Immobility
- Unable to move a structure so it must stay where it is. Except for mobile homes, property is fixed at a particular site.
- Inability of a person to move because he or she is attached in some way to the general locality. For example, a homeowner in New York City may be tied to his or her job and therefore cannot move to another state because of the lack of job opportunities.
Popular Real Estate Terms
Judicially determined minimum selling price for auctioned property. For example, a judge rules that a foreclosed home may be sold for less than $200,000, ...
All expenses related to maintaining and operating a household. These expenses include the cost of rent or mortgage payments, taxes, utilities, maintenance and structural improvements. The ...
There’s no mystery. The actual age of a property is the chronological age of a property. Say a house was built two decades ago. That house’s actual age is 20 years old.The ...
Arrangement the insured and insurer share on a proportional payment for a loss. ...
Amount awarded by a government when a person's property is condemned and he must move. ...
In appraisal jargon, property currently being appraised. ...
Legal proceeding to exercise a right in a disagreement between private individuals or businesses. One party seeks a remedy against the other. It does not involve a criminal situation. ...
Dry ravine formed by water runoff. ...
In an electrical system, the connection box where all the circuit systems are installed with a series of electrical breakers. The major distribution or collection duct in an ...
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