Same as term reversion: Also called estate in reversion. A vested interest or estate in which a person has a fixed interest in the future. For example, if a grantor is required by the IRS ...
The right of a landowner to have lateral land support from adjacent properties. The right of lateral and subjacent support means that an adjacent land owner may not, for example, lower or ...
Money paid for a real estate project or investment that can be taken off on the tax return as an expense.
Expenditures made during construction of a building that do not go directly into ...
Legal responsibility for something. For example, an owner of commercial property (e.g., restaurant) is legally obligated for damages on that property (e.g., restaurant patron falls and ...
Insurance coverage against specified losses that arise from the dishonest acts or defalcations of employees. This bon may be applied to persons or positions. ...
Cubic unit of measure for a board one-foot long, one-foot wide and one inch thick, or 144 cubic inches. These measurements are not actual, since they are stated prior to finishing and ...
Changes made by a lessee to property during the term of the lease. In general, if the changes are permanent such as the addition of a building to lease land, the ownership of the building ...
A treasury index is an index used to determine interest-rate changes for certain adjustable-rate mortgages (ARMs). This index is based on the results of auctions the U.S. Treasury holds for ...
You know what is the truest answer to “who can put a lien on your house”?
Yourself.
We’re not trying to be smart here; it’s the truth. Failing to pay up a ...
A contingency is a provision included in a sales contract stating that certain events must occur or certain conditions must be met before the contract is valid. ...
An overall debt ratio is the percentage of your overall debt (housing payments plus any other long-term debt) to your monthly gross income. Lenders use this ratio-sometimes called the ...
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