William Raveis Real Estate

Real Estate Glossary Terms

• Basis

  Figure or value which is the starting point in computing gain or loss, depreciation, depletion, and amortization. ...

• Falling Out Of Escrow

  One of the parties is unable to satisfy the conditions of the purchase and sale contract. ...

• Cash Value

  Same as term cash surrender value: money the policyowner is entitled to receive from the insurance company upon surrendering a life insurance policy with cash value. The sum is the cash value stated in the money the policyowner is entitled to receive from the insurance company upon surrendering a l ...

• Individual Risk Premium Modification Plan

  In group insurance, adjustment of premiums, because of reduced expenses due to economy of scale. Group Me premiums are subject to negotiation and modification because of administrative savings in dealing with large numbers of people. In contrast, a single person cannot negotiate his or her premium r ...

• Ownership Of Expirations

  Retention of all files of policies sold by the agent of record who, according to written agreement with the insurance company, has the exclusive rights to solicit renewals. ...