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Popular Real Estate Glossary Terms
Lowest acceptable criteria that a risk must meet in order to be insurable. For example, life insurance companies require an applicant for individual (nongroup) coverages to be free of ...
Capability of a party to enter into a contract such as having the financial and physical resources as well as mental competency to meet contractual commitments. ...
Regular rental of property between the lessee and lessor for a fee. An operating lease does not satisfy the criteria for a capital lease. An example is renting an apartment. A lessee ...
Item falling under Section 57 of the Internal Revenue Code that may result in the imposition of the alternative minimum tax (AMT). These items of otherwise exempt income or deductions or of ...
Primary business district of a city or urbanized area having the areas major governmental offices, professional, and retail businesses represented. ...