Definition of "Deposit"
Also called earnest money. Money deposited with an individual for security for the performance so some contract. This is intended to show his/her willingness to follow through with the purchase agreement. Deposit or earnest money can be forfeited if the depositor defaults on the terms of the contract.
Popular Real Estate Terms
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Cancellation of a contract such as when a real estate agreement is deemed illegal. ...
Paneled brickwork between timber quarters, a framed wall, or partition. ...
Land subject to an easement. ...
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Items of real and personal property that usually have a long life, such as housing and other real estate. ...
Structure that has the same blue print and design as all the other homes in a given development; the opposite of custom built. ...
principal line running north and south in the government rectangular survey method. Other meridians, each 24 miles apart, are surveyed from the principal meridian. ...
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