Assumption Clause

Street terminating at one end with only one outlet. A dead end street is not a through street. See also cul de sac. ...

Situation in which a purchaser acquires mortgaged property and continues to pay the mortgagee for the debt outstanding. Although the new buyer continues to pay the mortgagee for the debt ...

A ground lease that includes only the cost of leasing the land for a period of years. Normally, a land lease is valid for an extended period of time anticipating that improvements will be ...

U.S. tax law that consists of regulations and rules to be followed by taxpayers. The Internal Revenue Code of 1954 is continually revised and amended over time. ...

English architecture. This style has two levels with the second level typically overlaying the first story. The roof is high and the chimney is sculptured. ...

A simple box-shaped house with clapboard siding and a gable roof. ...

Type of property distribution occurring when a person dies intestate. The estate id divided by the children of the deceased and by their children. For example, if a husband dies intestate, ...

The person to whom a debt or obligation is owed. ...

There’s been a lot of demand for QR codes for real estate signs as they became a fabulous way to go beyond the advertising nature of the traditional static “for sale” ...

When a home is marked “as is”, it means the home seller will not take part on any renovations, will not fix any defects the home buyer might bump into. If the home buyer wants ...

A negative amortization is a type of loan situation that occurs when the monthly payments do not cover the principal or interest. Instead of declining, the balance of the loan actually ...

Wondering how to calculate the fair market value of a property? It helps if you understand that it’s all about an estimate; you’ll hardly bull’s-eye-it. Fair market ...

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 he works on the buyer\'s behalf and it ...

A commitment letter is a formal offer of a loan by a lender. The letter states the terms under which the lender has agreed to the loan. ...

You’re researching your options regarding a homeowner’s insurance policy and you’re wondering which to get; there are so many! Then, your real estate agent, a great ...

Equity is the financial interest or cash value of your home, minus the current loan balance(s). If selling the home, this would also be minus any costs incurred in selling the home. If ...