Realtor - A member of the National Association of Realtors.

Recision - The cancellation of a contract. With respect to mortgage refinancing, the law that gives the home owner three days to cancel a contract in some cases once it is signed if the transaction uses equity in the home as security.

Recording fees - Money paid to the lender for recording a home sale with the local authorities, thereby making it part of the public records.

Refinance - Obtaining a new mortgage loan on a property already owned, often to replace existing loans on the property.

Reissue rate - A discounted rate for title insurance when the title was previously insured with an owner's title insurance policy issued within the last ten years.

Remainder - An interest in land that is postponed until the termination of some other interest such as a LIFE ESTATE. Compare, FEE SIMPLE.

Respa - Short for the Real Estate Settlement Procedures Act. RESPA is a federal law that allows consumers to review information on known or estimated settlement costs once after application and once prior to or at a settlement. The law requires lenders to furnish the information after application only.

Reversion - A provision in a conveyance that the land will return to the grantor upon the happening of an event or contingency. Compare, FEE SIMPLE.

Riparian rights - The rights of an owner of land adjacent to water.