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
Individual who by his expertise, education, and experience prepares syndication reports. ...
Act of obtaining land through condemnation. For example, when in interstate highway must be constructed, the land for the new road is obtained through takings. Usually, the government ...
Ask Price is the initial listed price for a piece of real estate.It’s important to understand that, in the real estate world, there’s no such thing as a fixed price when buying ...
Claim or debt that may be recovered by instituting a lawsuit. ...
Concrete with steel rods inserted into it to provide additional working load support. The premise is that both materials will act together in resisting loan stress. ...
Something that is illegal. An example is an unenforceable debt because it has exceeded the statute of limitations. ...
Reduction in the normal rental charge to attract prospective tenants or keep existing tenants at lease renewal. Discounts may be given to obtain a higher occupancy rate, make it easier of ...
Fee charged by a mortgage lender to a buyer, seller or both for transferring a mortgage when the mortgage property is sold. ...
Ownership of property by one individual. ...
Have a question or comment?
We're here to help.