Retainage
Funds earned by the contractor for construction activity but held back by the owner of the property until the job is finished to a greater degree. This provides the contractor with an incentive to complete the work in a timely and qualitative manner in order to receive the amount retained by the owner. An example is a contractor who has thus far completed 75% of a new kitchen, but only received a 25% deposit with the balance payable upon the satisfactory completion of the job.
Popular Real Estate Terms
Branch of economics that is concerned with the study of factors that explain, and policies that promote, regional economic growth and development. Regional economic factors affect ...
Surveyor's use of hypothetical lines to portray a properties position. North to South in the meridian line while East to West is the base line. ...
(1) Civil: Individual against whom a court action is brought by a plaintiff for restitution of property or satisfaction of a complaint. (2) Criminal: Individual accused of a crime such ...
A narrow passageway between buildings providing secondary rear access. ...
A rental contact in which the tenant's rental is tied to a change in the price level, such as the Gross National Price Deflator. ...
Document, such as a deed, which demonstrates property ownership. ...
Actual notice to one or more individuals to cease and desist from performing a particular action. For example, a homeowner begins constructing several new rooms onto an existing house ...
Typically, the legal term attachment refers to seizing a person’s property, being charged with debt, and giving it to the wronged creditor until the process is in motion. Attachment ...
principal line running north and south in the government rectangular survey method. Other meridians, each 24 miles apart, are surveyed from the principal meridian. ...
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