bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay its creditors. Creditors may file a bankruptcy petition against a debtor ("involuntary bankruptcy") in an effort to recoup a portion of what they are owed or initiate a restructuring. In the majority of cases, however, bankruptcy is initiated by the debtor (a "voluntary bankruptcy" that is filed by the insolvent individual or organization)

broker’s price opinion, or BPO, is a method that a real estate broker (or a sales agent acting on behalf of their employing broker) uses to estimate the probable selling price of a real estate property/house

capital gain is a profit that results from investments into a capital asset, such as stocks, bonds or real estate, which exceeds the purchase price. It is the difference between a higher selling price and a lower purchase price, resulting in a financial gain for the investor

cash flow refers to the movement of cash into or out of a business, or project, or financial product. It is usually measured during a specified, finite period of time

Commerce prepared, done, or acting with sole or chief emphasis on salability, profit, or success, is a division of trade or production which deals with the exchange of goods and services from producer to final consumer. It comprises the trading of something of economic value such as goods, services, information, or money between two or more entities

commercial buildings a building that is used for commercial use. Types can include office buildings, warehouses, or retail (i.e. convenience stores, 'big box' stores, shopping malls, etc.)

commercial property (also called investment or income property) refers to buildings or land intended to generate a profit, either from capital gain or rental income

court of equity or chancery court, equity court  is a court that is authorized to apply principles of equity, as opposed to law, to cases brought before it

creditor is a party (e.g. person, organization, company, or government) that has a claim to the services of a second party. It is a person or institution to whom money is owed

debt is that which is owed

deed of trust is a deed by the borrower to a trustee for the purposes of securing a debt. In most states, it also merely creates a lien on the title and not a title transfer, regardless of its terms

depreciation is the reduction in the value of an asset due to usage, passage of time, wear and tear, technological outdating or obsolescence, depletion, inadequacy, rot, rust, decay or other such factors.  in accounting, depreciation is a term used to describe any method of attributing the historical or purchase cost of an asset across its useful life

equity the interest of the owner of common stock in a corporation

finance refers to the concepts of time, money and risk and how they are interrelated. Banks are the main facilitators of funding through the provision of credit, although private equity, mutual funds, hedge funds, and other organizations have become important

mortgage loan modification is a process where the terms of a mortgage are modified outside the original terms of the contract agreed to by the lender and borrower (i.e mortgagor and mortgagee). In general, any loan can be modified

profit is a component of the firm's opportunity costs. The time that the owner spends running the firm could be spent on running another firm. Normal profit is the return the entrepreneur can expect to earn or the profit that a business owner considers necessary to make running the business worth his/her while

promissory note, referred to as a note payable in accounting, is a contract where one party (the maker or issuer) makes an unconditional promise in writing to pay a sum of money to the other (the payee), either at a fixed or determinable future time or on demand of the payee, under specific terms

property (or realty) often referred to real property generally encompasses land, land improvements resulting from human effort including buildings and machinery sited on land, and various property rights over the preceding

real estate refers to the land and fixtures together, as distinguished from "real property," referring to ownership rights of the land itself

real property (or realty) refers to one of the three main classes of property, the other two classes being personal property and intellectual property. Real property generally encompasses land, land improvements resulting from human effort including buildings and machinery sited on land, and various property rights over the preceding

redemption value is the price at which the issuing company may choose to repurchase a security before its maturity date

rent is an agreement where a payment is made for the temporary use of a good or property owned by another person or company

rental an apartment, house, car, etc., offered or given for rent

repossession is generally used to refer to a financial institution taking back an object that was either used as collateral or rented or leased in a transaction. Note that repossession is a "self-help" type of action in which the party having right of ownership the property in question takes the property back from the party having right of possession without invoking court proceedings

residential is a land use in which predomites housing, as different from industrial and commercial areas

secured to (a) assure payment of (a debt) by pledging property  or (b) assure (a creditor) of payment by the pledge or mortgaging of property

security interest is a property interest created by agreement or by operation of law over assets to secure the performance of an obligation, usually the payment of a debt

short sale is a sale of real estate in which the proceeds from the sale fall short of the balance owed on a loan secured by the property sold