Townhouse
An attached dwelling in a multiple housing complex having at least two floors and usually a garage. Such dwellings are typically found in condominiums and cooperatives.
Popular Real Estate Terms
The grantee who is the tenant of a life estate. When the tenant dies, the estate goes back to the grantor. For example, President Eisenhower and his wife, Mamie, were life tenants of the ...
Document showing the financial health of an individual that may be requested for a loan application to buy real estate. A Statement of Financial Condition present assets at estimated ...
Unanticipated damages incurred as the result of the sub effects of a parties breach of responsibility or contract. Consequential damages often result in financial compensation. ...
Book value is a quintessential term used in the financial world and the real estate business. Though, there are slight differences in its interpretation in these two areas of ...
Device that cuts off an electric circuit when the current becomes to strong. ...
The apportioning, disbursing, dividing, offering, or parceling out of property among individuals. (1) Probate: Court order to divide up and distribute the contents of an estate after the ...
Used to support two properties; it is attached to both. ...
Property highly leveraged. An example is when a landlord buys an apartment house paying minimum cash payment down and the balance on mortgage. ...
The assessment in real estate definition means the evaluation of a property’s value by an assessor. They are generally required to evaluate the property annually as the assessment is ...
Comments for Townhouse
If a triplex has a pair of side-by-side 2-story units with the 3rd unit sitting on the 3rd floor across the first 2 units, can the complex be made into townhouses?
Jun 11, 2019 12:39:56Hello, Reuben! Townhomes usually have their own entrance at street level, so you may turn your three unit property into two townhomes, although you should seek advice from your city first, and then, get a permit.
Jun 21, 2019 06:37:58Have a question or comment?
We're here to help.