What Is A Gift Letter?
Definition of "What is a gift letter?"
A gift letter is when an individual gives you money for a down payment as a gift, that person must write you a gift letter so that it can be included in your loan documentation.
Popular Real Estate Glossary Terms
Also called financial leverage. The use of borrower funds to magnify return. Trading profitably on the equity, also called favorable financial leverage, means that the borrowed funds ...
The legal definition of conversion is the act of using property or funds with which one has been entrusted for purposes other than those for which the property was intended to be used by ...
The American Society of Appraisers, also referred to as ASA, is the largest voluntary membership, a multi-discipline trade association that stands for and promotes its appraiser members. ...
Method of valuing a property through examination and comparison of recent sales of comparable properties. ...
Purchase of part of property or property rights when condemnation takes place. The owner must be justly reimbursed. ...
One who has died with a valid will in effect. ...
Changing property ownership. An example is the sale of a home to another. ...
A right or interest in property held by a third party, which often limits the use and diminishes the value of the property, but usually does not prevent the transferring of title. The more ...
Real estate, home and life insurance use numerous ambiguous terms you should know because you can significantly benefit from them. Let’s discover what the word boot usually applies to ...
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