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
Latin abbreviation for the literal translation meaning" which see". ...
Interest in real property that exists when a tenant remains in possession of leased premises or a "hold over" after his right to possession has ended. In a tenancy at sufferance, a tenant ...
The definition of Fair Market Value in the real estate business is the highest amount that could be received on the sale of a property when there are a willing buyer and a willing seller. ...
Paneled brickwork between timber quarters, a framed wall, or partition. ...
Unrealized gain in value of real property from holding it. The increase value is not recognized in the accounts. When the property is sold there will be a realized gain or loss. ...
An interest in property with the right o possession being postponed into the future until a certain even occurs. There are several possibilities where a future interest in property could ...
Interpreting the objective of a testator in his or her will. The disposition of the testator's estate must be untreatable or it could be legally challenged. ...
Legal lien on property on behalf of an individual who has not been paid for material furnished in constructing property. The material enhanced the value of the property, and as such the ...
Primary business district of a city or urbanized area having the areas major governmental offices, professional, and retail businesses represented. ...
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