Conditional Insurance

Definition of "Conditional insurance"

Same as term Conditional Sales Floater: coverage for the seller of property on an installment or conditional sales contract if it is damaged or destroyed. For example, a television set is sold on an installment basis but is destroyed by a customer. The seller would be indemnified for the loss.

Search Real Estate Glossary

Related Real Estate Glossary terms

Abandonment Clause

In marine insurance, clause giving an insured the right to abandon lost or damaged property and stil ...

Lender

Person who lends money to a borrower ay a particular interest rate to be repaid at a later date. ...

Lien Period

Time period in which one may carry out a lien on property. ...

Casing

(1) The exposed trim and molding surrounding a door or window. (2) Woodwork which encases a pipe or ...

Reciprocal Exchange

Unincorporated association with each insured insuring the other insureds within the association. (Th ...

Street Improvement

Repairing the street for safety and attractiveness. In some localities, such as on Long Island, the ...

Related Real Estate FAQ

What Are Prepayment Penalties?

A penalty fee charged for paying off a mortgage early, thus allowing banks to still make money off o ...

What Is A Mortgage Broker?

A mortgage broker is an intermediary who ensures a loan between a borrower and lender. The broker ta ...

What Is A Lock In?

A lock in guarantees a certain interest rate for a certain period of time. ...

What Is Accession?

The right of a property owner to have and enjoy all of the advantages of property ownership includin ...

What Is Depreciation?

Depreciation is a decline in the value of property due to general wear and tear, or is also known as ...

What Is A Multiple Listing Service (MLS)?

A multiple listing service is a computerized listing of the homes for sale in an area listed with a ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

What Costs Do Buyers and Sellers Pay On Big Day When Escrow Closes? What is the Best Time of Year to Buy a Home? Home Prices - The Extra Costs How Does The Home Loan Underwriting Process Work? Should you Buy a Home with Cash?

FAQ

What is a lease purchase mortgage? Who is a subagent? What is a mortgagee? What is a sales contract? What is hazard insurance?