Term

Definition of "Term"

1. A stated of years.
2. The length of time something is effective, such as a two-year rental.
3. A condition specified in an agreement. An example is that the tenant must not have a cat in the apartment.

   
   
   
   

   Search Real Estate Glossary

    

   Related Real Estate Glossary terms

   Credit Score

   A single numerical score, based on information in an individual's credit report, that measures that ...

   Green Lumber

   Lumber that has not had adequate time to dry and be seasoned. Green lumber may actually appear green ...

   License Laws

   Laws enacted by every state governing the activities and requirements of real estate salespeople and ...

   Single Premium Variable Universal Life Insurance

   Type of universal variable life insurance policy that provides guideline premiums to be paid usually ...

   Condition Precedent

   Contractual obligation that requires one party to the contract to fulfill its obligation before anot ...

   Appraisal

   Valuation of property for damage resulting from an insured peril or for establishing the base amount ...

   Related Real Estate FAQ

   What Is A Fixed-rate Mortgage?

   A fixed-rate mortgage is a type of mortgage in which the interest rate is fixed for the life of the ...

   What Is A Mortgagor?

   A mortgagor is the borrower. ...

   What Is Comprehensive Homeowners Insurance?

   Comprehensive is the most expensive type of homeowners insurance; it covers the most potential damag ...

   What Is Cooperative?

   Cooperative is a form of home ownership in which you own shares in a corporation. In return for the ...

   What Is A Buyer's Agent?

   On most transactions, there is usually a listing agent and a selling agent. The selling agent is som ...

   What Is A Foreclosure?

   A foreclosure is the legal process by which a mortgage property is seized due to default and then so ...