| Term | Definition |
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| Landscape | A home's surroundings can range from a shrub-studded emerald lawn to a native-plant xeriscape. It is one major component of curb appeal.
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| Landscape architect | A professional who holds a degree in landscape architecture, which involves training in horticulture, landscape design and planning.
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| Landscape contractor | A professional who carries out the plans of a landscape architect or a landscape designer.
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| Landscape designer | A landscape designer has training in horticulture and landscape planning, but does not necessarily hold a degree.
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| Late charge | A fee a lender imposes on a borrower when the borrower does not make a payment on time.
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| Late payment | A payment a lender receives after the due date has passed.
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| Latent defect | An invisible problem in a piece of propertysuch as bad wiring, termite damage or lead paint
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| Lead | A metallic chemical element present in older dwellings, primarily in the form of lead-based paint and lead plumbing. Exposure to lead has been found to be a health risk.
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| Lease | A binding agreement that contains the terms and conditions of a renter's occupancy.
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| Lease option | A lease that contains the right to purchase the property for a specific price within a certain time frame
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