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
Geographic area that is attractive to prospective tenants. Square footage in an office building or apartment house that may be rented by a tenant. ...
Home loans backed by the Veterans Administration. The veterans Administration issues a 60% loan guaranty for a sum not to exceed $27,500. The mortgaged home must be a principal residence. ...
Physical record card where the date of the last assessment valuation and its results, as well as a property description are kept. ...
Tenant agrees to a replacement landlord. ...
provision in a written agreement allowing the prospective purchaser the right to cancel the contract if occupancy requirements are not satisfied as of a specific date. ...
Offering of new securities of a real estate company to the investing public, after registration requirements have been filed with the SEC. the securities are usually made available to the ...
Additions made to a structure to protect it from damage due to inclement weather. An example is reinforcing the wood surrounding windows. ...
The period for which a tenant has the right of possession; It may be for a fixed period of several years, or a period tenancy, such as month to month. The right or interest to have ...
Room in a building used to collect solar heat. To provide for such collection, a room is generally constructed with a glass roof and walls. ...
Have a question or comment?
We're here to help.