Covenants Running With The Land.
Written agreement, guarantee, pledge, or promise annexed to the land between two or more parties to do or not to do something and is transferred to successive title holders. For example, in exchange for donating a parcel of land to the community, Jones adds a covenant running with the land that the property would forever be used only for educational purposes.
Popular Real Estate Terms
A roof having two slopes on each side. The second slope is longer than the first part of the roof and extremely steep. ...
revising the terms of a loan such as when the borrower is experiencing severe financial difficulties. For example, a homeowner lost his job and seeks relief by requesting the lender ...
Economic principle determining the market prices of goods, services, and property. The principle states there is a pricing relationship between supply and demand for real property. Economic ...
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 ...
federal law protecting someone in active service from bank foreclosure of their property that was bought before entering the armed services. ...
People say time is money. The old-age cliche applies more than ever in our case as we define what the Time Value of Money (TVM) means. You’ll find the term time value for money ...
Substituting one party for another in an action giving that party full rights or claims. Foe example, an insurance company pays the insured for a fire loss caused to the home by a third ...
Process of the borrower giving the lender security to obtain the loan. ...
Nationwide group of independent real estate brokers who cooperate together and share information regarding clients who are seeking to relocate from one area of the country to another. The ...
Have a question or comment?
We're here to help.