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
(1) Mildly convex arch built into a load bearing beam, girder, or truss to counteract any load bearing stress placed on it. (2) Slight slope designed into a structure such as a drive4way or ...
Provision in a mortgage that requires the final payment to be substantially more than all other payments. ...
Natural resource, such as oil, coal, and timber, having a limited useful life and subject to depletion. Such assets decrease in worth primarily due to the extraction of the valued commodity ...
A purchase of real property made on account. Loan extended to business or individuals to buy real estate. In taxation, a dollar-for-dollar reduction in taxes. An example of a tax ...
Term indicating a resemblance or analogous to a legal classification. For example, a quasi corporation, quasi contract, quasi possession, quasi offense. ...
Group of investors pooling their money to purchase real estate. ...
A capitalized expenditure usually extending the useful life of a building or improving it in some manner over and above the original condition. In contrast, a maintenance or repair expense ...
Financial standing of a debtor as a basis to pay obligations. ...
Business entity providing water services in a particular locality. ...
Have a question or comment?
We're here to help.