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Popular Real Estate Questions

Popular Real Estate Glossary Terms

Buy-sell agreements found in partnerships, sole proprietorships, and close corporations. Either the business entity or the surviving members of the business agree to buy out the interest of ...

Same as term Annual Statement: report that an insurance company must file annually with the State Insurance Commissioner in each state in which it does business. The statement shows the ...

State law that stipulates that goodwill as an admitted asset cannot be greater than 10% of adjusted surplus. ...

Clause in most property insurance policies that excepts coverage for loss from a nuclear reaction or radiation, or radioactive contamination. (However, a fire resulting from one of these ...

A letter from a lender verifying that the price and other terms of a loan have been locked. Borrowers who lock through a mortgage broker should always demand to see the lock commitment ...