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
Person receiving la legacy from a will. Normally a legatee will receive personal property possibly including real property. ...
See clapboard. ...
Fee paid only if other criteria are met. ...
Expected period that property will provide benefits. It is typically less than physical life of the property because the property continues to have physical life regardless of inefficiency ...
See estoppel. ...
Money raised by a syndicate promoter and placed into a fund prior to selecting the specific property in which funds will be invested. ...
The first thing we have to understand about the voidable contract definition is that it is not the same thing as a void contract. A voidable contract can become a void contract if a court ...
Foreign-born individual not qualifying as a citizen of the country in which he or she resides. ...
Also called an installment sales contract or contract foe feed. A type of creative financing in real estate allowing the seller to finance a buyer by allowing him or her to make a down ...
Have a question or comment?
We're here to help.