Statement Of Consideration
Enumeration of the consideration given by each party to a contract which in some cases must be in written form to be enforceable. For example, the statute of frauds requires that all contracts for the sale of real estate (transfer or ownership in real property by sale) be in writing.
Popular Real Estate Terms
Legal proceeding to exercise a right in a disagreement between private individuals or businesses. One party seeks a remedy against the other. It does not involve a criminal situation. ...
Interest a person pays before it is actually incurred. An example is a one year's interest that a borrower agrees to pay in advance to a bank on a mortgage. This rarely occurs. ...
The period when a financial debt, such as a mortgage, must paid. ...
Pipes transporting water. ...
Unrealized gain in value of real property from holding it. The increase value is not recognized in the accounts. When the property is sold there will be a realized gain or loss. ...
Assets owned by an individual as part of his or her estate except for land and everything attached to the land. Personal property may be either tangible, having physical substance such as ...
Probate court approved title issued to the distribute of an individuals intestate estate. ...
Owned by one individual or sole ownership. ...
If you have been wondering what can cause a market failure, the most common answer is externalities. An externality is an indirect cost or benefit to a neutral third party that comes from ...
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