Payee Clause

Definition of "Payee clause"

Clause in an insurance policy that provides for the payment of a monetary sum to the individual (s) who incurred the loss.

Search Real Estate Glossary

Related Real Estate Glossary terms

Nonrenewal Clause

Provision in a policy that states the circumstances under which an insurer may elect not to renew th ...

Income Statement

Also called profit and loss statement. A financial statement depicting a business entity's operating ...

Parol Evidence Rule

Rule that prohibits the introduction into a court of law of any oral or written agreement that contr ...

Referral

Recommending the use of another person or business. An example is an attorney referring a client to ...

Lot Line

A boundary line for a lot described in a plat book. ...

Substantial Owner

Effective proprietor of a business. Under the tax reform act of 1986, a uniform accrual rule prevent ...

Related Real Estate FAQ

What Is A REALTOR®?

A REALTOR® is an agent or agency that belongs to the local or state board of REALTORS® and is affi ...

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 Debt-to-income Ratio?

A debt-to-income ratio is the percentage of a persons monthly earnings used to pay off all debt obli ...

What Are Basis Points?

Basic points relates to changes in the interest rate for your home. ...

Why Should I Use A Real Estate Agent?

A real estate agent is more than just a \"sales person.\" They act on your behalf as your agent, pr ...

What Does An Appraisal Mean?

An appraisal is an estimate of the value of a certain property by a qualified, independent individua ...

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

Agents join here

Add our widget on your Website

Real Estate Advice

When to buy a house What Must I Disclose When Selling My Home? How To Sell Your Home How Does The Home Loan Underwriting Process Work? 5 signs of house foundation problems

FAQ

How can I protect my Home Office? What do I need to know about Business Insurance? What is an inspection? What is an appraised value? What is a lease purchase mortgage?