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
When a person dies, a distribution of their estate takes place. The estate’s distribution is done through deeds depending on whether or not the deceased left a will. Two types of ...
Rules regarding day-to-day use of the premises. ...
The tenant is forced to leave the premises if he complains about the poor condition of the apartment or office space he has leased. This type of eviction is illegal in many states. ...
Interest rate on a mortgage that moves up or down based on some variable such as an index of lender's cost of funds, inflation rate, or prime rate. ...
A relationship with a person, thing, or item that is the foundation of an insurance policy. One having an insurable interest has a financial stake in preserving the insured person or ...
A reduction in structural value from all reasons except physical failure. For example, a commercial building having an outdated elevator or electrical wiring system is experiencing ...
Bottom frame of wood supporting a window. It should be strong in order to support something put in the window such as an air conditioner. ...
Building more than six stories high serviced by elevators. ...
Lines determined by a government rectangular survey laying out a standard six-mile square area of land. ...
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