Definition of "Trust"
An agreement in which the trustee takes title of the property ( called corpus) owned by the grantor (donor) to protect or conserve it for either the grantor or the trust's beneficiary. The trust is set up by the grantor. The trustee is typically given authority to invest the property for a return. Trusts may be revocable or irrevocable.
Popular Real Estate Terms
Financial interest a developer has in a development. The interest may be a direct investment or a percentage interest in the overall profit. ...
Style of life emphasizing outdoor activities, amenities, and recreation. Example are campers and barbecues. It is usually on a short-term basis. ...
Loan mandating equal periodic payments to pay off the loan subsequent to the last payment. ...
Contractual clause allowing one or both parties to terminate the agreement if a specified occurrence takes places. This is a cancellation clause, which allows the agreement to become null ...
Any property that is part of an estate and is real or personal, material or intangible, having actual worth or is worthless and can be directly willed to an heir. ...
In short, an overage means a surplus or an excess of money. An overage can present itself at a property at an auction where the asset has gone over the asking price. Suppose there’s a ...
Burdens one parcel of land (the servient estate) for the benefit of another parcel (the dominant estate). ...
Modification in the amount of money involved for some justifiable reason. ...
Barrel, reservoir, or tank for storing rain runoff. ...
Have a question or comment?
We're here to help.