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
Flood insurance is a type of home insurance created to protect a homeowner’s property against damages caused by floods. Flood insurance is typically not included in the regular ...
Same as term plat book: Listing of all of the plats of subdivided plots in a jurisdiction showing the location, boundaries, and plat owners. A plat book normally shows other improvements ...
Limitation or prohibition such as on what a tenant in an apartment may not do. Local laws may also restrict certain actions such as failing to use the property for gambling purposes. ...
In real estate, a buffer zone refers to an area of land that acts as a transitional space between two different types of land use or properties. It’s like a neutral ground that ...
An iron pipe, stone, tree, or other fixed point used in making a survey. ...
A triangular shaped end of a building where a double sloped roof meets at the top of the triangle. A gable begins at the eaves of a roof and terminates at the roof ridge. ...
The real estate arbitration definition is an alternative way to settle disputes when the parties involved want to avoid a trial. There are some significant differences between an ...
A fixed asset whose utility is derived from its physical attachment to a property and which usually cannot value or damage. A fixture, under the terms of a lease or other agreement, can be ...
Nineteenth-century style home architecture featuring three dimensional ornamentation, made by hand using a chisel and gouge. ...
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