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Popular Real Estate Glossary Terms
Additional tax liability that the IRS deems to be owed by a taxpayer. A taxpayer can argue the correctness of a deficiency with the IRS. There can be an appeal to the Tax Court without ...
Expectation of illness or injury. The probability of such occurrence is shown by a morbidity table, which is important in determining the premiums for health insurance policies. ...
Insurance written on the personal and real property of an individual (or individuals) to include such policies as the home owners insurance policy and personal automobile policy. ...
Section in some property insurance contracts that eliminates further coverage for buildings after they have collapsed from causes other than fire or explosion. For example, fire coverage ...
Market condition in which the prices of real property are declining because of a lack of demand normally associated with a general economic slowdown. ...