Preterit

Definition of "Preterit"

Past action of a property owner or tenant.

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Public Domain

Right to an item belongs to the public at large so anyone can use it. An example is a real estate software program that is publicly available by an ...

Zoning Laws

Local government ordinances governing real estate development including structural and design aspects. Zoning ordinances usually define various usage ...

Market Risk

Uncertainty in the price of real estate due to market, economic, political or other conditions. ...

Boilerplate

Standard language in real estate contracts and prospectuses-usually in small print. ...

Maintenance

Periodic expenditures undertaken to preserve or retain a property's operational status for its originally intended use. These expenditures do not impr ...

Ground Lease

A long-term lease of only land. ...

Popular Real Estate FAQ

What Is A Cap?

A limit on an adjustable-rate mortgage. ...

What Is An Index?

An index is an economic indicator used to set the rate for adjustable-rate mortgages. ...

What Is A Loan Origination Fee?

A loan origination fee is a fee charged by the lender-usually 1 percent of the loan amount. ...

What Is Equity?

Equity is the financial interest or cash value of your home, minus the current loan balance(s). If selling the home, this would also be minus any cost ...

What Is A Proration?

A proration is the division of certain fees. If the sellers have paid the taxes six months in advance, for example, they may want a portion of that pa ...

What Is Depreciation?

Depreciation is a decline in the value of property due to general wear and tear, or is also known as an annual allowance that helps you recover on you ...