Insurable Interest
Definition of "Insurable interest"
A relationship with a person, thing, or item that is the foundation of an insurance policy. One having an insurable interest has a financial stake in preserving the insured person or property. An example is a wife having an insurable interest in her husband's real property.
Popular Real Estate Terms
Land development planning model theorizing that an urban area grows in rings expanding out from the central business district. The second ring is a shifting area having manufacturing and ...
Notion that a buyer should not pay more for a property than it would cost to buy at current prices for land, labor, and appraisals. ...
Worth of the property part which is left subsequent to a condemnation action. ...
The process of entering a conveyance or mortgage instruments affecting the title to real property in a public registry. Recording instruments provide public notice to the whole world of ...
A tenancy in which no written lease is involved, rent being paid monthly. It can be renewed for each succeeding month or terminated at the option of either party with sufficient notice. ...
Unit of ownership in a real estate investment trust. ...
A freehold equity in a n estate, restricted to the duration of the life of the grantee or other stipulated individual. ...
The definition of net sales price in real estate is the combined total cost to the buyer of a listing, excluding any auxiliary costs such as the sales fee, appraisal fee, real estate agent ...
Term indicating a resemblance or analogous to a legal classification. For example, a quasi corporation, quasi contract, quasi possession, quasi offense. ...
Have a question or comment?
We're here to help.