| Habendum Clause - The "To Have and To Hold" clause in a deed that defines or limits the quantity of the estate granted. |
| Habitability - See Implied Warranty of Habitability. |
| Hazard Insurance Policy - A policy of insurance that provides coverage against specified perils that might physically damage property. |
| Heirs - The persons who inherit property of a decedent owner who dies without a valid will. |
| Hereditaments - Every sort of inheritable interest in property, tangible (corporeal) and intangible (incorporeal). Used generally in connection with real property, meaning land and all of its incidents and appurtenances. |
| Highest and Best Use - That use of a property which will, as of the date of appraisal, support the highest present value for such property; also, that use which will produce the maximum net return on the property over the period encompassing the foreseeable useful life of the property, or a given period of time; also, the optimum use of a property. |
| Historic Preservation Zoning - Zoning for the purpose of preserving the historic character of buildings and neighborhoods. |
| Holding Period - The period for which a party owns a property. In order for a party to be eligible for long-term capital gains treatment of profits on the sale of real property, the property must be held for at least six months under current requirements. |
| Holdover Tenant - A tenant who remains in possession of leased property after the expiration date of the lease term. |
| Homeowner's Insurance Policy - A "package policy" of insurance designed to insure a homeowners buildings against a number of perils including fire, lightning, windstorm, hail, etc. and the homeowner against liability claims. |
| Homestead - Real property owned by a person under special legal restrictions and exemptions from claims of his/hers creditors under the Constitution. |
| HUD - The U.S. Department of Housing and Urban Development. |
| HUD-1 Form - See Uniform Settlement Statement. |
