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Popular Real Estate Questions

Popular Real Estate Glossary Terms

Usual operating service life of property for the purpose it was acquired. The useful life used for depreciation accounting does not necessarily coincide with the actual physical life or any ...

Predecessor of special multiperil insurance (SMP) policy and commercial package policy, which covered property of manufacturing installations, in at least two different locations, including ...

The definition of a will is an individual's written statement of how he or she wants their property to be distributed upon death. There must be witnesses for the will to be enforceable. ...

Clause requiring an insured to cooperate with an insurance company by producing all evidence requested in settlement of a claim. The company may have difficulty settling a claim without the ...

Right to an item belongs to the public at large so anyone can use it. An example is a real estate software program that is publicly available by an electronic bulletin board service. ...