| Word: | Definition: |
| VACATED PREMISES | Property from which all military personnel and missions have been vacated.
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| VALID | Having force, or binding force; legally sufficient and authorized by law.
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| VALUATION | The act or process of estimating value; the amount of estimated value. |
| VALUE | Ability to command goods, including money, in exchange; the quantity of goods, including money, which should be commanded or received in exchange for the thing valued; utility; desirability. |
| VARA | A Spanish, Portuguese, and Latin American unit of linear measure, varying from 32 to 43 inches. Also a square vara, as a unit of area. |
| VENDEE | A purchaser; a buyer; the person to whom a thing is rendered or sold.
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| VENDOR | The person who transfers Property by sale.
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| VOID | That which is unenforceable; having no force or effect.
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| VOIDABLE | That which is capable of being adjudged void but is not void unless action is taken to make it so.
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| VOLUNTARY LIEN | Any lien placed upon property with consent of, or as a result of, the voluntary act of the owner. |