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
One of the many Inflation definitions can be put into these simple words: the result of the general increase in prices over a period expressed as a percentage. Inflation is controlled by ...
Person who will become the beneficiary if the original beneficiary dies before the insured. It is the policyholder's second election as beneficiary, dependent on the status of the primary ...
The tenant is forced to leave the premises if he complains about the poor condition of the apartment or office space he has leased. This type of eviction is illegal in many states. ...
An abstractor, or, most commonly known as an abstractor of title, is the individual that determines based on thorough research the condensed history needed for an abstract of title. They ...
An improvement to property that is below the standard, usual expectation. An example is when a contractor's work on a house is below the quality that the homeowner reasonably expected for ...
Way to determine the capitalization rate of income property for valuation purposes by weighting the rate of interest and source of financing in percentage terms. ...
Blockbusting is a despicable and illegal racist business practice. Here’s how Blockbusting happens: a real estate agent, or someone posing as one, comes to a homeowner and instills ...
Legal action under eminent domain where the government takes ownership of privately held real estate for public use (parks or schools for example) irrespective of the owners wishes. The ...
Siding made out of aluminum, plastic derivates, or cement asbestos having ridges and valleys which is attached to the sides of buildings. ...
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