Definition of "Rebate"
- Amount paid back or credit given because of an overcollection or the return of property sold. Also called refund.
- Unearned interest refunded to a borrower if the loan is paid off before maturity.
- Payment to a buyer after a purchase is made as an inducement to buy.
Popular Real Estate Terms
Connected group of wires, woods, or other materials surrounding real property to either protect it or act as a barrier against others. ...
Provision guaranteeing the return of title to a mortgagor upon satisfaction of a mortgages conditions and terms. Causes the discharge of a mortgagees estate interest in a property. ...
Approach to valuing property based on its replacement cost. The cost of each major element of the property per square foot is added together and multiplied by the total space to estimate ...
Taking back property when the borrower defaults on the loan. ...
Proposing or presenting for acceptance a price for a property parcel. Evidence of willingness to enter into a sales agreement. The bid price in a real estate or security ...
Method of finishing edges of walls, window jams, doors, or projections with decorative strips of wood to give a better appearance as well as providing protection from jagged edges and ...
Claim made by a federal or local government agency against a taxpayer's property for delinquent or overdue taxes. The tax lien is effected through tax assessment, demand, and failure to ...
Reformation in real estate means a legal action to straighten out an erroneous deed, a misleading document, an error, a paragraph, or a contract entirely which resulted from an ...
Any lease with a specific starting time and a specific ending time. ...
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