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

The period when a financial debt, such as a mortgage, must paid. ...

Cash outlays required to maintain an investment position. ...

Significant information that if disclosed would affect an individual's decision. For example, a buyer would probably not enter into a contract with a seller of real property if it was known ...

Danger, hazard, risk, or peril. For example, jeopardizing a piece of property by pledging it as collateral for a loan. ...

Civil rights acts passed by the U.S. Congress includes those of 1866, 1870, 1871, 1875, 1964, and 1968. The first two acts gave blacks the rights to be treated as citizens in legal actions, ...

The definition of front foot is a person or an entity that has an advantage or has the initiative. It could also be used to suggest that someone is taking an offensive position. Based on ...

Lines determined by a government rectangular survey laying out a standard six-mile square area of land. ...

Major lease in a structure that controls subleases. An example is a landlord and attorney entering into a main lease for the third floor offices of building. This lease takes precedence ...

The closing process is the final step of a property sale. It starts when the home seller agrees to the home buyer’s offer and it ends after all Closing costs are paid ...

Popular Real Estate Questions