Curable Penalty


Definition of "Curable penalty"

Penalty charge in order to cure a previous wrong.

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Popular Real Estate Terms

Gross Domestic Product (GDP)

Measure of the value of all goods and services produced by the economy within its boundaries and is the nation's broadest gauge of economic health. GD ...

Income Yield

Same as term capitalization rate: Also called cap rate or income yield. A useful way to compute the rate of return on a real estate investment. It equ ...

Island Zoning

Same as term spot zoning: Zoning a portion of land in a given area for different purposes than its surrounding functions. For example, a locality may ...

Nunc Pro Tunc

Latin: now for then. Descriptive of actions which are performed after a deadline has elapsed, but retroactively have the same effect as if they were c ...

Sevient Estate

Land subject to an easement. ...

Joint And Several Liable Lease

A lease having two or more joint lessees who share a common liability with a lessor. Under a joint and several liable lease the lessor may demand the ...

Popular Real Estate FAQ

What Is A Term?

A term is the length of a loan. ...

What Is A Front-end Ratio?

A front-end ratio is a ratio of the borrowers monthly housing expenses-including principal, interest, property taxes, and insurance (OITI)-compared to ...

What Is A Sales Contract?

A sales contract is the contract you draw up when you want to make an offer on a home. ...

What Is A Treasury Index?

A treasury index is an index used to determine interest-rate changes for certain adjustable-rate mortgages (ARMs). This index is based on the results ...

What Is An Inspection?

An inspection is a close and thorough examination of a house and property. A licensed individual usually does the inspection. ...

What Is An Investment Property?

An investment property is a property you purchase with the intension of using it as a rental income or for investment purposes rather than to live in. ...

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