Definition of "Hangout"
That portion of a loan collaterized by a leased property extending beyond the expiration date of the lease. For example, a lending institution collaterizes a 20-year loan on a commercial property being leased by a major department store for 15-years. It is estimated the $50,000 portion of the loan remaining after the lease expires will be more than covered by the value of property.
Popular Real Estate Terms
Unfortunately, we encounter false advertising daily. False advertising refers to deceptive or misleading ads and commercials that fail to showcase a product’s or service’s ...
Impeding and restricting people in various activities based on their race, ethnic reasons, or religion now goes against US laws in effect. In the past, especially in the 1960s, ...
The construction of stone or block walls without using concrete or mortar. Drywall construction is a traditional building technique used for stone field wall construction. Newer building ...
Real estate sales contract where possession and use is provided to the buyer, but the deed is kept by the seller until the full purchase price is met whereupon the title is placed in the ...
A corporation that owns housing units and whose tenants purchase shares in the corporation equivalent to the value of their housing unit. Also called co-ops. ...
A lien on the property of a mortgagor. In most states a mortgage gives the mortgagee a lien-as opposed to the common-law practice of granting conditional title-on the house or property as ...
To confirm, ratify, verify, and accept a transaction that can be canceled. ...
Linkage of property ownership that connects the present owner to the original source of title. ...
Home inspector is the name the real estate industry calls the professional responsible for the close and thorough examination of a property. The home inspector usually is called upon ...
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