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
Digital real estate refers to virtual online properties or assets that hold value, akin to physical real estate in the tangible world. These digital assets include domain names, websites, ...
Residing in or using real estate. An example is a tenant in an office building. ...
Relating to trees or shrubs normally found in temperate climates. Deciduous trees shed their leaves in the fall. Deciduous woods such as pine, oak, Maple, redwood, and spruce are widely ...
Also called interim financing. A mortgage that provides the funds necessary for the building or construction of a real estate project. The project can be a residential subdivision, a ...
The excess of total expenses over rental revenue for a real estate business. ...
Deed given by a trustee at a deed of trust foreclosure sale. ...
Land located on a precipice. ...
Amount charged for each unit of rental property. An example of a unit might be square footage of space or an apartment. ...
Grades have various definitions related to real estate and surveying land. Let’s have a look at the most common meanings of grades you’ll encounter in everyday life! Grades ...
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