Direct Liability


Definition of "Direct liability"

Vivian Sampayo
  Blue Key Properties

Legal obligation of an individual or business because of negligent acts or omissions resulting in bodily injury and/or property damage or destruction to another party. There are no intervening circumstances.


Search Real Estate Glossary

 

Related Real Estate Glossary terms

Attorney-at-law

An individual who has been admitted to practice law in his/her state. He or she is approved to repre ...

Associate In Claims (aic)

Professional designation earned after the successful completion of four national examinations given ...

Perimeter Heating

Warm air heating system where ducts are located in the concrete slab of a building constructed witho ...

Hedging

Method of transferring risk to permit the risk bearer to assume two offsetting positions at the same ...

Postselection Of Insured

Underwriting practice involving regular review of insurance contracts in force with the intent of ei ...

Priority

Preference. Precedence. Something given prior attention. Something having a higher level of ...

Related Real Estate FAQ

What Is A Cap?

A limit on an adjustable-rate mortgage. ...

What Is A Buildable Acre?

A Buildable acre consists of 43,560 square feet of residentially designated buildable land, after ex ...

What Is A Balloon Mortgage?

A type of mortgage in which the loan amount is amortized over the full length of the loan (usually 3 ...

What Is An Amortization?

The process of paying off a loan balance. As you make payments, a certain amount is applied to the p ...

What Happens When A Property Starts To Depreciate?

When a property depreciates it declines in the value of the property due to poor location, dilapidat ...

What Do I Need To Know About Indemnity Insurance?

A principle of insurance which provides that when a loss occurs, the insured should be restored to t ...

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

Agents join here
Add our widget on your Website

Real Estate Advice

10 Tips for Homebuyers What Costs Do Buyers and Sellers Pay On Big Day When Escrow Closes? What is Hazard Insurance? Top Five Reasons Your Home Offer was Rejected When to buy a house

FAQ

How can I protect my Home Office? What is a mortgage? How big is an acre? What is equity? What is a seller disclosure?