Floor Loan
A minimum amount a lender is willing to provide on a commercial loan for a building designed to be tenant occupied. A floor loan is progressively funded as the building moves from the initial construction stage of occupancy. At its inception, a floor loan may fund up to 75% of the principal amount of the total loan and then provide additional portions of the principal as the building is constructed.
Popular Real Estate Terms
Legal action by an owner of property to oust or exclude an individual or business form using the property. ...
In taxation, the excess of total long-term gains minus total long-term losses on the sale of real estate. Long-term classification is for real estate held one year or more. This is reported ...
Value is exchanged by the parties to an agreement involving current or future performance making it legally enforceable. Without reasonable consideration for performance, the contract may ...
The initial lessee of rented property who then leases it to a subtenant. ...
Contractual provision allowing an individual or business to renege on a commitment in certain cases without being penalized. ...
Relationship between individuals or entities out of which exists a mutual interest. An example is a privity of contract among the contracting parties concerning the actions each are to take. ...
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Individual or entity who pays for the professional services of another person or business. ...
Area or county used in the census or other data gathering functions that has a population of 50,000 inhabitants or more. ...
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