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Popular Real Estate Glossary Terms
Conveyed by an executor. If the testator to a will does not expressly give the executor authority to convey the property, the probate court must authorize it. ...
Same as term Captive Insurance Companies Association (CICA): trade association located in New York City, consisting of approximately 200 captive insurance companies. The objective of the ...
Loan service charge; each point equals 1% of the amount of the total mortgage loan, which must be paid up front when a home is purchased. It is a one-time, immediate charge that increases ...
Initial offer to buy or sell answered with a revised offer. For example, a buyer offers $500,000 for a home put on the market. The owner rejects the offer but submits a counteroffer for ...
Demand without foundation, such as a claim submitted to an insurance company by an insured who caused a loss, or for a loss that never occurred. ...