Title Theory States
Some states make the legal assumption, based on title theory, that the mortgagee is a partial owner of the real estate securing the mortgage and remains as is until the debt is fully paid. That is, if the borrower defaults, the lender may take immediate control of the property for purposes of satisfying the outstanding debt. In other states where lien theory is followed, the mortgage lender may not take immediate possession of the property, but rather must initiate foreclosure proceedings.
Popular Real Estate Terms
The phrase cool by association is something that we are all familiar with as we probably encounter it during our daily lives. In real estate, this principle can be exemplified through the ...
Income (loss) resulting from the rental of real property in which the individual does not significantly participate. In most cases, passive losses may not be used to reduce active income. ...
Gentrification is an urban development phenomenon wherein a specific area changes its population profile by way of an economic appreciation of its real estate. The best way to understand ...
The abstraction method is a valuation procedure used to determine the land value relative to the total market value of the property. The abstraction approach is most often used when there ...
Simulation that enables investors to determine variations in the rate of return on an investment property in accordance with changes in a critical factor. It is an experiment with decision ...
One based on the whole body of the law. A lawful right is being exercised. ...
A written mortgage document. A mortgage instrument states the terms of the mortgage including the interest rates, length of payments, payment dates, and remedies the bank is entitled to in ...
The amount of money a developer must directly invest in order to obtain a development loan. It pays for the initial development cost including costs for items such as architectural plans, ...
The return by owners of a property investment usually through a depreciation allowance. a clause in a contract permitting the prior owner of real estate to recover under certain ...
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