Definition of "Tenement"
- City apartment building that is overcrowded, poorly constructed or maintained, and generally part of a slum.
- In law, a tenement also refers to possessions of an individual that are real property, that is, attached to the ground, such as land and buildings.
Popular Real Estate Terms
property having an easement right through another adjoining property. The property through which the easement passes is considered to have the servient tenement. ...
Real estate, home and life insurance use numerous ambiguous terms you should know because you can significantly benefit from them. Let’s discover what the word boot usually applies to ...
location where someone stays on a permanent basis. An example is a home to a family. ...
A judicially approved plan in which a persons obligations are paid over three years. It is an arrangement for the repayment of debts which permits a credit user in severe financial straits ...
Any financing agreement excluding a conventional mortgage from a third-person or entity lending institution. This type of financing is more prevalent when the price of real estate is too ...
Legal instrument permitting one to grant others general or specific powers for administering their finances. ...
Decline in the credit status of a prospective homebuyer. ...
Appraisal of a location before the purchase is made of it for potential environmental problems. ...
Discounted value of net cash receipts to be obtained from a property. The present value calculation includes consideration of annual cash inflows plus the disposal value. ...
Have a question or comment?
We're here to help.