Closing Escrow
All of the conditions of the purchase and sale agreement have been fulfilled. The escrow agent prepares a written summary of the funds received in escrow, and the moneys paid out. The agent records the new deed with the County Recorder, and delivers a new deed to the buyer. Any remaining funds from the purchase price are then remitted to the seller. When the escrow has been accounted for, title is given to the buyer.
Popular Real Estate Terms
Site where mobile homes are located. Mobile home parks are often mandated by municipal zoning laws. They provide necessary utilities to the mobile homes often including recreational ...
Unlimited interest in property. A freehold estate may be a fee simple or file estate. Freehold estate includes freehold in deed, a fee simple estate; freehold in law, an inheritable estate; ...
Word, or group of words, that identifies a business or one of its products. The name is registered with U.S. Patent Office and provides legal protection for an indefinite number of renewals ...
The process of changing, updating, and altering the appearance and structural characteristics of a building. For example, John remodels the kitchen in his home by replacing the cabinets, ...
To clip or prune shrubbery,etc. ...
The interest left in an estate after all costs have been deducted. For example, if a business is willed to X for life with the balance to Y upon X's death, Y has a remainder interest. ...
Wires, such as for electricity, places beneath the floor of a structure. ...
Interest based on a 360-day year instead of a 365-day year. The former is referred to as simple interest and the latter is termed exact interest. The difference between the two types of ...
(1) Financial ability and soundness of a business or individual to afford the purchase of property. (2) Worth of the dollar in real terms considering inflation. ...
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