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
A relatively unknown term, laches or the” doctrine of laches,” means failure to assert one’s rights or a claim in a given matter in time. Failing to take action on a ...
Insulation covered on each side by a material, such as metal. ...
State court where civil disagreements are decided by the judge or jury. A written record is kept of the deliberations. In some stats, civil and criminal courts are combined. ...
Timber wood situated on the exteriors of a loading deck to safeguard it from damage resulting when trucks unload and load. ...
Clause in an open-ended mortgage permitting the mortgagor to borrow additional sums of money in the future pledging than same real property collateral. A construction loan has a future ...
Formal, written, unconditional promise to pay on demand or at a future date a definite sum of money. The person signing the note and promising to pay is called the maker of the note. The ...
Map within a governmental jurisdiction showing the boundary lines and ownership of all real property. A cadastral program produces the cadastral map. ...
Having the intellect to comprehend the terms and conditions of a will and their impact. A testator must understand his or her estate and its eventual disposition and effects in order to ...
Individual engaged in selling a product or service. The product may be an investment in real estate. In some instances, state law may require licensing to safeguard the public by requiring ...
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