Definition of "Bylaws"
Regulatory rules that have to be followed by the organization in conducting its activities.
Popular Real Estate Terms
People often use the term in their everyday discourse, yet many wonder what the meaning of common law genuinely implies. Common law refers to a system of jurisprudence based on court ...
Expenditures pay by the owner of house to keep and maintain it including real estate taxes, interest on a mortgage, repairs and maintenance, and capital additions (e.g., new roof, new ...
System of interconnected pipes, radiators, and/or ducts designed to heat a building utilizing a main heating unit. The system is controlled through a thermostat that regulates the ...
Economic policies designed to reduce the fluctuation in the business cycle. An example is Federal reserve monetary policies. An attempt by an underwriter to prevent a market price of a ...
Ownership interest in property that is above the minimum needed to meet uncertainties or a downward trend in real estate market. ...
Charges billed for services rendered. They may be on a flat basis or on an hourly rate. ...
Periodic expenditures undertaken to preserve or retain a property's operational status for its originally intended use. These expenditures do not improve or extend the life of the property. ...
national trade association of people engaged in the mortgage banking business, dedicated to the betterment of the mortgage banking industry through education, legislation, and high ethical ...
Lien on a given property, such as an person's house as a collateral for a loan. ...
Comments for Bylaws
I purchased a lot in a community that has a restriction one breaking up partials of land that I wasn't aware of. What are my options now? and what am I liable for?
Oct 30, 2018 16:30:48Ed, we suggest you talk with a real estate lawyer. Maybe the laws of your city do require that the home seller discloses that information and, if that's the case, maybe you can have the money back or make him/her responsible for whatever fees should that be the case. But find a LOCAL real estate lawyer to better inform you. Good luck!
Oct 30, 2018 16:35:52Who is bound by real estate community restrictions, buyer or seller?
Oct 30, 2018 10:33:43Hey Ed,
Anyone who lives within that community is bound by its restrictions, so, in a way, both. Once the seller leaves the community he or she is no longer bound to those restrictions. Once the buyer becomes a resident, he or she becomes bound by its restrictions.
Oct 30, 2018 15:13:06Have a question or comment?
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