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
Ownership interest in property that is above the minimum needed to meet uncertainties or a downward trend in real estate market. ...
Lien on a given property, such as an person's house as a collateral for a loan. ...
Mortgage in which the interest rate charged by the lender can vary according to some reference index not controlled by the lender, such as the interest rate on 1-year U.S. T-bills or the ...
Real property that is without any obligations, liens, or anything else against it. It is free and clear such as a house without mortgage. ...
Right of a property owner located adjacent to an airfield to use the airspace above a certain distance to fly an airplane. However, the owner may not be allowed to put structures, signs or ...
Also called a will. Describes the disposition of property. ...
A type of equity participation loan where, in exchange for charging a below-market interest rate, the lender receives a predetermined percentage of a any increase in value of the property ...
Amount to be paid by a person or business for violating a statute or legal court order. It may also be assessed for violating the provisions of a contract. Examples of penalties are a ...
External front wall to a structure ...
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