Definition of "Ordinary interest"

Joel Sheesley real estate agent

Written by

Joel Sheesleyelite badge icon

Coldwell Banker Sea Coast Advantage

Interest based on a 360-day year instead of a 365-day year. The former is referred to as simple interest and the latter is termed exact interest. The difference between the two types of interest can be significant when a substantial investment is involved.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

If you are involved with real estate, chances are you've come across the term "convey" or conveyance. But what does convey mean in real estate? This term is crucial whether you're buying, ...

(1) Rectangular area bounded on all sides by consecutive streets. It is part of a platted area. (2) Substantial amount of real estate properties to be sold together. (3) Group of houses, ...

Federal program in which the U.S. government subsidizes much of the rent paid by low-income people. It applies to rentals of privately owned apartments. ...

To have a debt is to owe someone something. A debt may be a service, may be money or goods. May even be of gratitude. In the finance world, however, it usually is a way that institutions ...

Right to enter and start construction or furnishing property that is in the process of being purchased. ...

Deed used to transfer property rights to a governmental authority. ...

Form used to record information about a credit applicant's ability to meet his obligations in connection with a real estate purchase. ...

A lease contract to possess a parcel or property for a certain period of time. A leased fee estate is a conditional estate conveyance in real property for a specified period of time. The ...

The term proxy comes from the power of attorney by which the holder of stockholders in a real estate company transfers voting rights to another stockholder. A proxy fight may arise in which ...

Popular Real Estate Questions