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 mortgagee to participate in income from the mortgagor. For example, an individual buys an office condominium from a corporation selling the office unit. the corporation agrees to provide the purchaser with a mortgage if a kicker is included whereby the corporation would receive 10% of all the business profits the purchaser would earn.
Popular Real Estate Terms
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Insulating material attached to crevices around doors and windows to prevent air from either entering or escaping from a structure. Tacked, stapled, or glued onto the surfaces of the doors ...
mortgage being reduced through periodic principal and interest payments. ...
Losses arising from damage to or destruction of property. ...
Creates a lien against the mortgagor's property, but does not permit a lien against his or her personal assets. See also non recourse. ...
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Certificate usually granted by a jurisdictions building department certifying a specified premise has satisfactorily complied with all zoning and building ordinances. This certification is ...
Unexpected increase in the price of property not due to any effort on the owner's part. An example is when the appraised value of a house increases because of a population increase in the ...
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