Reciprocal Legislation


Definition of "Reciprocal legislation"

Patricia M. Smith
  Bettr Homes & Gardens

Law under which one state gives favorable tax treatment to an insurance company domiciled in a different state that is admitted to do business, provided the second state does the same for companies domiciled in the first state.


Search Real Estate Glossary

 

Related Real Estate Glossary terms

American Academy Of Actuaries

Professional association that sets standards of performance for those engaged in actuarial functions ...

Secondary Mortgage Market

Market where mortgage loans can be sold to investors. The availability of funds for financing real e ...

Nonresident Agent

Agent who is licensed and who markets and services insurance policies in a state in which he or she ...

Reversion

Also called estate in reversion. A vested interest or estate in which a person has a fixed interest ...

Section 457 Deferred Compensation Plan

Plan in which a public employer (such as a university, state, county, or municipality) sponsors a re ...

Projection Factors

Expectations of investment return, mortality experience, and expenses used in projecting future cash ...

Related Real Estate FAQ

What Is A Closing?

The process of finalizing all the dealing associated with the sale and purchase of a home. (Also kno ...

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 APR Loan?

This APR Calculator can be used to estimate the Annual Percentage Rate for a loan based on input par ...

What Are Basis Points?

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

What Is An Assumable Mortgage?

A type of purchase in which the buyer assumes the responsibility of making payments on a sellers hom ...

What Is A Mortgage Broker?

A mortgage broker is an intermediary who ensures a loan between a borrower and lender. The broker ta ...

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

Real Estate Open House - The Dos and Don How is Square Footage Determined? Is it better to buy or sell a home first 3 tips to ensure your sale goes through When to Dispute Your Home Appraisal

FAQ

What is a seller takeback? What is a survey? What is a deed? What is an adjustable-rate mortgage (ARM)? What do I need to know about Universal Life Insurance?