Price Appreciation
Increase in the value of real or personal property. The price may increase because of a number of factors, such as shortage in supply, improved economy , favorable political environment, tax incentives, increased profitability. An example is the increase in the price of real estate.
Popular Real Estate Terms
Before getting a loan to buy a property, you must know the definition of foreclosure. A foreclosure is the process of making a loan due immediately. Technically, a loan becomes due way ...
Total amount due at maturity consisting of both principal and compound interest. ...
Window having both screens and storm windows that can be easily interchanged according to seasonal needs. ...
Compilation of all tax maps of a given tax district that are bound together and kept at the local tax office. The tax book is a public record that may be accessed by an individual for ...
A lessee (tenant) subleases the apartment to a third party .The tenant is now sandwiched between the lessor and the sublessee. In other words, the tenant is acting as a lessee to the ...
The right of a person or business to renew a contract. For example, the tenant may have the right to renew a lease for a specified amount and term. ...
An individual, educated, trained, and licensed in the principles of designing structures, and rendering drawings, specifications, bidding requirements. ...
Right of a party, the assignor, to allocate the benefits of certain insurance policies to a third party, the assignee. Insurance on real estate may assign the policy to protect the property ...
Flood insurance is a type of home insurance created to protect a homeowner’s property against damages caused by floods. Flood insurance is typically not included in the regular ...
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