Definition of "License"
Document issued by a public or private institution to perform some activity according to legal requirements. There is usually a license fee. An example is a real estate license.
Popular Real Estate Terms
Building more than six stories high serviced by elevators. ...
Lender (such as a bank) that has the property of the borrower as collateral (security, lien). If the mortgage is not paid, the property may be sold to make payment on the outstanding ...
Functional utility in real estate typically defines a property’s usefulness to the homeowner or lessee. The more purposes it can fulfill, the better. For instance, you can call a ...
payment of a debt before its due such as a mortgage payment or insurance premiums. ...
Way of valuing real estate that computes the discounted present value of an expected stream of income, including rental income and future capital gains or losses. ...
A triangular shaped end of a building where a double sloped roof meets at the top of the triangle. A gable begins at the eaves of a roof and terminates at the roof ridge. ...
A correlation defines how two variables relate to one another. We can confirm a correlation if an alteration in one variable can change the other’s behavior. Using quantifiable data ...
Room in a home where the occupants spend their leisure time. ...
State tax based on the value of property received through inheritance. The tax is paid by the recipient not the estate. Tax paid to the government or state upon the death of the taxpayer ...
Comments for License
Purged license, what does that mean?
Jan 21, 2020 17:58:48Hello, Nita! Purged as a legal term refers to clearing someone from guilt, charges, or accusations. This term is frequently used for driving records to suggest ways your driving records get purged from driving felonies or any other past records for that matter. This term usually applies for any sort of records, therefore, I think you meant purged license records to be more precise. This means nothing else than cleaning or clearing the records or history.
Apr 09, 2020 14:02:28Have a question or comment?
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