In an adjustable rate mortgage (ARM), the maximum rate that can be charged during the mortgage period. For example, John obtained an $80,000 6% ARM having a lifetime rate cap of 10.5%.
Popular Real Estate Terms
Roof having a concave angle. ...
A company that is terminated within 3 years. According to the tax law, a gain arising from the sale or liquidation of such a business is considered ordinary income to the individual ...
Heading of a document, such as a real estate report. ...
(1) Qualifications applying to an estate occurring when the estate is feated or enlarged. (2) Restrictions in a deed. See also condition precedent; condition subsequent. ...
Situation in which a business debts exceed the fair market value of its assets. ...
Rights granted to owners of property restricted to conservation use, historic preservation, or some other low density function to sell to other landowners allowing them to develop their ...
Reconsideration of the value of real property. An example is getting property appraised each year to determine its current value for tax or purposes of determining whether to sell ...
A wall or roof which extends beyond a lower wall. ...
Alias is a different name by which a person is known.In the real estate world, there are times when an agent goes by a different name than the one he/she was originally named by his/her ...
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