Majority — The age at which a person is entitled to handle his or her own affairs.
Market value - The average of the highest price that a buyer would pay and the lowest price a seller would accept.
Marketable title - A title which a reasonable purchaser, well informed as to the facts and their legal meaning, would be willing to accept.
Master deed - See declaration.
Mechanics’ lien - A lien on real estate that secures the payment of debts due to persons who perform labor or services or furnish materials incident to the construction of buildings and improvements on the real estate.
Metes and bounds - A land description in which boundaries are described by courses, directions, distances, and monuments.
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. May also be fixed natural objects, blazed trees, roads and even a water course.
Mortgage - A conditioned pledge of property to a creditor as security for the payment of a debt.
Mortgage Boot - Any liability in the exchange assumed or taken subject to.
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 - Insurance written by an independent mortgage insurance company protecting the mortgage lender against loss incurred by a mortgage default, thus enabling the lender to lend at a higher loan-to-value ratio.
Mortgagee - The holder of a mortgage.
Mortgagee policy - See loan policy.
Mortgagor - A person who gives a mortgage on his or her property to secure an obligation, usually the repayment of a debt.
Multiple listing - The pooling in a central bureau of listings of properties for sale.
Muniments of title - Written evidence (documents) that an owner possesses to prove his or her title to property. See also examination.