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
member of the National Association of Real Estate Brokers, Inc. ...
Capability of a party to enter into a contract such as having the financial and physical resources as well as mental competency to meet contractual commitments. ...
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 ...
one having physical existence and a life exceeding one year. It is not kept for resale in the ordinary course of business. An example is a building. ...
Land parcel bounded by two intersecting roadways. ...
The method for splitting a commission between a registered real estate sales person and the sponsoring real estate broker, and between the listing broker and the selling broker, or any ...
the type and value of real estate improvements made as well as the use to which land is put. This is controlled by zoning as well as suitability. For example, in a prime commercial downtown ...
One that is legally binding because it is in conformity with legal requirements and conditions. ...
Professional certification granted by the Institute of Real Estate Management, an affiliate of the National Association of Realtors. ...
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