Strip Lumber

Act of obtaining land through condemnation. For example, when in interstate highway must be constructed, the land for the new road is obtained through takings. Usually, the government ...

Person leaving from work to spend time in leisure activities. pay in full the balance on a debt either at or before the maturity date. Penalties may be assessed on prepaying a mortgage. ...

Intent to deceive or never to carry out the provisions of an agreement. ...

Income (loss) resulting from the rental of real property in which the individual does not significantly participate. In most cases, passive losses may not be used to reduce active income. ...

In appraisal jargon, property currently being appraised. ...

Marketable title that is free of encumbrances and disputed interests. Clear title is essential in order to convey a general warranty deed in a transaction. ...

Way to acquire title to real estate when an occupant has been in actual, open, exclusive, and continuous occupancy of property for an extended period of time. ...

Beam, girder, or truss with the top portion being in the shape of a bow and the bottom portion being straight across and connecting both ends of the top portion. ...

A commitment letter is a formal offer of a loan by a lender. The letter states the terms under which the lender has agreed to the loan. ...

A treasury index is an index used to determine interest-rate changes for certain adjustable-rate mortgages (ARMs). This index is based on the results of auctions the U.S. Treasury holds for ...

A lifetime rate cap is an adjustable-rate mortgage (ARM), this cap limits the amount the interest rate can increase or decrease over the life of a loan. ...

Yes, you can use two realtors® to sell your house. Actually, more than two. You can use how many you’d like. It’s what is called an Open Listing. In it, the home seller ...

Hey, don’t feel ashamed for not knowing what is the difference between a real estate broker and a real estate agent. This is truly one of the most common real estate confusions out ...

Considering that property depreciation is the phenomenon of an asset losing worth due to its use over time, home depreciation is not only common but inevitable. However, this is ...

A seller takeback is a type of financing in which the seller arranges for the financing on a property. ...

Not only can homeowners associations impose pet restrictions but almost 100% of them do. Here’s the thing: the job of a homeowners associations or HOA is to look at the big ...