Circuit Breaker

Original cost of property plus additional capital expenditures made to it less the accumulated depreciation. The realized gain or loss for tax purposes is the difference between the ...

Used to rectify errors made in a previous deed. Such errors can include incorrect spelling of a name, inaccurate property description, or an improper execution. It is often referred to as ...

Person's sole ownership of real property. ...

Last installment payment, substantially greater than the previous installment payments. The unpaid balance of a long-term loan is paid off in a lump sum at the end of the loan term. ...

What does viz. mean? The meaning of viz. derives from the Latin word videlicet which is translated into English as namely, that is, which is, as follows. You may encounter it in legal ...

Formal allegations by all of the parties to an action including complaints, answers, and replies to counterclaims. ...

A contractual clause where one party assumes a liability risk for another. Thus, a hold harmless clause effectively indemnifies the named party from any liability by transferring the risk ...

Monies paid to use property, such as the use of natural resource extractions. The royalty payment is typically based upon some percentage of the income or fee for substances generated from ...

The city of Scottsdale is more than a place to live - it’s also a resort, a tourist destination. So, the job of the Scottsdale Police Department (SPD) is to ensure a fun and relaxed ...

A front-end ratio is a ratio of the borrowers monthly housing expenses-including principal, interest, property taxes, and insurance (OITI)-compared to the borrowers gross, pretax monthly ...

Hey, don’t feel ashamed for not knowing what is the difference between a real estate broker and a real estate agent. This is truly one of the most common real estate confusions out ...

Basement remodels add more beautiful living space and are usually treated like new construction. This means that it increases your home’s assessed value and therefore an increase in ...

A penalty fee charged for paying off a mortgage early, thus allowing banks to still make money off of the loan in the event that you inherit a small fortune. Most loans these days do not ...

A basic policy is a homeowners insurance policy that covers certain perils. ...

A seller takeback is a type of financing in which the seller arranges for the financing on a property. ...

Do real estate agents work with home renters? Yes, they do. To be honest, real estate agents are willing to work with everyone. There are some who are specialized in sales and not rentals, ...