Cloud On Title
Also called a title defect. Any claim, lien, or encumbrance which, if valid, may impair the owners title to the property. This cloud does not hinder transfer of ownership on the property, but may reduce its market value. See also quitclaim deed.
Popular Real Estate Terms
Rule stating that the monthly mortgage payment, property taxes, and insurance should not exceed 25% of a family's monthly gross income, or about 35% for a Federal Housing Administration ...
Expecting or looking forward to something happening. ...
Federal agency that aids veterans of the armed forces. For example, it guarantees a home loan for up to a predetermined dollar amount or percentage of the loan balance, whichever is less. ...
3D Printed Homes are basically homes that were printed via 3D Printers. Though semantically the phrase is pretty obvious and straightforward, there’s a lot we need to contextualize ...
Anything that has physical substance and form, such as land and buildings. ...
Predetermined price for a contract that will be the same irrespective of the actual costs incurred to complete it. This contract is advantageous to the buyer because he knows beforehand ...
Permits oral evidence to augment a written contract in certain cases. ...
Also called "Grey Shell, "Bare Shell," and "Artic Shell," a Cold Shell could be described as the more radical version of a Vanilla Shell. So, what does precisely the Cold Shell definition ...
A wall or roof which extends beyond a lower wall. ...
Have a question or comment?
We're here to help.