California License Real Estate Terms Glossary

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HANDICAP

Includes but is not limited to a physical or mental impairment that substantially limits one or more of a person's major life activities.

HAZARD INSURANCE

Insurance that protects the owner and lender against physical hazards to property such as fire and windstorm damage.

HEADER

A beam placed perpendicularly to joists and to which joists are nailed in the framing of openings such as windows, doors, and stairways.

HEIRS

Persons who succeed to the estate of someone who dies intestate?(without a will). It sometimes indicates anyone who is entitled to inherit a decedent's property.

HEREDITAMENT

A term usually referring to real estate and all that goes with it as being incidental.

HIGHEST AND BEST USE

An appraisal phrase that means that use of real property that is most likely to produce the greatest net return on land or buildings, or both, over a given period of time.

HIP ROOF

A pitched roof with sloping sides and ends.

HOLDEN ACT

Specically states that "redlinning" is illegal in California.

HOLDER IN DUE COURSE

One who has taken a negotiable note, check, or bill of exchange in due course

1. before it was past due;
2. in good faith;
3. without knowledge that it has been previously dishonored and without notice of any defect at the time it was negotiated to him or her;
4. for value. Someone who acquires a negotiable instrument in good faith and without any actual or constructive notice of defect. The acquisition must occur before the note's maturity. Such a holder takes the note free from any personal defenses (such as failure of consideration, fraud in the inducement) that may be available against the maker

HOLOGRAPHIC WILL

A will that is entirely written, dated, and signed by the testator in the testator's handwriting. No witnesses are needed.

HOMEOWNER'S EXEMPTION

An exemption or reduction in real property taxes available to those who reside on their property as of March 1. The current amount is $70 off the normal tax bill otherwise due.

HOMESTEAD

1. A home upon which the owner or owners have recorded a Declaration of Homestead, as provided by California statutes, that protects the home against judgments up to a specified amount.
2. A probate homestead is a similarly protected home property set aside by a California probate court for a widow or minor children. A special, limited exemption against certain judgments available to qualified homeowners.

HUNDRED PERCENT LOCATION

A retail business location considered the best available for attracting business.

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