Civil Law


Definition of "Civil law"

Law involving noncriminal issues such as breach of contract, libel, slander, and accidents.

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Popular Real Estate Terms

Stepped-up Basis

An increase in the income tax basis of a property that is a result of a tax-free exchange. As a result of an inheritance, for example, the basis of th ...

Property Owner Association Agreement

A written contract of a group of property owners, typically condominium owners, describing their joint ownership obligations and rights. The associati ...

Butterfly Roof

Inverted gable roof design where the two side slope upward from the center to the eaves with a valley in the middle. The roof resembles the wings of a ...

Annual Cap

Amount the interest rate of a variable rate mortgage can be raised or lowered in any consecutive 12-month period. ...

Book Cost

Expenditures incurred to initially purchase property, including incidental costs necessary to put the property into existing use and location. This co ...

Budgeting

(1) Estimating all income and expenses for an accounting period. (2) Financial forecasting, planning, and controlling. It involves using a budget to s ...

Popular Real Estate FAQ

What Is A Gated Community?

A gated community is a community of homes where you must pass through a security gate in order to enter the community. ...

What Is A Survey?

A survey is an examination of a property\'s boundaries to determine the quantity of land, location of improvements, and other information. Usually the ...

What Are Comparables Or Comps?

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

What Are Paid Advertorials?

Paid advertorials are articles written by public relations professionals that have just one goal in mind - to get you to buy a home. I\'m sure you\'v ...

What Is A Proration?

A proration is the division of certain fees. If the sellers have paid the taxes six months in advance, for example, they may want a portion of that pa ...

What Is A Buyer’s Agent?

An agent hired by buyers to help them find and negotiate the purchase of a home. This agent works for the best interests of the buyers, not the seller ...

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