Yearly tax return filed by an individual or couple. It is due to the federal taxing authority on April 15 for the preceding calendar year. The taxpayer reports gross income, adjustments to gross income, personal exemptions, deductions, and taxable income. The tax rate is graduated, based on taxable income. Income or loss from real estate property is reported on Schedule E.
Popular Real Estate Terms
Supports a structure. ...
An insect, such as a termite, that "eats into" the wood and destroys it. This can cause significant damage to the home. Most states have laws that require termite inspection and ...
A written document terminating the terms of a lien through payment of all financial obligations. A lien release is given by the lienor, the one holding the lien, to the lienee, individual ...
An agreement by which the owner of property (the lender) and a borrower agree to let the borrower use the property for a particular time period and in return the borrower will pay the ...
Outline or diagram of a structure or group of structures used for planning purposes. ...
(1) Flooring in a structure. (2) Open structure with flooring erected outside a main building. A deck can have different levels with direct access to the main structure. It is usually ...
Principle stating that all joint tenants must acquire their interest from the same deed or will. ...
Also called purchase money mortgage. A seller's claim to property held by a buyer as collateral for a debt or charge. ...
Same as term resale proceeds: Net amount received when property is sold. It equals the selling price less outstanding mortgage balance less all costs incurred in connection with the sale. ...
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