Section K Plan

Definition of "Section 408 (k) plan"

Section of the Internal Revenue Code that provides for SIMPLIFIED EMPLOYEE PENSIONS (SEP).

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Related Real Estate Glossary terms

Business Automobile Policy (bap)

Coverage for automobiles used by a business when a liability judgment arises out of the use of the a ...

Credit Risk

Possibility that a borrower will not be able to service the debt (pay the interest on the borrowed f ...

Adjusted Tax Basis

Original cost of property plus additional capital expenditures made to it less the accumulated depre ...

Client

Person who engages an agent or broker for advice and possible purchase of insurance. ...

Rentable Area

Geographic area that is attractive to prospective tenants. Square footage in an office building o ...

Wraparound Mortgage (trust Deed)

Also called all inclusive trust deed (AITD). A mortgage (trust deed) that encompasses existing mortg ...

Related Real Estate FAQ

What Is Joint Tenancy?

A joint tenancy is an equal, undivided ownership in a property by two or more individuals. ...

What Is Cooperative?

Cooperative is a form of home ownership in which you own shares in a corporation. In return for the ...

What Is An Interest Rate?

An interest rate is the percentage the lender charges you for borrowing money. ...

What Is Long Term Care Insurance?

Long-term care refers to a broad range of medical and personal care services designed to assist indi ...

What Is Principal?

Principal is the amount of money borrowed and still owed on a loan not including the interest. ...

What Is A Gift Letter?

A gift letter is when an individual gives you money for a down payment as a gift, that person must w ...

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FAQ

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