Preemptive Right
Right of a current stockholder to maintain the percentage ownership in a real estate company by purchasing new shares on a proportionate basis before they are issued to the public. It allows existing stockholders to keep the value and control they presently enjoy. The new shares may be issued to the current stockholders at a lower price than the going market price. Further, brokerage commissions do not have to be paid.
Popular Real Estate Terms
Stature regulating the use of credit information. Allows consumers such as prospective homeowners access to their credit files. It requires a lender to explain how loan interest is ...
Principal highway designed to divert traffic around a major urban area in order to limit congestion and expedite traffic flow. A belt highway is connected to the urban area by main highways ...
lender who charges an exorbitant interest rate, which is typically illegal because it exceeds the interest rate allowed in the state. A borrower may go to a loan shark if he cannot obtain ...
Loan that allows the borrower to pay only the interest for the first few years of the loan. ...
List of architectural design items needing to be corrected and resolved prior to finalizing a building design. ...
Listing of all of the plats of subdivided plots in a jurisdiction showing the location, boundaries, and plat owners. A plat book normally shows other improvements including roads, blocks, ...
In the business world, the definition of override means a salesperson paying a commission to a supervisor or another agent. The meaning of override refers to an arrangement for acquitting ...
Contractual clause allowing one or both parties to terminate the agreement if a specified occurrence takes places. This is a cancellation clause, which allows the agreement to become null ...
Road or highway acting as a frontage boundary. ...
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