Ratification


Definition of "Ratification"

Susan Kumpula & Edward Heitchue
  Remerica United Realty

Approval by an individual or business of a prior act. Without such confirmation, the
act would not be binding.


Search Real Estate Glossary

 

Related Real Estate Glossary terms

Second Mortgage

A loan with a second-priority claim against a property in the event that the borrower defaults. S ...

Inflation Equity

Increase in the value of property caused by inflation. For example, John buys a home for $150,000. B ...

Government National Mortgage Association (GNMA)

A federal agency that guarantees mortgage securities that are issued against pools of FHA and VA mor ...

Writ Of Execution

Court order to seize and sell property because of the nonpayment of taxes, or foreclosure of propert ...

Lemon Aid Insurance

Property and casualty coverage that indemnifies automobile dealers if a dissatisfied customer demand ...

Value In Use

Discounted value of net cash receipts to be obtained from a property. The present value calculation ...

Related Real Estate FAQ

What Are Jumbo Mortgages?

Jumbo mortgages are mortgages larger than the limits set by Fannie Mae and Freddie Mac. A jumbo mort ...

What Is An Overall Debt Ratio?

An overall debt ratio is the percentage of your overall debt (housing payments plus any other long-t ...

Why Should I Use A Real Estate Agent?

A real estate agent is more than just a \"sales person.\" They act on your behalf as your agent, pr ...

What Is A Mortgagor?

A mortgagor is the borrower. ...

What Is Escrow?

Escrow is a trust account created by a neutral third party to hold money for the seller or buyer. Wh ...

What Is A Home Warranty?

A home warranty is a guarantee for certain features of a new home-for instance, the materials and wo ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

Build or Buy? That’s the Big Question How To Sell Your Home 7 Tips for a First Time Homebuyer Why Use a Real Estate Agent? 5 signs of house foundation problems

FAQ

What do I need to know about Watercraft Insurance? What is a credit report? What are my coverage options? What are closing costs? Who is a subagent?