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Popular Real Estate Glossary Terms
A provision of a loan contract stipulating that if the property is sold the loan balance must be repaid. A mortgage containing a due-on-sale clause is not assumable. This prevents a home ...
An individual's option to fairly utilize another's property. An example is privileges under an easement. For example, a person receives permission to use a lake on the private property of ...
Critical point in the total amount of claims paid above which the excess insurance policy pays a percentage (generally 80-100%) of the claims for any policy year experience. ...
Adjustment in property insurance to reflect increased construction costs. ...
A collection of packaged residential mortgage loans for sale in the secondary mortgage market to investors. Companies with mortgage pools expect to earn a short-term profit and use the ...