Competent

Definition of "Competent"

An individual legally fit and able to undertake an activity or function.

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Related Real Estate Glossary terms

Dependent Coverage

Coverage under life and health insurance policies for dependents of a named insured to include a spo ...

Maturity Date

Time at which life insurance death proceeds or endowments are paid, either at the death of an insure ...

Rental Contract

A lease. It is an agreement to rent property for a given amount and term specifying the terms and c ...

Rescission

Canceling a legal contract either with the permission of both parties or by one party exercising th ...

Factual Expectation

Strong expectation of an occurrence resulting in a monetary interest that gives rise to an insurable ...

Specific Stop Loss Insurance

Coverage that goes into effect when an individual's claim reaches a specific threshold selected by t ...

Related Real Estate FAQ

What Is An Easement?

An easement is the right given by the landowner to use the property. ...

What Is A Ginnie Mae?

A Ginnie Mae is a name for the Government National Mortgage Association (GNMA), which is a governmen ...

What Is A Wraparound Mortgage?

A wraparound mortgage is a new mortgage that includes the remaining balance on an old mortgage, plus ...

What Is A Gift Letter?

A gift letter is when an individual gives you money for a down payment as a gift, that person must w ...

What Do I Need To Know About Term Life Insurance?

Provides financial protection for a limited, specified period of time, at a lower cost than permanen ...

What Is A Balloon Mortgage?

A type of mortgage in which the loan amount is amortized over the full length of the loan (usually 3 ...

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