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HABENDUM CLAUSE - The "to have and to hold" clause which may be found
in a deed.
HEIR - One who inherits property at the death of the owner of the land, if the
owner has died without a will.
HIGHEST AND BEST USE - An appraisal phrase meaning that use which at
the time of an appraisal is most likely to produce the greatest net return to the
land and/or buildings over a given period of time; that use which will produce
the greatest amount of amenities or profit. This is the starting point for
HIP ROOF - A pitched roof with sloping sides and ends.
HOLDER IN DUE COURSE - One who has taken a note, check or bill of
exchange in due course:
1. before it was overdue;
2. in good faith and for value; and
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.
HOLDOVER TENANT - Tenant who remains in possession of leased property
after the expiration of the lease term.
HOMESTEAD - (exemption) - A statutory protection of real property used as
a home from the claims of certain creditors and judgments up to a specified
HOUSING FINANCIAL DISCRIMINATION ACT OF 1977 (Holden Act)California
Health and Safety Code Section 35800, et seq., designed primarily to
eliminate discrimination in lending practices based upon the character of the
neighborhood in which real property is located. (See Redlining.)
HUD - The Department of Housing and Urban Development which is
responsible for the implementation and administration of U.S. government
housing and urban development programs.
HUNDRED PERCENT LOCATION - A city retail business location which is
considered the best available for attracting business.
HYPOTHECATE - To pledge a thing as security without the necessity of giving
up possession of it.