Gap Loan

Major city in a metropolitan area. ...

Same as term reversion: Also called estate in reversion. A vested interest or estate in which a person has a fixed interest in the future. For example, if a grantor is required by the IRS ...

The right of a landowner to have lateral land support from adjacent properties. The right of lateral and subjacent support means that an adjacent land owner may not, for example, lower or ...

Money paid for a real estate project or investment that can be taken off on the tax return as an expense. Expenditures made during construction of a building that do not go directly into ...

Legal responsibility for something. For example, an owner of commercial property (e.g., restaurant) is legally obligated for damages on that property (e.g., restaurant patron falls and ...

Insurance coverage against specified losses that arise from the dishonest acts or defalcations of employees. This bon may be applied to persons or positions. ...

Cubic unit of measure for a board one-foot long, one-foot wide and one inch thick, or 144 cubic inches. These measurements are not actual, since they are stated prior to finishing and ...

Changes made by a lessee to property during the term of the lease. In general, if the changes are permanent such as the addition of a building to lease land, the ownership of the building ...

You came in here looking to find out what happens when a property starts to depreciate but the truth is that the question comes from a false premise because not all properties depreciate. ...

A housing ratio is the percentage of your housing payment (principal, interest, taxes, and insurance) to your monthly gross income. Lenders use this ratio to qualify you for a loan. ...

Yes and no.The yes part of the answer is pretty standard; we’ve been covering it in the many many articles we put out on our real estate advice and tips page exposing the ...

A Good Faith Estimate is when a lender must give a prospective homebuyer a written estimate of closing costs within three days of submitting a mortgage loan application. ...

A contingency is a provision included in a sales contract stating that certain events must occur or certain conditions must be met before the contract is valid. ...

A qualifying ratio is the percentages a lender compares to see whether you qualify for a loan. ...

The Real Estate Settlement Procedure Act requires the lender to disclose certain information about a loan, including the estimated closing costs and APR. ...

The right of a property owner to have and enjoy all of the advantages of property ownership including air right, mineral rights, riparian rights, and rights to alluvion, as well as manmade ...