Absolute Sale
Ownership of property transfers from the seller to the buyer when the parties sign the contract.
Popular Real Estate Terms
Water/plaster mix used as a surface for walls and ceilings. ...
Property tax rate whereby each mill is $1 of tax assessment per $1,000 of assessed property value. For example, a house in Los Alamitos is assessed at $200,000 and the millage rate is 10 ...
The definition of a property brief is a document including the summarization of the attributes and characteristics of the property. Officially issued legal records are supposed to include ...
Insurance affording protection against losses due to damage to or destruction of property or contents therein. Insurance protects assets and any future income thereon from loss, such as a ...
Mortgage clause causing the mortgagor to pledge additional properties, mortgaged or not, as collateral to the present mortgage. Failure to pay any of the other mortgages causes a ...
Along with the square foot factor method, this is the most widely used method for estimating comparable building costs. The cubic foot factor method requires the computation of the cubic ...
Appraisal approach where property values are estimated by comparing current comparable sales. See also market approach. ...
Lender's written assurance that the borrower has fully paid the obligation. The borrower may then show this instrument to interested parties. ...
Decision rendered by a court of law. ...
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