Deferred Payments

Definition of "Deferred payments"

Money payments to be delayed for a future date or extended over a period of time.

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Popular Real Estate Terms

Parol Evidence Rule

Permits oral evidence to augment a written contract in certain cases. ...

Warranty Deed

Assures that the title is free of any legal claims including encumbrances. It includes covenants of seizin, freedom from encumbrance, express warranti ...

Lateral And Subjacent Support

The right of a landowner to have lateral land support from adjacent properties. The right of lateral and subjacent support means that an adjacent land ...

Interim Use

Temporary use of property until a formal zoning ruling is reached overturning it. Interim use is a form of nonconforming use of property. ...

Set-off

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Cleaning Deposit

Nonrefundable fee to pay for the painting and cleaning of an apartment or office unit after a tenant vacates the premises. ...

Popular Real Estate FAQ

What Is A Credit Report?

A credit report is a report of all your debt information compiled by an independent agency. The credit report shows all outstanding debt as well as a ...

What Is An Overall Debt Ratio?

An overall debt ratio is the percentage of your overall debt (housing payments plus any other long-term debt) to your monthly gross income. Lenders us ...

What Is A Spec House?

The textbook definition of a spec house is \"one built on a speculative basis, without an order on the books\". Commonly, a buyer will be unsatisfied ...

What Are Discount Points?

Discount points are a type of point paid by the borrower to reduce the interest rate. ...

What Is Depreciation?

Depreciation is a decline in the value of property due to general wear and tear, or is also known as an annual allowance that helps you recover on you ...

What Is A Foreclosure?

A foreclosure is the legal process by which a mortgage property is seized due to default and then sold. ...

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