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
Individual or entity that divides up a large piece of owned land into smaller pieces generally for the purpose of developing them into homes for sale in the future. ...
Legal action between a plaintiff and defendant. ...
Raised concrete border constructed along a street or a sidewalk. A curb prevents vehicle from going on the adjacent property and sidewalks as well as directing runoff into storm drains. ...
An agricultural technique of supplying water to land to sustain the growth of crops. Developing irrigation system is an ancient practice being used as early as 500 BC along the banks of ...
Net return on a real estate investment. It equals the income less the expenses associated with the property. ...
Person who dies leaving a will specifying the distribution of the estate. ...
Interest rate on a mortgage is changed periodically based on the change in a general price index to take into account inflation, such as a yearly adjustment. An example is the consumer ...
Sewer system built into the streets of a neighborhood that is capable of accommodating the excess water flow of a heavy storm without backing up or flooding. ...
In the mining and petroleum industries, it is a portion of the profit secured from the extracted minerals or oil reserves from the property paid to the property owner. For example, a ...
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