Definition of "Fungible"
Goods that are freely substitutable. It is goods of a given class or type, any unit of which is as acceptable as another, and capable of satisfying an obligation expressed in terms of the class. For example, bushels of rice are fungibles, while parcels of real estate are not.
Popular Real Estate Terms
Latin term meaning something in exchange for something else. For example, a person rushes through an order for another in return for having first choice in selecting a parcel of ...
Latin term meaning legal capacity to act on behalf of oneself. ...
Records maintained as evidence of ownership of the home and any of its contents. ...
An Act, passed by congress in order to prevent the practice of redlining and disinvestments in central city areas. Redlining is a practice in which lenders refuse to make loans in certain ...
Extended area of land commonly held for subdividing and development into residential units. ...
A provision not explicitly stated in an agreement, but considered as an important item. For example, the buyer of a home anticipates it to meet seller's claims as to condition and use. ...
Amount invested in property in cash. ...
Increase in the value of property caused by inflation. For example, John buys a home for $150,000. Because of inflation, the home is worth $200,000 five years later. The inflation equity in ...
Local zoning law or private limitation on how far in feet a structure might be situated from the curb or other appropriate marker. ...
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