Parent Liability

Definition of "Parent liability"

Liability incurred by a parent by reason of a tort committed by his or her minor child.

Search Real Estate Glossary

Related Real Estate Glossary terms

Certified Residential Broker (CRB)

Certification granted by the Realtors National Marketing Institute, which is affiliated with the Nat ...

Liquidated Damages

An amount of money provided for in a contract as compensation if the contract is not fulfilled. An e ...

Book Value

Net worth of property as shown on the balance sheet. It equals gross cost less accumulated depreciat ...

Highly Protected Risk

Exposures where action has been taken to reduce the frequency and severity of loss, such as adding s ...

Assignment Of Policy

Right of a party, the assignor, to allocate the benefits of certain insurance policies to a third pa ...

Static Risk

Damage or destruction of property and/or property that is illegally transferred as the result of mis ...

Related Real Estate FAQ

What Are Comparables Or Comps?

Recently sold properties that are similar in size, location, and amenities to the home for sale. The ...

What Is A Wraparound Mortgage?

A wraparound mortgage is a new mortgage that includes the remaining balance on an old mortgage, plus ...

How Can I Figure Out My Debt-to-income Ratio?

To figure out where you stand on the debt-to-income ratio, you must first understand the meaning of ...

What Do I Need To Know About Watercraft Insurance?

You need separate coverage for the variety of risks you face when storing, launching, hauling or run ...

What Is A Commitment Letter?

A commitment letter is a formal offer of a loan by a lender. The letter states the terms under which ...

What Is A Maintenance Fee?

A maintenance fee is a charge by condominium associations, co-ops, or other homeowners associations ...

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

Agents join here

Add our widget on your Website

Real Estate Advice

How Does The Home Loan Underwriting Process Work? Home Prices - The Extra Costs What do Real Estate Attorneys do? What is Earnest Money Why Use a Real Estate Agent?

FAQ

What do I need to know about Term Life Insurance? What is an appreciation? What is equity? What is escrow? What is an overall debt ratio?