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Popular Real Estate Glossary Terms
Actual price paid for property when acquired, minus depreciation. Original cost less depreciation is used to compute actual cash value, which is often the insurable interest in a property. ...
Intentionally misstated or undisclosed facts, statements or representations. Misrepresentation is a form of fraud which could lead to cancellation of a contract or other liability. For ...
An opening with a hinged cover allowing access from one level to another in a structure. Often installed in a roof or the floor of a building to allow the entrance of people and materials ...
Same as term deed of trust: A document that conveys title to a neutral third party (trustee) during the period in which the mortgage loan is outstanding as collateral for a debt. ...
Policies that have been sold to and paid for by an insured, but not yet delivered to the insured. ...