Dufrene Realty Group

Real Estate Glossary Terms

• Commercial Banks

  The largest financial intermediaries directly involved in the financing of real estate. Commercial banks act as lenders for a multitude of loans. While they occasionally provide financing for permanent residential purchases, commercial banks primary real estate activity involves short term loans, pa ...

• Construction Insurance

  Property coverage for damage or destruction of structures in the course of construction. For example, the standing frame of a house destroyed by fire would be covered. ...

• Federal Trade Commission (ftc)

  Government agency, under the McCarran-Ferguson act (public law 15), that has no authority over insurance matters to the extent the states regulate insurance to the satisfaction of Congress. However, this does not prevent the FTC from conducting investigations into the insurance industry. For example ...

• Shore Clause

  Provision in marine insurance listing onshore perils covered. In the case of marine cargo, these may include such occurrences as damage from flooding, sprinklers, collapse of docks, and wharf or warehouse fires. It may also cover damage from accidents during ground transportation. ...

• Universal Life Insurance

  Adjustable life insurance under which (1) premiums are flexible, not fixed; (2) protection is adjustable, not fixed; and (3) insurance company expenses and other charges are specifically disclosed to a purchaser. This policy is referred to as unbundled life insurance because its three basic elements ...