Prerelease
Definition of "Prerelease"
Securing lease commitments to a building prior to its being available for occupancy. For example, a developer offers a discounted lease to potential tenants providing they agree to sign a lease prior to the completion of the building. A prelease agreement is often required from a mortgagee in order for a developer to obtain a permanent mortgage commitment.
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 ...
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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. ...
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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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