Alien


Definition of "Alien"

Foreign-born individual not qualifying as a citizen of the country in which he or she resides.

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Popular Real Estate Terms

Capacity Of Parties

Legal capability of those involved in mutual assent of making a contract, including an insurance contract. Those who have been deemed to be incompeten ...

Alien Insurer

Insurance company formed according to the legal requirements of a foreign country. In order for an alien insurer to be able to carry on general operat ...

Model Surplus Lines Law

Law that requires that all surplus lines insurance companies maintain a minimum specified amount of capital and surplus; also requires that alien insu ...

Non-Permanent Resident Alien

A non-citizen with a green card employed in the U.S. Non-permanent resident aliens are subject to somewhat more restrictive qualification requiremen ...

Nichification

Proliferation in the number of loan, borrower, property, and transaction characteristics used by lenders to set mortgage prices and underwriting requ ...

Restraint On Alienation

Restriction on conveying property that limits its transferability. The restrictions may be illegal. ...

Popular Real Estate FAQ

What Is A Second Mortgage?

A second mortgage is a type of mortgage on property that has alien already on the first mortgage. This mortgage is usually on the remaining equity in ...

What Is A Buyer's Agent?

On most transactions, there is usually a listing agent and a selling agent. The selling agent is sometimes referred to as the buyer\'s agent, because ...

What Is An Escrow Officer?

An escrow officer - also known as a loan officer - is the person that walks you through the closing process. They are usually employed by the title c ...

What Is Commission?

The fee an agent earns for the sale of a home-usually a percentage of the selling price. ...

Who Is A Subagent?

A subagent is an agent who works with you to purchase a house but is paid by the seller. ...

What Is An Appraised Value?

An opinion of a properties fair market value, based on an appraisers inspection and analysis of the property. ...

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