Condo Conversion
Definition of "Condo conversion"
Conversion of a rental apartment house to individual condominium ownership of a portion of the minimum ownership of a portion of the building. Often, the tenant is given an opportunity to buy into the condo conversion at a favorable price prior to it being offered on the open market. If the tenant refuses to buy into the condo conversion after a certain period, he or she must vacate the premises.
Popular Real Estate Terms
When looking for the definition of a land surveyor, most definitions are quite simple and concise: a land surveyor is a person who measures the distance between two points, the angle ...
Interest rate on a mortgage that moves up or down based on some variable such as an index of lender's cost of funds, inflation rate, or prime rate. ...
An adversary hearing allows both parties to an issue to present their views. A public procedure performed by an administrative or legislative body to investigate certain matters and ...
Situation in which a business debts exceed the fair market value of its assets. ...
Person who leases rented premises from the initial lessee. The sublease is for a time not exceeding the original lease period. ...
Fibrous, fire-proofing material that was used in buildings and homes for insulation. ...
The definition of a storm ready community is any community across the country that demonstrates it has the means to prepare and educate the population for severe weather conditions. ...
(1) The interest rate charged on a construction loan. (2) The rate at which construction loan progress payments are made. See also bridge loan; bullet mortgage; development loan. ...
Legal abbreviation meaning with husband. ...
Have a question or comment?
We're here to help.