Corporation
Business organized as a distinct legal entity with ownership evidenced by shares of stock. To form a corporation, "articles of incorporation" must be filed with the state. When approved, the state issues to the real estate company a "certificate of incorporation". The two documents in combination are referred to as the "corporate charter". each founding stockholder receives a certain number of shares of stock. A stockholder may sell his or her shares to others. A corporation is a legal entity separate from its owners. Advantages of the corporate form are unlimited life, limited liability of owners, ease to transferring stock, ability to obtain significant funds through public issuance of securities, and professional management.
Popular Real Estate Terms
Real estate bought and leased to tenants to obtain rental income. ...
Charges billed for services rendered. They may be on a flat basis or on an hourly rate. ...
Room in a building used to collect solar heat. To provide for such collection, a room is generally constructed with a glass roof and walls. ...
Matters that need to be rectified in a home or building prior to its sale or acceptance by a new owner. For example, a leaking water pipe should be repaired prior to showing the property to ...
Self-employed contractor who may perform work on a structure such as residential or commercial property. ...
Are you speculating what a spec house means? (sorry for the lousy pun) The textbook spec (or speculative) house definition is “one built on an experimental basis, without an order ...
Structure built into the water from the land providing a facility for boats to tie up. A dock will often provide utility access ...
Make changes to existing property. Example are putting in a new bathroom, kitchen, or basement ...
British thermal unit-a unit of energy associated with the creation of heat. Prior to 1929, it was defined as the amount of heat required to raised the temperature of 1 pound of water 1 ...
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