| MAINTENANCE | Any repairs or general upkeep done to preserve the present condition of a property. |
| MAJORITY | The age at which a person is entitled to handle his own affairs. |
| MARGIN | A percentage added to an adjustable rate mortgage's index to determine the interest rate at a given time. For example, if an ARM has an index of 4% and a margin of 2.75, the interest rate is set at 6.75% (4 + 2.75). |
| MARKET VALUE | Also known as fair market value. The price that a property can realistically be sold for, given the selling price of other comparable houses in the area. |
| MARKETABLE TITLE | Title without defects or claims so as to be readily accepted without fair or reasonable doubt. Compare, Insurable Title. |
| MECHANIC'S LIEN | A lien allowed by statute to contractors, laborers and material men on buildings, or other structures upon which work has been performed or materials supplied. |
| METES AND BOUNDS | A means of describing land by directions and distances rather than reference to a lot number. Generally used when land has not been subdivided into lots. |
| MINOR | One who because of insufficient age or status is legally incapable of making contracts. |
| MONUMENT OF SURVEY | Visible marks or indications left on natural or other objects indicating the lines and boundaries of a survey. May be posts, pillars, stones, cairns, and other such objects, but may also be fixed natural objects, blazed trees, roads and even a water course. |
| MORTGAGE | A conditional contract in which a property is given as security for the repayment of a loan. |
| MORTGAGE BANKER | A specialized lending institution that lends money solely with respect to real estate and secures its loans with mortgages on the real estate. |
| MORTGAGE BROKER | A person or company that buys and sells mortgages for another on commission or who arranges for and negotiates mortgage contracts. |
| MORTGAGE INSURANCE | A policy that allows mortgage lenders to recover part of their financial losses if a borrower fails to repay a loan. |
| MORTGAGE REVENUE BONDS | Issued by communities as a means of providing lower cost mortgage funds to certain qualified borrowers. |
| MORTGAGEE | A designation for the mortgage lender on lands. |
| MORTGAGEE'S POLICY | A form of title insurance policy which insures the validity, enforceability and priority. This form does not provide protection for the owner. |
| MORTGAGOR | A designation for the mortgage borrower on lands. |
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