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
The modified accrual method is defined as an alternative accounting method that combines the two basic methods of accounting, the accrual method and the cash method. While the accrual ...
The tenant is forced to leave the premises if he complains about the poor condition of the apartment or office space he has leased. This type of eviction is illegal in many states. ...
Person serving as a property administrator for someone who is incompetent due to a mental or physical deficiency. ...
An asset. The term cost is often used when referring to the valuation of acquired property. When it is used in this sense, a cost is an asset. Concepts of cost and expense are often ...
Government compensation to farmers not to grow products to preserve the land and maintain stable agricultural products. ...
Edifice constructed on the to floor of a building usually occupying less than 1/2 the roof area. A penthouse is used for two purposes; one or more luxury apartments directly accessed by a ...
Organization dedicated to creating and furnishing the most timely and effective advice and direction for the professional management and financing of facilities and services for ...
Home of 1 to 3 stories with stucco outside and a roof made of red tiles. ...
Same as term prospectus: Document that must accompany a new issue of securities for a real estate company or partnership. It includes the same information in the registration statement, ...
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