Millage Rate
Property tax rate whereby each mill is $1 of tax assessment per $1,000 of assessed property value. For example, a house in Los Alamitos is assessed at $200,000 and the millage rate is 10 mills. The assessment for the home would be $2,000 ($200,000*.01).
Popular Real Estate Terms
A testator/testatrix who donates real property. ...
Person chosen by a testator/testatrix to handle and conduct the terms of a will to an estate. Duties include collecting and selling of properties and paying debts of the state. ...
Same as term mortgage correspondent: Individual having permission to act ob behalf of a bank or other financial institution in a specified locality to attract interest borrowers. ...
The construction of a highway right way over a privately held parcel of land. Property owners are entitled to compensation for the value of the property usurped by a highway easement. See ...
A certificate of ownership in a real estate company. Pledged assets for a borrowing. An example is an office building serving as collateral for the mortgage. Way of protecting property ...
Any real estate owner is aware that assets depreciate over time. So exactly what is accumulated depreciation then? As depreciation happens to every asset, whether it is a three-story ...
To enter illegally. For example, entering property without permission. ...
Person or business that benefits from the work of another person or business. The recipient has not compensated the other party for this gain. In law, the one being enriched at the ...
(1) Short-term loan that is made in anticipation of permanent longer term loans. The interest rate on such a loan is usually higher than on longer term loans. (2) A business loan in which ...
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