Definition of "Credit"
- A purchase of real property made on account.
- Loan extended to business or individuals to buy real estate.
- In taxation, a dollar-for-dollar reduction in taxes. An example of a tax credit is the housing rehabilitation credit.
- Form of trust established between a lender and a borrower.
Popular Real Estate Terms
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Written acknowledgment that money has been paid by someone as a deposit into an account or for the purchase of property or services. Examples are a receipt given by the bank for a deposit ...
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