Statutory Surplus

Definition of "Statutory surplus"

Excess funds above the amount required to establish legal reserves for the policies in force. These excess funds are generated as the result of mortality savings, excess interest earned on investments (an amount above that expected), and expense savings.

Search Real Estate Glossary

Related Real Estate Glossary terms

Revaluation

Reconsideration of the value of real property. An example is getting property appraised each year t ...

Warranty

Guarantee by a seller to a buyer to satisfy, for a specified time period, problems in the quality or ...

Feasibility Study

Evaluation of a contemplated project or course of action, according to pre-establisher criteria to d ...

Payee

recipient. insurance company that receives a premium payment from a payer. insured or beneficiary w ...

Insurability Conditional Premium Receipt

Offer made by the insurance company to insure an applicant, provided the applicant is insurable acco ...

Property Insurance Coverage

Coverage for direct or indirect property loss that can be analyzed under the following headings: Pe ...

Related Real Estate FAQ

What Is A Title?

A title is the right of property ownership. ...

What Is Equity?

Equity is the financial interest or cash value of your home, minus the current loan balance(s). If s ...

What Is Title Insurance?

Title insurance is insurance that protects the lender and buyer against any losses incurred from dis ...

What Is A APR Loan?

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

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 Preapproved Mean?

When you are preapproved, you have a definite commitment from a lender ...

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

Agents join here

Add our widget on your Website

Real Estate Advice

Build or Buy? That’s the Big Question 7 Tips for a First Time Homebuyer 10 Tips for Homebuyers 5 signs of house foundation problems What is Escrow and how does it Work?

FAQ

How Much Can I Afford ? How big is an acre? What does the Real Estate Settlement Procedures Act (RESPA) require? What is comprehensive homeowners insurance? What is a proprietary lease?