Special Assessment
Charge levied against property owners to finance an improvement made by the local government which benefits the homeowners and commercial businesses. Examples are sidewalks and sewers.
Popular Real Estate Terms
Mortgage that has an interest rate that changes based on some event. For example, the interest rate may vary depending on changes in the prime rate or inflation rate. ...
Situation in which a person guilty of breaking a contract is required by the judge to fulfill his duties. Specific performance is required only if the item or subject of the contract is ...
Descriptive of the architectural development of property in a certain area. For example, a housing subdivision may use very similar building architecture throughout the development. All the ...
To acquit, exonerate, absolve, or discredit allegations. ...
Tenancy that may be terminated by one party- the tenant or the landlord- at any time. The agreement may be in writing or oral. For example, Jack has an oral agreement to use Christine's ...
Paneled brickwork between timber quarters, a framed wall, or partition. ...
Tax deduction for interest paid or accrued within the taxable year with respect to mortgage indebtedness. Interest is deductible on mortgages secured by principal and second homes. A ...
An agreement by which the owner of property (the lender) and a borrower agree to let the borrower use the property for a particular time period and in return the borrower will pay the ...
A real estate contract whose terms have been completely satisfied. ...
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