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Popular Real Estate Questions

Popular Real Estate Glossary Terms

What is Novation?  What is the definition of novation? Jointly agreeing to provide an equivalent legal obligation or debt for a previous one. Persons to the contract can also be ...

The surplus resulting from an additional amount of capital necessary to act as a supplement to the reserves in the event of unforeseen contingencies that would impair the insurance ...

Maximum age of an applicant or insured beyond which an insurance company will not initially underwrite a risk or continue to insure it. For example, under some forms of renewable term life ...

Surveying the land to determine its suitability for a specific purpose, such as building a high-rise apartment house. ...

Method of classifying risks to establish equitable rates. In many property and liability insurance lines, the location of an insured has a significant impact on the loss experience. For ...