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
Determination made concerning the motivation of a testator in making devises of the will. A will can be contested if it can be proved the testator did not have rational motives when ...
Where property is sold to the highest bidder. ...
When someone throws around the term “mobile home”, it almost requires further explanation to fully understand what that person is talking about. Why is that? Well, one mobile ...
The definition for the gross living area published by the Appraisal Institute’s Dictionary of Real Estate 4th Edition is: “The total area of finished, above-grade residential ...
Reformation in real estate means a legal action to straighten out an erroneous deed, a misleading document, an error, a paragraph, or a contract entirely which resulted from an ...
Taxpayer can deduct losses only to the degree of risk. Amounts are restricted to the cash investment and the debt from which the taxpayer is personally liable. ...
Aluminum or metal treated barrier that is placed between the concrete and wood of the foundation of a newly constructed building to prevent termites from infesting the wood. Many experts ...
Older property is bought usually by a governmental agency to be modernized and improved. In many cases, the deteriorating property is torn down and a new structure built. An example is ...
A fixed asset whose utility is derived from its physical attachment to a property and which usually cannot value or damage. A fixture, under the terms of a lease or other agreement, can be ...
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.