HABENDUM CLAUSE . The “to have and to hold” clause which may be found in a deed.

HEIR . One who inherits property at the death of the owner of the land, if the owner has died without a will.

HIGHEST AND BEST USE . An appraisal phrase meaning that use which at the time of an appraisal is most likely to produce the greatest net return to the land and/or buildings over a given period of time; that use which will produce the greatest amount of amenities or profit. This is the starting point for appraisal.

HIP ROOF . A pitched roof with sloping sides and ends.

HOLDER IN DUE COURSE . One who has taken a note, check or bill of exchange in due course: 1. before it was overdue; 2. in good faith and for value; and 3. without knowledge that it has been previously dishonored and without notice of any defect at the time it was negotiated to him or her.

HOLDOVER TENANT . Tenant who remains in possession of leased property after the expiration of the lease term.

HOMESTEAD . (exemption) . A statutory protection of real property used as a home from the claims of certain creditors and judgments up to a specified amount.

HUD . The Department of Housing and Urban Development which is responsible for the implementation and administration of U.S. government housing and urban development programs.

HUNDRED PERCENT LOCATION . A city retail business location which is considered the best available for attracting business.

HYPOTHECATE . To pledge a thing as security without the necessity of giving up possession of it.