Property Under Contract
Real property being offered for sale that has received a contract for sale but has not gone to a closing. Under these circumstances, it may be possible to accept a refundable binder for sale to a different purchaser should the original contract for sale not be completed.
Popular Real Estate Terms
Geographic location by itself with designated boundaries. An example is a district. ...
Risk involved when a potential buyer or seller of property decides not to buy or sell. For example, if a seller does not sell at the offered price, he runs the risk of not being able to ...
Latin abbreviation for the literal translation meaning" which see". ...
Not paying taxes legally due the government. Examples are the failure to report rental income received and claiming false deductions on real estate holdings. The penalty for tax fraud is ...
An individual legally fit and able to undertake an activity or function. ...
In insurance, charging the lowest rate accorded an insurance policy covering a minimum risk classification situation. For example, a homeowner's insurance for a home located within 500 feet ...
Interest deductible for taxes paid by the taxpayer. It is an itemized deduction on Form (individuals) or Form 1040 (individuals) or Form 1120 (corporations). An example is interest paid on ...
Debt secured by a lien on property. Commitments related to unfilled contracts for real estate. The purpose of encumbrances is to prevent further expenditure of funds considering the ...
(1) Right to engage in and earn from a particular activity in return for services or for a particular use. (2) Reduced price used as an incentive. (3) Permission or right, granted by a ...
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