Power Of Sale
provision in a mortgage agreement granting the lender the right to sell the foreclosed property of the borrower if the payments are defaulted upon. The borrower will only recoup the amount exceeding the selling price less legal expenses less the debt balance.
Popular Real Estate Terms
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Use of a parcel of land that will produce the greatest current value. ...
A contract not in writing. Oral contracts are legally enforceable except for those applicable to the sale of real estate. ...
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Annual return rate of capital invested in a wasting asset. The capital is returned from the depreciating asset's earned income. ...
Pipes from a structure to a sewer for the purpose of sewage disposal. ...
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Guarantee by a seller to a buyer to satisfy, for a specified time period, problems in the quality or performance of items within the home. There is usually no additional charge during the ...
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