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Real Estate Glossary Terms

• Prior

  Something coming before. Examples are the year before, first lien on property, and previous owner of property. ...

• Vanishing Premium (premium Offset)

  Life insurance policy under which there is rapid buildup of cash values due to high initial premiums such that after a given point in time no further premium payments are required (future premium payments are borrowed from the cash value). ...

• Washington, D.c. V. Greater Washington Board Of Trade

  Legal decision in which the Supreme Court of the United States ruled that states cannot require employers to provide disabled employees the same health insurance with which they provide active employees. Regulation by states of employee benefit insurance plans is precluded when it relates in any way ...

• Trespasser

  Person who enters property without the right to do so. For liability purposes, it has been held that property owners are not responsible for trespassers as long as they do not intentionally trap or injure them. On the other hand, a property owner can be liable for injury to a person who has been inv ...

• Snowbirds

  Don’t know what snowbirds mean? It’s not birds made of snow. Snowbirds is a nickname given to Canadians and American people that live in the colder northern states, that, during the winter “migrate” – just like a bird – to the south and its warmer weather in orde ...