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Popular Real Estate Glossary Terms
A mortgage collaterized by a tenant's interest, usually structural improvements, in a leased parcel of property. A leasehold mortgage is subordinate to the landlord's land lease since it is ...
Individual or entity who enters into a contract or other legal proceeding, such as a lawsuit. ...
The meaning of a development impact fee or impact fee defines a one-time cost the local government imposes on a brand new or planned development project (regularly on a property developer.) ...
An improvement to property that is below the standard, usual expectation. An example is when a contractor's work on a house is below the quality that the homeowner reasonably expected for ...
Named peril policy is how it’s called in the Real Estate Industry the insurance policies that specify the perils it covers. Under a named peril policy, if anything that isn’t ...