Corporation
Business organized as a distinct legal entity with ownership evidenced by shares of stock. To form a corporation, "articles of incorporation" must be filed with the state. When approved, the state issues to the real estate company a "certificate of incorporation". The two documents in combination are referred to as the "corporate charter". each founding stockholder receives a certain number of shares of stock. A stockholder may sell his or her shares to others. A corporation is a legal entity separate from its owners. Advantages of the corporate form are unlimited life, limited liability of owners, ease to transferring stock, ability to obtain significant funds through public issuance of securities, and professional management.
Popular Real Estate Terms
Same as term financial institutions: Institutions acting as intermediaries between suppliers and users of money. The financial markets are where those wanting funds are matched with those ...
(1) Financial ability and soundness of a business or individual to afford the purchase of property. (2) Worth of the dollar in real terms considering inflation. ...
Assemblage in real estate is the process of combining multiple small plots of land into one larger plot. This is accompanied by plottage, which is the increase in value that occurs when ...
Standard precut lumber sizes for lumber industry needs. The typical sizes are 2 to 5 inches thick by 5 to 12 inches wide. ...
Material used for covering the surfaces of walls or ceilings. Plaster used to be made from plaster of paris, but is now primarily made from cement mixed with sand and water. After plaster ...
Same as term junior mortgage: Mortgage placed on a property after a previous mortgage. It can be a second, third, etc. mortgage. A junior mortgage is subordinate to the terms of a previous ...
Increasing prices during a slowdown in economic activity. ...
As a legal term, abandonment defines a deliberate renunciation of rights to an asset or a business relationship. What does abandonment mean in real estate? In real estate, abandonment, ...
The floor of a building closets to the building grade. Normally, the ground floor of a building is the first floor. A ground floor can sometimes be located between the first floor and the ...
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