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
Buyer agrees to accept the responsibility for the existing mortgage. The seller is not relieved of the obligation unless the lender agrees to release it. Many lenders charge points and ...
Method of eliminating the spaces between the solid fragments in fresh cement or mortar during the mixing process. This is done by a combination of constantly mixing, turning, centrifuging, ...
(1) Giving up an ownership claim to property. (2) Renunciation of a claim to real property. ...
An official indicating intensity of land use in a zoned urban area. ...
Cancellation of a contract such as when a real estate agreement is deemed illegal. ...
Window normally mounted on hinges in a window casing. It swings outward to open. ...
Barrel, reservoir, or tank for storing rain runoff. ...
Long, one-story house with the roof sloping toward the ground, often having skylights and contemporary windows. ...
Will not meeting all the requirements of a valid will. ...
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