Replacement Reserve
Money set aside to buy new assets when the older ones are no longer appropriate for the intended use. An example is when the landlord must replace a deteriorating and malfunctioning air conditioner or refrigerator in the tenant's apartment.
Popular Real Estate Terms
legal ruling providing protection to home buyers of defective homes bought from a seller who then sold the contract to a third party. ...
Funds put up by venture capitalists to finance a new business. Often, involves a loan or investment in preferred stock or convertible bonds. A major purpose of seed money is to form a basis ...
An insurance contract or home warranty, usually for one year, covering electrical, plumbing, heating, etc. ...
Character defines as a set of qualities that set apart a person, place, or object from others. When it comes to people, a character describes moral qualities and personality traits that ...
Property pledged to obtain a loan or credit. ...
Contract that intends to convey property form one individual to another but is defective in one respect. ...
Also called an installment sales contract or contract foe feed. A type of creative financing in real estate allowing the seller to finance a buyer by allowing him or her to make a down ...
Significant elevation of land. Narrow upward strip. Connection of edges between different sloping surfaces. ...
Owned by one individual or sole ownership. ...
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