Title Company
An insurer who researches the title to real estate for the purpose of discovering any unknown liens or encumbrances on the property that may have come into effect before the current purchase of the property. Mortgage bankers lending money to home buyers generally require the purchaser to purchase title insurance. If, after the purchase, a recorded encumbrance surfaces that was not discovered by the title company, it is paid by the title company to the insured as a claim
Popular Real Estate Terms
Average of income, retail revenue, and population of a locality as a percentage of the entire United States. It reflects the economic status of a particular region. ...
(1) Cash revenue from product sales or services rendered less cash expenses. It is different from accrual earnings. (2) The money available after deducting operating expenses and mortgage ...
Regular rental of property between the lessee and lessor for a fee. An operating lease does not satisfy the criteria for a capital lease. An example is renting an apartment. A lessee ...
Bank modifies the borrower's mortgage obligation, such as when the bank approves the homeowner's request for an extension of time to pay because of illness or loss of a job. One's ...
Nonload bearing layer of brick covering a wall of decorative purposes only. The wall is usually constructed of wood framing or masonry block. ...
Distribution of population over a given area of land. ...
Transfer of personal property via a will as a gift to the recipient. ...
Giving of a promise or guarantee to the receiver to instill confidence. ...
Wedge-shaped step found on a spiral staircase with a wider tread on its outside portion. ...
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