Physical Oceanographic Real Time System (PORTS): A national system of current, water level, and other oceanographical and meteorological sensors telemetering data in real-time to central locations for storage, processing, and dissemination. Available to pilots, mariners, the U.S. Coast Guard, and other marine interests in voice or digital form. First introduced in Tampa Bay.

 

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Physical Oceanographic Real Time System (PORTS): A national system of current, water level, and other oceanographical and meteorological sensors telemetering data in real-time to central locations for storage, processing, and dissemination . . . View Full Definition

Real Estate Recovery Fund: A fund established in some states from real estate license revenues to cover claims of aggrieved parties who have suffered monetary damage through the actions of a real estate licensee.

Real Estate Settlement Procedures Act (RESPA): A federal law, enacted in 1974 and later revised, that ensures that the buyer and seller in a real estate transaction have knowledge of all settlement costs when the purchase of a one-to-fou . . . View Full Definition

Real Estate Owned (REO): A term used by lenders to refer to properties acquired through foreclosure.