Tax Exempt
Definition of "Tax exempt"
Tax-free status given to certain nonprofit organizations and governmental entities. Churches, charities, and government buildings do not pay property tax because of their tax-free status.
Popular Real Estate Terms
(1) Distribution channel through which originating mortgage lenders distribute mortgages to the Secondary Mortgage Market. Those purchasing mortgages distributed through the conduit ...
Lienholder's statement as to the unpaid balance on a trust deed note. ...
The definition of acquisition cost in real estate is the total cost recorded by a company or individual pertinent to the purchasing of a property. This is the entire amount written down in ...
America remains a top tourist attraction worldwide, with over 79 million foreign visitors a year. Many are seduced by the American Dream and sooner or later they wonder how they could ...
Court order whereby the bankrupt debtor is forgiven of this or her debts. Even though the debtor is no longer obligated for discharged debts, the bankruptcy remains in his credit report ...
Levy charged to use something such as water supplied by the town. ...
A lease contract to possess a parcel or property for a certain period of time. A leased fee estate is a conditional estate conveyance in real property for a specified period of time. The ...
Unimproved property. It has no utilities, sewers, streets, or structures and usually must be cleared. ...
Correcting depreciation by making improvements at less cost than the value added. For example, the management of an aging strip shopping center makes a decision to refurbish the windows and ...
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