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
Selling price for a property less assumed mortgages by the buyer. For tax purposes, the computation of the contract price is critical. ...
lender who charges an exorbitant interest rate, which is typically illegal because it exceeds the interest rate allowed in the state. A borrower may go to a loan shark if he cannot obtain ...
A loan that is to be replaced by a permanent loan. ...
Something that has been built and physically exists at a specified location, such as a building, garage, etc. Something consisting of related parts, such as the organization and terms of ...
Precalculated tables providing the present values of $1 or an annuity of $1 for different time periods and at different discount rates. ...
People often use the term in their everyday discourse, yet many wonder what the meaning of common law genuinely implies. Common law refers to a system of jurisprudence based on court ...
Right to an item belongs to the public at large so anyone can use it. An example is a real estate software program that is publicly available by an electronic bulletin board service. ...
Being an administrator in the state where an individual was domiciled at the time of death. The domiciliary administrator is considered the primary and principal estate administrator. ...
Retail businesses next to each other with common walls on each side and the same roof. ...
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