Declaratory Judgment

A property title evidencing ownership such as provided in an abstract of title. There are no contingent liabilities or prior unresolved ownership claims. ...

Person or business that benefits from the work of another person or business. The recipient has not compensated the other party for this gain. In law, the one being enriched at the ...

Worth of property based on the relevant economic factors (e.g., state of the economy, unemployment rate). ...

The net sales price of a piece of property where the commissions and other closing costs are subtracted form the actual sales price. ...

A mortgage requiring a substantial down payment. It is usually only available to those having good credit, and has fixed monthly payments for the life of the loan. It usually has a 30 year ...

An enticingly attractive initial rate below the market offered in an adjustable rate mortgage. For example, the teaser rate may be offered at 2% below market. A borrower who cannot qualify ...

In conducting a real estate transaction, each party is presumed honest and fair with no deceit. The intentions are honorable and realistic. If deception occurs without prior knowledge, the ...

Approach to valuing property based on its replacement cost. The cost of each major element of the property per square foot is added together and multiplied by the total space to estimate ...

A proration is the division of certain fees. If the sellers have paid the taxes six months in advance, for example, they may want a portion of that payment back for the months you are ...

The cost of homeownership in the US is often the main concern of first time home buyers. Is it better to own a property or to rent? Is it better to postpone the purchase of a home or the ...

Equity is the financial interest or cash value of your home, minus the current loan balance(s). If selling the home, this would also be minus any costs incurred in selling the home. If ...

From the beginning, basements were not built to provide living space but a place to hide plumbing, wires and water boilers. Home buyers are always interested in the gross living area of a ...

When you hear someone referring to a real estate agent type as a “general agent”, it might seem that someone is calling that agent “basic”, common. Right? But the ...

Please refer to our directory, where you will be able to browse using Counties and/or Cities. ...

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

To figure out where you stand on the debt-to-income ratio, you must first understand the meaning of the figure. Most lenders use the ratio 28/36. The first number, which is also referred ...