Wood-destroying Insect
Definition of "Wood-destroying insect"
An insect, such as a termite, that "eats into" the wood and destroys it. This can cause significant damage to the home. Most states have laws that require termite inspection and certification when a house is sold. Many homeowners take out policies for an annual fee with termite companies as protection.
Popular Real Estate Terms
Fee payable because of late payment. For example, a mortgagor is assessed a $30 late charge by the bank for not paying the mortgage payment when due. ...
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Legal proceeding to exercise a right in a disagreement between private individuals or businesses. One party seeks a remedy against the other. It does not involve a criminal situation. ...
Substance or material used at the top of a chimney at the roof to inhibit the development of moisture and to protect the metal. ...
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Amount awarded by a government when a person's property is condemned and he must move. ...
The part of the amount received from selling or exchanging real property that is taxable income. ...
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