Escape Clause

Gift of real property as stipulated in a will. ...

Condemnation is a process by which private property is taken for the purpose of public use. Prior to the taking, the property is said to be “condemned property”, meaning that it has ...

Hallow masonry wall consisting of an inner and outer wall with dead air space between them. The air space provides increased thermal insulation. Cavity walls are not used in northern ...

The deposit given by a buyer of property is delivered to the escrow agent, who retains it for the seller. ...

Misuse, alteration, destruction, or neglect of land by an individual right-fully in possession that breeds a significant and permanent reduction of its value to the legal interest owned by ...

Style of home emphasizing symmetry and balance. ...

When an owner of real estate dies interstate, having no enforceable will, the property descends, by operation of law, to the owner's inheritors. ...

Land that is suitable for tilling and growing of crops. ...

A lifetime rate cap is an adjustable-rate mortgage (ARM), this cap limits the amount the interest rate can increase or decrease over the life of a loan. ...

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 use this ratio-sometimes called the ...

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 ...

Hey, don’t feel ashamed for not knowing what is the difference between a real estate broker and a real estate agent. This is truly one of the most common real estate confusions out ...

Conceived in 1944, the VA loan program is one of the oldest facilities offered to veterans and service members. This type of loan is guaranteed by the United States Department of Veterans ...

If you plan to stay forever in a certain place, buying is better than renting. Banks and mortgage brokers offer such a huge variety of loans that it is almost impossible not to find ...

A penalty fee charged for paying off a mortgage early, thus allowing banks to still make money off of the loan in the event that you inherit a small fortune. Most loans these days do not ...

You probably don't have the correct knowledge to represent yourself. The seller pays the real estate commission, not the buyer, and real estate commissions are already set in the listing ...