Glossary of Terms

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REAL ESTATE
	"Real Estate" includes real property, leasehold and business whether with or without premises, fixtures, stock-in-trade, goods or chattels in connection with the operation of the business as defined in the Real Estate and Business Brokers Act of Ontario.
REAL ESTATE BROKER
	A brokerage who represents a principal in a real estate trade. (See more formal definition in the Real Estate and Business Brokers Act.)
REAL PROPERTY
	The combination of the tangible and intangible attributes of land and improvements. Value-wise, it is the sum of the value of the real estate, considered as land and structure and, for example, the tangible value arising by reason of a favourable lease.The real estate, plus the rights that go with it.
REALTOR
	A registered word which may only be used by an active member of a real estate board affiliated with the Canadian Real Estate Association.
RENT
	The compensation paid for the temporary use, and/or occupation of real estate.
RESTRICTED AREA BY-LAW
	See Zoning By-Law.
RESTRICTIVE COVENANT
	A limitation placed upon the use of property, contained in the deed.
RIGHT
	The interest one has in a piece of property.
RIGHT OF SURVIVORSHIP
	The distinguishing feature of joint tenancies which provides that, where land is held in undivided portions by co-owners, upon the death of any joint owner, his/her interest in the land will pass to the surviving co-owner, rather that to his/her estate.
RIGHT OF WAY
	The right to pass over another's land, more or less frequently, according to the nature of the easement.
RIPARIAN RIGHTS
	The rights of the owners of lands on the banks of watercourses, to take advantageous use of the water on, under, or adjacent to his land, including the right to acquire accretions, wharf slips, and fish therefrom.
RUNNING WITH THE LAND
	A covenant is said to run with the land when it extends beyond the original parties to the agreement and binds all subsequent takers to either liability to perform it or the right to take advantage of it.