Archives: Glossary

COUNSELOR (COUNSELLOR)

(1) A lawyer. (2) One designated as a real estate counselor by the American Society of Real Estate Counselors. The designation indicates an extremely high standard of knowledge and experience on the part of the conferee.

COUNSELOR OF REAL ESTATE (CRE)

A designation conferred by the Counselors of Real Estate, an affiliated association of the NATIONAL ASSOCIATION OF REALTORS. The designation is not just for those in the real estate business but includes lawyers, accountants, financial firms, government employees and educators.

COUNSELORS OF REAL ESTATE

An association affiliated with the NATIONAL ASSOCIATION OF REALTORS. Its members provide counseling in various aspects of real estate. The association offers publications and courses in counseling and confers the designation of Counselor of Real Estate.

COUNTER FLASHING

Flashing (tar substance) used on chimneys at the roofline to prevent entry of moisture, and cover the metal sheet flashing.

COUNTER OFFER

An offer (instead of acceptance) in response to an offer. For example: A offers to buy B’s house for X dollars. B, in response, offers to sell to A at a higher price. B’s offer to A is a counter offer.

COUNTER-LETTER

In civil law (Louisiana), when a deed is given to a lender as security, an agreement to reconvey (counter-letter) upon payment of a certain amount is given by the lender.

COUNTY

A political division within a state, usually encompassing one or more cities or towns. There are exceptions such as New York City which contains more than one county. Louisiana uses the word parrish instead of county; New York uses both borough and county, as in Kings County (the borough of Brooklyn).

COUNTY MORTGAGE

A mortgage placed on property by the county to secure aid given to indigent persons. Generally paid upon sale of the property. Also called an indigent mortgage.

COUNTY RECORDS

Public recorded documents by which notice is given of changes of title, liens, and other matters affecting real estate.

COUNTY ROAD

(1) A road lying entirely in one county. (2) Any road or portion of a road under the jurisdiction and maintenance of the county. (3) Loosely, any road not a federal or state road.

COURSE

(1) The path or direction of a river. (2) Something designed so that it must be used by following a certain direction, such as a golf course or race course. (3) A continuous row or layer of wood, bricks, masonry, etc.

COURT

(1) A totally uncovered space, wholly or partly surrounded by walls or buildings. (2) A blind alley, short street, or short cul de sac. (3) A courtroom.

COURTESY TO BROKERS

Willingness of a seller to pay a commission to any broker supplying a suitable buyer; or the willingness of a listing broker to share the commission with any broker supplying a suitable buyer.

COVE

(1) An arched, rather than square angle, meeting of a ceiling and wall. (2) An inlet or small bay.

COVE MOLDING

A small, concave faced molding, used to cover a narrow gap or angle.

COVENANT

Generally, almost any written agreement. Most commonly in real estate, assurances set forth (expressed) in a deed by the grantor or implied by law. Example: Covenant against encumbrances, covenant of right to convey, etc.

COVENANT NOT TO COMPETE

A promise (covenant) usually by a seller of a business, not to operate a competitive business after the sale. The more specific the restriction (time limit, distance, etc.), the more easily it is enforceable.

COVENANT OF QUIET ENJOYMENT

Usually inserted in leases or conveyances whereby lessor or grantor promises that the tenant or grantee shall enjoy possession of the premises in peace and without disturbance caused by defective title.

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