Definition of "Tax lien"
Claim made by a federal or local government agency against a taxpayer's property for delinquent or overdue taxes. The tax lien is effected through tax assessment, demand, and failure to pay. In some cases, a lien may be applied to property held by a third party. One the taxes are paid, the lien is released.
Popular Real Estate Terms
A clause that may be inserted in a listing agreement stating no commission will be paid to the broker until the property title has actually been transferred. Normally, willing and able ...
People say, in real estate, there's a lot more than meets the eye. If you're connected to the housing market in any way, you've probably heard the term "implicit cost." It sounds fancy, but ...
Uncertainties associated with real property including lack of insurance coverage in the event of fire or injury, high crime area, and environmental problems. This risk may be reduced ...
Window having several overlapping glass louvers that are installed in a common window frame and pivot synchronously as a window lever or crank operating device, installed at the bottom of ...
Open Listing is a type of Listing where home sellers allow a real estate agent to sell their house, while not providing any kind of exclusiveness: other agents can also attempt to ...
Short-term loan that is made to bridge the term between the end of one loan and the beginning of another. ...
Cash earnings generated from a real estate investment or property. Cash earnings equals cash revenue less cash expense. The cash earnings may or may not be discounted to its present value ...
Also called an installment sales contract or contract foe feed. A type of creative financing in real estate allowing the seller to finance a buyer by allowing him or her to make a down ...
Also called settlor. A trust created by a will starting upon the donor's death. It empowers a trust administrator to implement the terms of the trust. ...
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