Procuring Cause
Claim by a real estate broker that his or her actions were the principal cause of the completion of a property sale between two parties. A successful procuring cause claim would entitle a broker to a commission for a property sale.
Popular Real Estate Terms
Right of an individual to be offered something before it is offered to others. For example, a tenant whose apartment is going to be converted to a cooperative has the first right of ...
Another residence in addition to the main residence where a person or family resides. An example is a second home out of the city used on weekends and during vacations. Interest and real ...
The Graduate, REALTOR® Institute is a designation given to real estate agents who have completed the curriculum developed as an educational attainment program by the National ...
Storage of inactive items, including automobiles, for a certain period. Normally, a storage facility, charging a fee, provides dead storage of items. To prevent deterioration, dead ...
Judicial finding that the debtor owes an amount exceeding the value of the collateral put up for the defaulted loan. ...
Dividing a lot into two or more parcels. Normally a variance would have to be obtained to permit a lot split. The lot cannot be split unless they meet minimum area zoning requirements ...
Taxpayer can deduct losses only to the degree of risk. Amounts are restricted to the cash investment and the debt from which the taxpayer is personally liable. ...
Portion of a deed that states the act and date of the transfer of the property. ...
Ownership rights to the minerals or other precious resources, such as petroleum, in one's property. A property owner having the mineral rights to the property can do one of three things ...
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