Racketeer Influenced And Corrupt Organizations Act Of Rico


Definition of "Racketeer influenced and corrupt organizations act of 1970 (rico)"

Adriel Roman
  HomeSmart Success

Legislation that provides support for legal actions against individuals or organizations involved in systematic illegal activities. This act has been applied against insurance organizations when they were accused of bad-faith failure to pay claims or when there was a question of insolvency.


Search Real Estate Glossary

 

Related Real Estate Glossary terms

Payee Clause

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

Modified Accelerated Cost Recovery System (MACRS)

Term given to two depreciation systems defined by the Internal Revenue Service: The main system ...

Property Damage Liability Insurance

Coverage in the event that the negligent acts or omissions of an insured result in damage or destruc ...

Sliding Scale Commission

Percentage that has an inverse relationship to the loss experience on the business brought in. For e ...

Health Insurance Futures

One-year futures contract (standardized agreement between two parties to buy or sell a commodity or ...

Studs Or Studding

Post-like components of wood that comprise a building frame. For example, a building code in a local ...

Related Real Estate FAQ

What Happens When You Prequalify?

When you are prequalified, the lender gives you an estimate but does not formally commit to giving y ...

What Is An Investment Property?

An investment property is a property you purchase with the intension of using it as a rental income ...

What Is A Seller Takeback?

A seller takeback is a type of financing in which the seller arranges for the financing on a propert ...

What Is Earnest Money?

Earnest money is a deposit you make when you make an offer on a house. ...

What Is Zoning?

Zoning is the laws that establish how a property can be used and what codes must be followed when er ...

What Is A Counteroffer?

A counteroffer is an offer made by one party that makes changes to the original or latest offer of 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

Mortgage Loan Types Build or Buy? That’s the Big Question How To Choose A Realtor 5 signs of house foundation problems What is Hazard Insurance?

FAQ

How Much Will My Principal Be? What is a principal? What is a loan origination fee? What is a down payment? What does computer insurance cover that my warranty doesn't?