| Maintenance fees Paid by a condominium unit owner to the owners’ association for upkeep of the common areas. |
| Market price Actual selling price of a property. |
| Market value Generally accepted as the highest price that a ready, willing, and able buyer will pay and the lowest price a ready, willing, and able seller will accept for a property. |
| Marketable title Good and clear title that is free from reasonable doubt as to who the owner is. |
| Master deed Document that converts a parcel of land into a condominium subdivision. |
| Master plan Long-range, comprehensive guide for the physical growth or development of a community. |
| Maturity date Date on which principal and interest on a mortgage or other loan must be paid in full. |
| Mortgage Legal document that creates a lien on property; it secures the repayment of a loan. |
| Mortgage broker Individual or company that brings borrowers and lenders together; a loan broker. |
| Mortgage company or mortgage banker Financial intermediary that offers mortgages to borrowers, and then resells them to various lending institutions, government agencies, or private investors. |
| Mortgagee Party or institution that lends money; the creditor. |
| Mortgagor Party or person that borrows money, giving a lien on the property as security for the loan; the borrower. |
| Multiple listing Agreement that allows real estate brokers to distribute information on the properties they have listed for sale to other members of a local real estate organization. Allows the widest possible marketing of those properties. Commissions are split by mutual agreement between the listing broker and the selling broker. |