Tax Basis
The cost of property, such as a home owned for tax purposes. For example, a home was purchased for $150,000. capital improvements to it cost $15,000. The house was later sold for $230,000. the gain on sale is $65,000 ($230,000-$165,000).
Popular Real Estate Terms
Also called biannual; twice a year. An example is when lease payments are due January 1 and July 1. ...
List of dwelling units, such as homes. ...
Net return rate earned on an equity investment in real estate after deducing any interest costs and taxes. ...
Individual having permission to act ob behalf of a bank or other financial institution in a specified locality to attract interest borrowers. ...
Geographic location that is gradually being developed as an urban area. ...
People often ask themselves, what does interim mean? By definition, interim means a break or pause in a particular activity. As an adjective, interim means a temporary, provisional, or ...
Pledge of personal property, e.g., furniture, as collateral for a note. If the debt is not paid, the holder of the mortgage will receive the mortgaged property. See also mortgage. ...
Charges incurred in making a sale of real estate such as real estate commissions and attorney fees. ...
Right to property depends on some occurrence. ...
Have a question or comment?
We're here to help.