Definition of "Mortgage"
A lien that makes property security for the repayment of debt. Mortgages can finance the acquisition of real estate such as a home. A mortgage has certain benefits compared to other debt instruments such as possibly lower interest rates, less financing restrictions, and long maturity period.
Popular Real Estate Terms
Having two families live in a residence designed for only one family. This violates single-family residence zoning. ...
Sponsor of a syndicate involving people or companies buying an interest in a real estate investment or unit. The group of investors are in effect engaged in a joint venture for profit." ...
Opinion of a judge having no direct legal or binding effect on the outcome of a pending judicial decision. An obiter dictum is considered to be an incidental judicial remark about some ...
Provision in a loan agreement where a debtor authorizes a judgment against him in the event of a default. These agreements are widely restricted, but when they are lawful, the creditor is ...
You can often bump into the question of what is lot and block in real estate before selling or purchasing a piece of land. This entry will shed light on the lot and block ...
Process of conferring and consulting with clients concerning real estate investments and developmental projects. See also American Society of Real Estate Counselors (ASREC). ...
The meaning of the term tort outlines a wrongful act resulting in injury or damages. For example, trespassing on someone’s private property can end up destroying a part of it. ...
Federal tax legislation notably establishing 10% withholding on interest and dividends. ...
A method widely used for evaluating real estate projects. Under the net present value method, the present value (PV) of all cash inflows from the project is compared against the initial ...
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