Demised Premises

Major city in a metropolitan area. ...

Same as term reversion: Also called estate in reversion. A vested interest or estate in which a person has a fixed interest in the future. For example, if a grantor is required by the IRS ...

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 owner may not, for example, lower or ...

Money paid for a real estate project or investment that can be taken off on the tax return as an expense. Expenditures made during construction of a building that do not go directly into ...

Legal responsibility for something. For example, an owner of commercial property (e.g., restaurant) is legally obligated for damages on that property (e.g., restaurant patron falls and ...

Insurance coverage against specified losses that arise from the dishonest acts or defalcations of employees. This bon may be applied to persons or positions. ...

Cubic unit of measure for a board one-foot long, one-foot wide and one inch thick, or 144 cubic inches. These measurements are not actual, since they are stated prior to finishing and ...

Changes made by a lessee to property during the term of the lease. In general, if the changes are permanent such as the addition of a building to lease land, the ownership of the building ...

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 ...

Yes and no.The yes part of the answer is pretty standard; we’ve been covering it in the many many articles we put out on our real estate advice and tips page exposing the ...

You came in here looking to find out what happens when a property starts to depreciate but the truth is that the question comes from a false premise because not all properties depreciate. ...

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 ...

A Good Faith Estimate is when a lender must give a prospective homebuyer a written estimate of closing costs within three days of submitting a mortgage loan application. ...

The first answer that comes to mind when someone asks how does where you live affect how you live is: do you have a lot of spare time? Because this one takes a while to answer… Like ...

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

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 ...