(1) Temporary and symbolic payment showing good faith and obligating two or more individuals until a final transaction takes place. The binder is typically returned if the final agreement is not consumed. (2) Deposit paid to secure the right to buy a house based on the agreed terms. (3) Written memorandum of the contract terms of insurance that provides temporary protection to the insured pending final approval by the insurance company.
Popular Real Estate Terms
Generally, a legal notice implies a method of official notification to an individual, organization, company, or the public that a particular event is about to occur. We can call a ...
federal tax on gifts made and estate proceeds. ...
Roof having less than a 10 degree slant. ...
Payment made instead of taxes, For example, a tax-exempt institution, such as a state government complex of buildings, may make an offsetting in lieu of tax contributory payment to the ...
The term assessed value is used to define the dollar value of a property for the applicable taxes. The evaluator, a tax assessor, determines the property’s assessed value for tax ...
The restitution of a property insurance policy that has lapsed due to nonpayment of premiums. ...
Geographic location that is gradually being developed as an urban area. ...
Misuse, alteration, destruction, or neglect of land by an individual right-fully in possession that breeds a significant and permanent reduction of its value to the legal interest owned by ...
A deed in which two or more people in an indenture agreement have reciprocity and obligations toward each other. ...
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