Legal Age
Definition of "Legal age"
The age at which one is legally capable of entering into binding contracts, signing a deed and negotiating business agreements. In most states this is the age of majority. Normally this is the age of 18. However, for certain activities, such as drinking alcoholic beverages, the age could be higher or lower in the case of qualifying to obtain a driver's license. A contract, deed, or business agreement is not valid when signed by a minor.
Popular Real Estate Terms
Contractual provision requiring apportionment. ...
Interest is due on a loan only if a particular circumstance occurs. ...
In conducting a real estate transaction, each party is presumed honest and fair with no deceit. The intentions are honorable and realistic. If deception occurs without prior knowledge, the ...
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Fluctuation in sales, profits, rat of return, etc. Likelihood of declining value. ...
Approach to appraise rental property based on anticipated future earnings to be derived from it plus the estimated selling price at the end of he period held. ...
An agreement, debt, or low which can be operationalized, fulfilled, completed, or performed. ...
Founded in1934 and located in Chicago, IL with a 1993 membership of 8,300, the IAAO seeks to ameliorate assessment standards as well as to perform ongoing property assessment research. The ...
Square footage of space a parcel of land has. ...
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