Cara, a real-estate lawyer in Rhode Island, was surprised by gazump, meaning to cheat a home buyer at the last minute, often by raising the price just before the contract is signed. The word turns up in the United States in the 1920s, apparently...
REO n.— «R.E.O. is industry lingo for “Real Estate Owned,” the term that bankers assign to homes they have taken in a foreclosure. Reomac is the industry group that serves the mortgage default trade, specializing in selling the busted-up...
POD n.— «The mother can designate beneficiaries of the account who will receive the monies in the account upon her death. These accounts are often called “Payable on Death,” or “POD” accounts. They operate similar...
pour-over will n.— «What your attorney probably has suggested is that you execute what is known as a pour over will. A pour over will essentially leaves all your property to your trust. The pour over will is sort of an estate plan’s...