Amount to be paid by a person or business for violating a statute or legal court order. It may also be assessed for violating the provisions of a contract. Examples of penalties are a charge made by the Internal Revenue Service for underpaying corporate income taxes, penalty assessed by a municipality for failing to pay property taxes, penalty due to prepaying a mortgage, amount arising from breaking a real estate contract, and fee due from prematurely terminating a lease.
Popular Real Estate Terms
Accurate measurement of land for the purpose of determining the boundaries of its perimeter, its contours, and area. Survey are generally required by banks and other lending institutions as ...
How much of an investment made in real estate has been recovered expressed in dollars or in percentage terms. ...
If you’re in the business of purchasing properties, maybe as a real estate investor, you might be wondering what is cost segregation. Well, first of all, it’s a study that deals ...
Net return rate earned on an equity investment in real estate after deducing any interest costs and taxes. ...
The Exclusive Right to Sell Listing is a type of Listing where the Listing Broker/Agent wins his/her commission even if he/she wasn’t directly responsible for the sale.Let’s ...
person's behavior partly genetic and partly learned through experience over time. Some people have good personal traits while others have poor ones. ...
The best atrium definition is that of a room with a roof open displaying the sky, but as with most things architecture (or even art) the atrium definition has changed with the passing of ...
Primary business district of a city or urbanized area having the areas major governmental offices, professional, and retail businesses represented. ...
Individual engaged in selling a product or service. The product may be an investment in real estate. In some instances, state law may require licensing to safeguard the public by requiring ...
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