Definition of "Compensation"

Money and nonmonetary consideration given to employees for work performed. The reward will typically be increased the better the job is done. Salary and fringe benefits are a major cost of a business so the amount paid must be within the financial abilities of the entity. Compensation depends on union contract and must not violate any laws.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

Money raised by a syndicate promoter and placed into a fund prior to selecting the specific property in which funds will be invested. ...

The definition of acoustical materials is a wide range of materials that are used in construction or technology to provide soundproofing. There are different types of acoustic materials ...

Site where mobile homes are located. Mobile home parks are often mandated by municipal zoning laws. They provide necessary utilities to the mobile homes often including recreational ...

Situation in which a purchaser acquires mortgaged property and continues to pay the mortgagee for the debt outstanding. Although the new buyer continues to pay the mortgagee for the debt ...

Allocating the price paid to purchase to or more properties based on their appraised values. ...

Generally, the definition of a deposition means a pre-trial and out-of-court testimony that is given under oath. A deposition is integral to the discovery process to establish a ...

Law enacted by a local authority applicable to the action of people or things. An example is a fine of $5,000 for littering vacant real estate. ...

(1) A persons permanent and legal place of residence. While an individual may have one or more residences, it is only possible to have one permanent address. (2) The state where one has ...

Any written evidence or tangible material which can be reproduced as written material which is coherent and related to the subject at hand. This includes documents, contracts, inscriptions ...

Popular Real Estate Questions