License Bond

Definition of "License bond"

Instrument that guarantees compliance with various city, county, and state laws that govern the issuance of a particular license to conduct business.

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Related Real Estate Glossary terms

Primary Mortgage Market

Mortgage market in which original loans are made by lenders. The market is made up with lenders who ...

Right Of Way

An individual is typically allowed by law to walk over another individual's land to get some place. ...

Family Policy

Contract providing whole life insurance on the father and term insurance on the mother and all child ...

Contract Rent

Amount of rent specified in the lease contract. ...

Nominal Loan Rate

the loan rate stated on the face of the loan note. The nominal loan rate is not the same as the effe ...

Discovery Period

Clause in a bond that permits a principal who was formerly insured by the bond to report a loss to t ...

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What Is A Housing Ratio?

A housing ratio is the percentage of your housing payment (principal, interest, taxes, and insurance ...

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

What Is An APR And What Does It Include?

An APR stands for an ANNUAL PERCENTAGE RATE. This rate includes the costs of any points paid, mortga ...

What Is A FHA Mortgage?

A FHA mortgage is when the government guarantees Federal Housing Authority loans. You can put down a ...

What Is A Treasury Index?

A treasury index is an index used to determine interest-rate changes for certain adjustable-rate mor ...

What Is A Gated Community?

A gated community is a community of homes where you must pass through a security gate in order to en ...

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What is a FHA mortgage? What is homeowners association (HOA)? What is a term? What are basis points? What is a conventional mortgage?