Jurisdiction
Definition of "Jurisdiction"
Geographical area for which a given governmental agency has authority and responsibility. For example, the jurisdiction of a county court is the county in which it is located.
Popular Real Estate Terms
Company formed for the purpose of owning securities of one or more real estate corporations and assuming control over their practices and management. The other corporations are generally ...
Same as term Veterans Administration Mortgage: Mortgage guaranteed up to 30 years by the Veterans Administration to veterans meeting minimum requirements. Originally established by the ...
Land zoned for industrial use including manufacturing, factory office and warehouse space, research and development. ...
When we look at title policies, there are different types of coverages offered by title companies. Figuring out which one is the best option in your particular situation often depends on ...
Right to select something or perform some act. An example is a renter of property that is given the option to buy the home at the end of the rental period or to renew the lease. Not ...
See clapboard. ...
Right of a current stockholder to maintain the percentage ownership in a real estate company by purchasing new shares on a proportionate basis before they are issued to the public. It ...
The nonavailability of jobs for people able and willing to work at the prevailing wage rate. It is important measure of economic health, since full employment is generally constructed as a ...
Expiration of a lease or insurance policy by mutual consent of the parties, also to give up. ...
Comments for Jurisdiction
if you purchase a property for 175,000.00 and your jurisdiction rate is .52%. What is the monthly tax you would owe and how would you figure that out?
Oct 25, 2020 15:44:29Hey Rose! The property tax is usually paid twice a year, but some mortgages allow you to fold it into the monthly mortgage payments. If that is the case, you can find out how much you owe in property taxes by reaching out to your bank. Hope this information was useful and good luck!
Nov 05, 2020 12:58:49what does jurisdiction of .52% mean in real estate
Oct 25, 2020 15:40:17Hey, Rose! I think you are referring to property tax or millage rate, which is imposed annually or at the time of a real estate transaction. The tax is levied by the governing authority of the jurisdiction in which the property is located. In the US, it can be anywhere between 0% and 4% of the home value, depending on the state. The tax is administrated at the local government level and in your case we think it refers to a property tax of 0.52% applied to the local jurisdiction.
Nov 03, 2020 12:03:01what is real estate license's jurisdiction
Dec 26, 2019 16:10:49Hi Birenda!
Most real estate licenses in the United States are only valid in the state in which they are issued, as regulations vary from state to state. We hope this answers your question!
Jan 03, 2020 05:18:53Have a question or comment?
We're here to help.