Limited Liability
Definition of "Limited liability"
A liability that does not go beyond the owner's investment in a real estate business. A corporation and limited partners have this benefit. The stockholders of a corporation usually have limited liability; they risk only their investment in the business. Sole proprietors and general partners have unlimited liability.
Popular Real Estate Terms
Provision in an insurance policy that caps the insurer's liability by stipulating that the owner of the property that has experienced damage must have another policy that covers usually at ...
A land property estate contingent upon the occurrence or lack of occurrence of a particular event whereupon it can be created, augmented, or dismantled. ...
Insulation covered on each side by a material, such as metal. ...
Listing of property that is open, meaning there is no one real estate agent who has the sole right to sell the property. ...
Temporary financing meeting a developer's financial difference between a construction loan and a permanent mortgage. ...
Intent to deceive or never to carry out the provisions of an agreement. ...
Loan with a significant down payment with the balance being paid in equal periodic payments over a short time period. There is no interest charge. An example is when a seller of real ...
Analysis of a real estate sales data to appraise real estate values. Sources of real estate sales data used in the market data approach include the official records of deeds and leases ...
Tenant agrees to a replacement landlord. ...
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