Pay

Definition of "Pay"

Abbreviation for premium payment. It usually applies to a limited number of annual premium payment policies such as a ten-day policy.

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Related Real Estate Glossary terms

Basic Limits Of Liability

Required minimum amounts of coverage that an insurance company will underwrite. For example, for aut ...

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Trust in which assets are controlled through several generations and makes use of generation-skippin ...

Real Estate Settlement Procedures Act (RESPA)

U.S. law covering the procedures in some types of real estate closings. Its objective is to have u ...

Federal Crime Insurance

Protection under the auspices of the federal government where such insurance cannot be purchased by ...

Jurisdiction

Geographical area for which a given governmental agency has authority and responsibility. For exampl ...

Pure Risk

Situation involving a chance of a loss or no loss, but no chance of gain. For example, either one's ...

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