Horizontal Property Laws
Definition of "Horizontal property laws"
Body o law relating directly to condominiums and cooperative developments. Most property law provides vertical ownership of property in the sense that property owners own mineral rights as well as air rights to property. Horizontal property laws do not allow property owners to own the land on which their apartment unit is located.
Popular Real Estate Terms
New cost less accumulated depreciation to date. ...
Entrance or path to a land parcel. Passageway existing from property. An egress may lead to a roadway or some other form of exit. ...
Articles of personal property installed by a tenant under the terms of a lease for purposes of use in his or her trade or business, Trade fixtures are removable by the tenant before the ...
Favorable occurrence providing a good chance for success, usually in financial terms. ...
The imposition or collection, usually by legal or governmental authority, of an assessment of a specified amount. An example is a tax assessment on real estate. ...
Financial institution that channels the savings of its depositors mostly into mortgage and home improvement loans. It concentrates on originating , servicing, and holding mortgage loans. ...
Period of time between valuations of property for tax purposes in a given locality. ...
Fee payable because of late payment. For example, a mortgagor is assessed a $30 late charge by the bank for not paying the mortgage payment when due. ...
Potential customer or client in which there is a realistic chance of making the sale for the product or service. An example is a prospective purchaser of real estate that the real estate ...
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