Line Of Credit
Definition of "Line of credit"
The maximum pre-approved amount that an individual or business can borrow without preparing a new credit request. It is a safety buffer in the event funds are needed for unexpected occurrences or emergencies. Under the line of credit provision, a check may be written whenever funds are needed. Interest is charged only on the amount borrowed. Interest incurred on the first and second homes are deductible for tax purposes.
Popular Real Estate Terms
(1) Craft of one who fabricates fine cabinets, furniture, or woodwork. (2) General term describing interior wood finish work performed by cabinetmakers instead of carpenters. (3) Built-in ...
Factors affecting the useability and value of property. Important land features would include whether the land was flat or hilly, cleared or uncleared, high or low elevation, dry or swampy, ...
Kind of siding for wood frame houses where the joints in the usually vertical siding are covered by narrow strips of wood called battens. The battens are nailed over the joints. ...
Parcel of land that is totally surrounded by other land parcels not providing access to a highway. ...
The Graduate, REALTOR® Institute is a designation given to real estate agents who have completed the curriculum developed as an educational attainment program by the National ...
...
Company formed for the purpose of owning securities of one or more real estate corporations and assuming control over their practices and management. The other corporations are generally ...
(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. ...
Style of life emphasizing outdoor activities, amenities, and recreation. Example are campers and barbecues. It is usually on a short-term basis. ...
Have a question or comment?
We're here to help.