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
House made using standardized components that are preassembled on an assembly line in a factory rather than being built from "scratch" on a site. Normally, the prefabricate house is trucked ...
Insulation covered on each side by a material, such as metal. ...
An insurance contract or home warranty, usually for one year, covering electrical, plumbing, heating, etc. ...
Portion of a construction loan withheld by a lender from a contractor until all construction work is satisfactorily completed or sufficient space is rented in a floor loan. The holdback ...
Property to be used by a retail business in the sale of merchandise or rendering of services. An example of retail property is a store. ...
Part of a capital gain constituting tax benefits previously taken and taxed as ordinary income. ...
The term agricultural property means a type of land that has been designed or is permitted to engage in agricultural activities. Also referred to as agricultural land, agricultural ...
Same as term soil porosity: Extent to which soil has cavities or pores, thereby allowing water to pass through. ...
An entrance hallway from the outside of a building. Foyers are intended as a gathering place for people either before exiting or upon entrance. ...
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