Case Laws

Tax term describing current and necessary business expenses. Ordinary and necessary business expenses do not include long-term capital losses. For example, the XYZ stationary store deducts ...

Series of sloping horizontal slats most frequently mounted in doors and windows permitting the passage of air while restricting vision and preventing rain from entering the building. ...

Government program of providing low interest rate mortgages to low-income qualified buyers. In the tandem program, the Federal National Mortgage Association (FNMA) purchases low interest ...

Exchange of products or property between individuals in which no cash is paid. ...

Expected period of benefit used to depreciate business property, plant, and equipment. The guidelines may be developed by the industry or Internal Revenue Service (IRS). ...

Possession and use of a property estate by virtue of a lease. There are four types of leasehold estates: estate for years, periodic tenancy, tenancy at will, and tenant at sufferance. ...

Something that is illegal. An example is an unenforceable debt because it has exceeded the statute of limitations. ...

Property that shares a common border, is contiguous, and touching. ...

A condominium is a form of home ownership in which the owner owns the airspace within the walls but doesn't own the actual walls, ceilings, or floors of the home. ...

An overall debt ratio is the percentage of your overall debt (housing payments plus any other long-term debt) to your monthly gross income. Lenders use this ratio-sometimes called the ...

Here you are asking us: “Do I have a lien on my home?” We don’t know. Do you? Here are some of the reasons why one would have a lien on their home: Defaulting. ...

A treasury index is an index used to determine interest-rate changes for certain adjustable-rate mortgages (ARMs). This index is based on the results of auctions the U.S. Treasury holds for ...

Yes, you can use two realtors® to sell your house. Actually, more than two. You can use how many you’d like. It’s what is called an Open Listing. In it, the home seller ...

Wondering how to stop a lien on your property? Well, there is one pre-emptive measure of including in your bilateral contract that failing to comply with whatever obligations the ...

A rate lock is a commitment issued by a lender to a homebuyer or to the mortgage broker guaranteeing a specific interest rate for a specified amount of time. ...

Recently sold properties that are similar in size, location, and amenities to the home for sale. These properties help an appraiser determine the fair market value of a property. ...