areas.

Homestead - The common definition is a piece of property (house, condo, etc) occupied as a family residence.  In Colorado, it also means registering your primary residence with the County Recorders office.  When your primary residence has recorded a declaration of homestead, you gain additional protections towards the equity in your home up to $45,000 from general creditor claims (unpaid medical bills, bankruptcy, charge card debts, business/personal loans, accidents).

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