Consideration
Definition of "Consideration"
(1) Anything of value given to induce a person or entity into entering a contract. It may be money, personal services, or the trading of property. A valid contract requires adequate consideration. (2) The amount actually received form the sale of securities of a real estate company after deducting all the expenses including taxes on the sale and commission to the broker from the gross receipts
Popular Real Estate Terms
A rule that the price of a house should not exceed about 2 to 2.5 times your family's gross annual earnings. Example : If annual gross income is $70,000, the highest price one could afford ...
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Single mortgage or other encumbrance that covers more than one piece of real estate. ...
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Legal instrument permitting one to grant others general or specific powers for administering their finances. ...
tenancy having no written lease or contract. A periodic tenancy can be on a month-to-month or week-t-week basis. ...
Home designs developed after World War II incorporating modern technology, materials, and architecture including energy conservation methods to achieve a highly functional structure. ...
Annual Percentage Rate (APR) is a measure of the cost of credit that must be reported by lenders under the Truth in Lending regulations. The Annual Percentage Rate (APR) takes into ...
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