Taxable income portion of the money received from the sale of real estate.
Recoil
(1) To react to unexpected stimulus by jumping or moving backwards. (2) The backwards force resulting from the expelling of an object out of a device (i.e. a nail gun).
Reconciliation
In an appraisal, the process of adjusting comparables for an estimated value of a subject by using cost, market comparison and income approaches. Alternately, the adjustment of the differences between two items so that figures agree.
Reconstructed operating statement
Statement of income, which is either revised due to new information or reconstructed from information or records if the original is lost.
Reconveyance
The conveying of a property, by a lender, back to the borrower once he has completely paid off his mortgage.
Reconveyance deed
Deed that is issued to convey the property to the original owner, once the mortgage is repaid.
Recool
The sensible cooling of air that has been previously heated by HVAC systems serving the same building.
Record
(1) To file a deed or other official documentation with an appropriate agency or institution. (2) Information set down in writing regarding a specific subject. (3) An official transcript of Court proceedings.
Recordation
The recording of deeds and other instruments in a public registry to give notice of ownership or legal and financial claims to the public, which protects those making claims from unrecorded claims.
Recorded map
Also known as a plat, it is a plan or map of a specific land area, showing the boundaries of individual properties.
