REMAX Professionals Select

Real Estate Glossary Terms

• Impound Account

  An account into which payment is made for particular expenses to assure that money will be available. An example is a special account the homeowner's attorney establishes for advance funds he receives in connection with the sale of property. ...

• Defendant

  One of two parties in a negligence lawsuit (the other party being the plaintiff) from whom the plaintiff seeks releases because of bodily injury and or property damage incurred as the result of the defendant's allegedly negligent acts. ...

• Disclaimer

  Statement issued by the insurance company denying a claim under the insurance policy on the grounds that a condition or policy provision has been breached. ...

• Series Of Catastrophes

  Hazard covered under catastrophe reinsurance. This form of excess of loss reinsurance protects the ceding company for loss above the retention limit caused by multiple catastrophic events. ...

• Tender Offer Defense Expense Insurance

  Coverage for defense costs incurred in defending a company from an unfriendly takeover attempt. Hostile takeovers have been one of the hottest business topics in recent years. Vulnerable companies have responded in a variety of ways including changing the corporate bylaws, selling off their most att ...