Definition of "Bylaws"
Regulatory rules that have to be followed by the organization in conducting its activities.
Popular Real Estate Terms
Process of simultaneously appraising several pieces of property. Normally, occurs when a local government conducts a reassessment. ...
Ownership of property transfers from the seller to the buyer when the parties sign the contract. ...
Individual making the payments in a mortgage or pledging a mortgage or property. ...
Real rate of interest on a loan. It is the coupon rate divided by the net proceeds of the loan. Assume Sharon took out a $1,000,000, on year, 10% discounted loan to buy real estate. The ...
If you're involved in real estate, whether buying, selling, or investing, you might have come across the term "alluvium." It's not just a fancy word but an important concept. Let's delve ...
An oral will made by a testator/testatrix just prior to death before an insufficient number of witnesses. Nuncupative wills depend on the oral testimony of those witnesses present as proof. ...
Trading of two or more properties containing separate descriptions and separate financial statements. ...
(1) Government seizes private property, but does not provide fair and reasonable compensation for it. (2) Property is seized and the owners rights abolished because of a legal violation. ...
Reduction in taxes payable to the IRS or local government. A tax credit is more beneficial to the taxpayer than an itemized deduction because it reduces taxes on a dollar-for-dollar basis. ...
Comments for Bylaws
I purchased a lot in a community that has a restriction one breaking up partials of land that I wasn't aware of. What are my options now? and what am I liable for?
Oct 30, 2018 16:30:48Ed, we suggest you talk with a real estate lawyer. Maybe the laws of your city do require that the home seller discloses that information and, if that's the case, maybe you can have the money back or make him/her responsible for whatever fees should that be the case. But find a LOCAL real estate lawyer to better inform you. Good luck!
Oct 30, 2018 16:35:52Who is bound by real estate community restrictions, buyer or seller?
Oct 30, 2018 10:33:43Hey Ed,
Anyone who lives within that community is bound by its restrictions, so, in a way, both. Once the seller leaves the community he or she is no longer bound to those restrictions. Once the buyer becomes a resident, he or she becomes bound by its restrictions.
Oct 30, 2018 15:13:06Have a question or comment?
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