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Popular Real Estate Questions

Popular Real Estate Glossary Terms

Legal obligation stemming from a civil wrong or injury for which a court remedy is justified. A tort liability arises because of a combination of a direct violation of a person's rights, ...

Imprecise term still occasionally used by commercial or proprietary insurers to differentiate them from fraternal insurers. "Old line" was apparently meant to make these companies sound ...

An estate which descends to heirs in perpetuum. In an estate of inheritance, the current tenant not only has the right to enjoy the property for life, buy his or her tenancy rights pass to ...

Annual contributions to a pension plan that exceed or are smaller than the minimum required for future employee benefits currently being earned; and any supplemental liability for past ...

Payments made to the insured by the insurance company before the settlement date. For example, a claim is scheduled to be settled on June 1, 2000, but the insurance company pays the ...