Coinsurance Clause
Provision in an insurance policy that caps the insurer's liability by stipulating that the owner of the property that has experienced damage must have another policy that covers usually at least 80% of the cash value of the property at the time of damage, in order to collect the full amount insured. This serves as an inducement for an individual to carry full coverage.
Popular Real Estate Terms
Road or highway acting as a frontage boundary. ...
Entrance or path to a land parcel. Passageway existing from property. An egress may lead to a roadway or some other form of exit. ...
Provision in a mortgage that requires the final payment to be substantially more than all other payments. ...
Farm land. Land that has trees on it. ...
A special kind of fixed rate mortgage (conventional mortgage) in which the monthly payments are less in the beginning years and more in the later years. After five years it usually levels ...
Document describing the benefits and provisions for people or businesses covered by group insurance. Document in life and health insurance issued to a member of a group insurance plan ...
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The individual who receives an interest in a life estate after the original life tenant's interest expires. This normally occurs after the death of the life tenant. For example, Mrs. ...
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