Definition of "Income"
- Money earned or accrued during an accounting period that results in the increase in total assets.
- Items such as rental income.
- Revenues arising from the sales of real estate.
- The excess of revenues over expenses and losses for an accounting period of a real estate business.
Popular Real Estate Terms
Latin for at first sight. Facts assumed to be true unless subsequent evidence disproves it. ...
The Federal Reserve Bank's regulation applying to the amount of credit that may be advanced by brokers and dealers to customers to buy securities. ...
Created by the US Congress in 1965, the Department of Housing and Urban Development (HUD) is the agency principally responsible for federal programs relating to housing and urban ...
Person's title to real estate giving him exclusive power and rights owner it. ...
Document evidencing the passage of title to a purchaser of property sold for taxes. The tax deed is issued upon foreclosure of the property lien. Typically, there is a grace time period ...
A court order on an issue directly related to the immediate action. ...
Freestanding residential housing constructed on its own building lot. Detached housing is the typical type of housing found in suburban developments. ...
Interest computations based only on the original principal. For example, the simple interest on a $100,000, 8% loan is $8,000. It is compared with compound interest which is applied to the ...
The label American Land Title Association, also known as ALTA, is a trade association that helps in managing the title insurance industry. Another focus of ALTA is the abstract of title of ...
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