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
property having an easement right through another adjoining property. The property through which the easement passes is considered to have the servient tenement. ...
Real estate, home and life insurance use numerous ambiguous terms you should know because you can significantly benefit from them. Let’s discover what the word boot usually applies to ...
location where someone stays on a permanent basis. An example is a home to a family. ...
A judicially approved plan in which a persons obligations are paid over three years. It is an arrangement for the repayment of debts which permits a credit user in severe financial straits ...
Any financing agreement excluding a conventional mortgage from a third-person or entity lending institution. This type of financing is more prevalent when the price of real estate is too ...
Legal instrument permitting one to grant others general or specific powers for administering their finances. ...
Decline in the credit status of a prospective homebuyer. ...
Appraisal of a location before the purchase is made of it for potential environmental problems. ...
Discounted value of net cash receipts to be obtained from a property. The present value calculation includes consideration of annual cash inflows plus the disposal value. ...
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