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Habendum Clause

That part of a deed beginning with the words “to have and to hold” following the granting clause and defining the extent of ownership the grantor is conveying.

Habitability Statute

A law that imposes a duty on the landlord to make the leased premises habitable and ready for occupancy and to maintain it in a state of repair throughout the term of the lease.


Anything that increases the seriousness of a loss or increases the likelihood that a loss will occur (risk) due to a Peril. A hazard is something that increases the risk. Risk is defined as the chance of loss. For example: improperly stored combustible materials, worn tires, intentional abuse to insured property, unsafe structural changes.

Hazard Insurance

Insurance coverage that compensates for physical damage to a property from fire, wind, vandalism, or other hazards.

Health Insurance

Broadly, coverage to provide benefits upon the occurrence of disabling sickness or accident, or accidental death or dismemberment, or loss of income due to disability. Health insurance never covers death due to sickness, however. That’s Life insurance! Also known as A&H (Accident and Health) or Disability insurance.

Health Maintenance Organization (HMO)

An organization of health services providers, also known as “Managed Care” providers. Each subscriber pays a premium for which he/she receives medical care when desired, subject to a co-payment per office visit. The emphasis is on preventative medicine as an alternative to traditional indemnity plans written by insurance companies.


One who might inherit or succeed to an interest in land under the state law of descent when the owner dies without leaving a valid will.


See Nonhomogeneity.

Highest and Best Use

That possible use of land that would produce the greatest return and thereby develop the highest land value. The optimum use of a site, as used in appraisal.

Hold-Harmless Agreement

A contractual arrangement whereby one party assumes the Liability inherent in a situation, thereby relieving the other party of responsibility. Such agreements are typically found in contracts such as leases, sidetrack agreements, and easements. For example, a typical lease may provide that the lessee must “hold harmless” the lessor for any liability from accidents arising out of the premises.

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