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
Individual corporation, and so on permitted by law to own property and engage in business. Here, two or more companies operate under common control. Separate economic unit subject to ...
The transfer of a property deed to the original owner upon the satisfaction of a mortgage. A reconveyance is accomplished through a reconveyance deed. For example, upon making the final ...
(1) Reconciling the records to show agreement. (2) Agreement of the records to physical amounts. ...
Group of rental occupants acting together. ...
An income feature added to a mortgage whereby the mortgagee earns income in addition to the mortgage interest and principal payments. Also called an equity kicker, a kicker allows the ...
Selling price for a property less assumed mortgages by the buyer. For tax purposes, the computation of the contract price is critical. ...
Cash earnings generated from a real estate investment or property. Cash earnings equals cash revenue less cash expense. The cash earnings may or may not be discounted to its present value ...
The escrow fee is basically how the escrow agent or manager get his/her compensation for assisting and handling both the parties and the funds involved in escrow. In real estate, the ...
Combination of insurance policies on property with each providing an additional increment of coverage exceeding the limits of the preceding policy. For example, policy A adds $70,000, then ...
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