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
Worth of property based on the relevant economic factors (e.g., state of the economy, unemployment rate). ...
(1) Method of measurement lumber using the board foot cubic measure. The board measure is used to estimate quantities and prices of lumber materials. (2) Method of estimating lumber ...
Legal action between a plaintiff and defendant. ...
English style of architecture characterized by carving and paneling and flattened arches. ...
In between, intermediate, intervening; passing an interest from a principal to a second party and then to a third party. ...
Levied on those benefiting from the installation of a sewer. ...
A mortgage on which the interest rate is constant, but the payments are structured to increase, so the loan is paid off much earlier. ...
An agreement, debt, or low which can be operationalized, fulfilled, completed, or performed. ...
A lease contract to possess a parcel or property for a certain period of time. A leased fee estate is a conditional estate conveyance in real property for a specified period of time. The ...
Have a question or comment?
We're here to help.