Market Rent
The rental income that a property will command in the open market.
Market value
The highest price in the market a buyer would pay for a property exposed for sale for a reasonable time period and a willing seller would accept, given that both are fully informed and the property being.
Marketable title
Title to property that is free from objectionable liens or encumbrances or any other legal claims.
Market Price
The price the property fetches in a given market.
Maturity date
The last day of the term of an agreement by when the loan is expected to be fully paid.
Misrepresentation
A false statement or concealment of a material fact made with the intention of stirring up some action by another party. For instance when a person positively asserts that a fact is true when his information does not warrant it to be so.
Maintenance
The upkeep of a building or premises to keep it in an acceptable condition, fit for optimum use.
Mixed-Use
Space within a building or project providing for more than one use (i.e., a loft apartment project with retail, an apartment building with office space, an office building with retail space).
Mortgage
A legal document mentioning the real property as a security against a loan.
Mortgage Deed
This is a legal document that states the lender's legal charge over a property unless the loan is repaid. It contains the loan principal amount to be paid over a period of time.
Mortgagor
One who borrows money on his property giving mortgage as security.
Mutual Consent
A mutual assent of the parties to the formation of the contract.
Minor
Someone who has not reached the age of majority and therefore does not have the legal capacity to enter into contracts or transfer title to real property. In India, a person under 18 years is 'minor'.
Mortgage Broker
One who, for a fee, brings together a borrower and lender, and helps them out with the necessary paperwork like helping the borrower obtain a loan against real property by giving a mortgage or deed of trust as security.