Contract For Novation

A property title evidencing ownership such as provided in an abstract of title. There are no contingent liabilities or prior unresolved ownership claims. ...

Person or business that benefits from the work of another person or business. The recipient has not compensated the other party for this gain. In law, the one being enriched at the ...

Worth of property based on the relevant economic factors (e.g., state of the economy, unemployment rate). ...

The net sales price of a piece of property where the commissions and other closing costs are subtracted form the actual sales price. ...

A mortgage requiring a substantial down payment. It is usually only available to those having good credit, and has fixed monthly payments for the life of the loan. It usually has a 30 year ...

An enticingly attractive initial rate below the market offered in an adjustable rate mortgage. For example, the teaser rate may be offered at 2% below market. A borrower who cannot qualify ...

In conducting a real estate transaction, each party is presumed honest and fair with no deceit. The intentions are honorable and realistic. If deception occurs without prior knowledge, the ...

Approach to valuing property based on its replacement cost. The cost of each major element of the property per square foot is added together and multiplied by the total space to estimate ...

To figure out where you stand on the debt-to-income ratio, you must first understand the meaning of the figure. Most lenders use the ratio 28/36. The first number, which is also referred ...

Wondering what is the difference between a condominium and an apartment? Well, differently from the difference between an apartment and a flat, this one is not so much related to word ...

Wondering how to stop a lien on your property? Well, there is one pre-emptive measure of including in your bilateral contract that failing to comply with whatever obligations the ...

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 ...

When a home is marked “as is”, it means the home seller will not take part on any renovations, will not fix any defects the home buyer might bump into. If the home buyer wants ...

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 ...

From the beginning, basements were not built to provide living space but a place to hide plumbing, wires and water boilers. Home buyers are always interested in the gross living area of a ...

Came here wondering if you need a permit to build a bunker? Of course you do. Come on, this is America; you need a permit to build anything! Especially a deep earth bunker, which might go ...