Definition of "Contract"
Agreement between two or more individuals whereby each party agrees to do or not to do some act. The parties have reciprocal obligations of performance or actions.
Popular Real Estate Terms
Permanent structure protruding from the side of a building. In addition to providing shelter, a marquee is often used as an advertising format. For example, a movie theater marquee lists ...
Structure not directly belonging to a property but considered a part of it through the use of an easement of common consent. ...
The Ellwood method based on a multiplier of mortgage-equity to determine the value of income-producing property. ...
An obligation of the owner of property that is recorded with his permission such as a mortgage. Encumbrance on property without being objected to by the owner. ...
unfinished access space below the first floor having less height than a full story. An individual must crawl through the crawl hole to gain access. Any interior passage of limited ...
A narrow passageway between buildings providing secondary rear access. ...
Situation where a neighbor hood is gradually occupied by progressively lower income people. ...
A closed-end mortgage is a mortgage in which the collateralized property cannot be used as security for another loan. See also open-end mortgage for a better understanding of the ...
Blockbusting is a despicable and illegal racist business practice. Here’s how Blockbusting happens: a real estate agent, or someone posing as one, comes to a homeowner and instills ...
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