| Majority | The age at which an individual is legally entitled to handle his or her own affairs |
| Margin | The amount added to the index on an adjustable-rate mortgage (ARM) that establishes the adjusted interest rate at a given time |
| Market value, or Fair market value | The most likely price that a piece of property or home can realistically be sold for, and is dependent on the selling price of similar real estate in the area |
| Marketable title | A clear, unencumbered title, reasonably acceptable without the threat of the risk of litigation |
| Maturity | The date on which the principal balance of a loan, bond, or other financial commitment is due and payable |
| Mechanic’s lien | A lien created by statute to allow unpaid contractors, laborers or suppliers who have performed work on or furnished materials for the construction of a building to recover the value of their work |
| Metes and Bounds | Means for describing property by a set of directions and distances, when there isn’t identification based on a surveyed lot number |
| Minor | An individual below the age at which he or she is legally entitled to handle his or her own affairs |
| Monument of Survey | le indications made on natural or man-made objects that indicate the boundaries of a survey |
| Mortgage | A legal document that pledges a property to the lender as security for the payment of a loan or debt |
| Mortgage broker | An individual or company that acts as an agent between borrowers and lenders for the purpose of arranging and negotiating mortgage contracts; who is paid a fee for such service |
| Mortgage insurance | A contract that guarantees the lender against loss caused by a mortgagor’s default on a government or conventional mortgage; such insurance can be issued by a private company or by a government agency, and covers either only a percentage, or the total, of the mortgage loan |
| Mortgagee | The lender in a mortgage transaction |
| Mortgagor | The borrower in a mortgage transaction |
| Multiple-listing service (MLS) | An organization of brokers who share their listing agreements with one another in order to find buyers for their properties more effectively than they could individually |
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