Mortgagee
Lender (such as a bank) that has the property of the borrower as collateral (security, lien). If the mortgage is not paid, the property may be sold to make payment on the outstanding obligation.
Popular Real Estate Terms
Discharge of an obligation through payment or the rendering of a service. An individual is pleased with something such as work performed by an electrician at his home. Sometimes payment ...
Section of the Internal Revenue Code that addresses tax-free exchanges of certain property. The general provisions for a tax-free exchange of real estate are that the properties must be ...
Claim or debt that may be recovered by instituting a lawsuit. ...
Approving or permitting an action to occur. ...
A landowner may not divert or redirect a natural occurring waterway from his or her property causing damages to another property. Waterway is normally construed to mean streams and rivers ...
Party that receives part or all of a construction job to do from the general contractor. ...
List of dwelling units, such as homes. ...
Use of a parcel of land that will produce the greatest current value. ...
Person or business that provides an option to someone else. ...
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