Definition of "Layering"
Combination of insurance policies on property with each providing an additional increment of coverage exceeding the limits of the preceding policy. For example, policy A adds $70,000, then policy B adds $80,000, and the policy C adds $100,000, and the policy D adds $130,000, for a total coverage of $380,000. In some instances, a person may have to take out several policies from different insurance companies to obtain the total required coverage.
Popular Real Estate Terms
(1) Judges remark in a court ruling not in and of itself embodying the law. A dictum merely illustrates or amplifies the ruling. (2) Arbitrator's ruling. ...
making land more beautiful to look at by adding improvements such as lawns, trees, and bushes. Increases the value of the property. ...
See accommodation endorser, maker, or party. ...
Device that cuts off an electric circuit when the current becomes to strong. ...
Map which documents the area, perimeter location, dimensions, and other data relating to land for purposes of assessing annual real estate taxes. ...
Tendency to go to the party or situation of the lowest level of opposition. ...
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Documentation of zoning requirements and changes thereto. ...
Expenditures incurred to initially purchase property, including incidental costs necessary to put the property into existing use and location. This cost is then depreciated over the assets ...
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