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
(1) Subunit integral to a larger unit. (Usually associated with furniture). (2) Permanent fixture or appliance which is not intended to be portable and cannot easily be removed. A home has ...
Representation on a flat surface of any region that depicts the elevation of that region. ...
Individual: Adjusted gross income less itemized deductions and personal exemptions. After taxable income is computed, the tax to be paid can be determined by looking at the tax rate ...
Residential structure designed to house more than one family. Smaller multifamily housing units include duplexes, triplexes, and quadriplexes. Larger multifamily housing is normally termed ...
Amount required to payoff the full balance of the mortgage today. The amount equals the principal balance plus any prepayment penalty. ...
Provision in a lease agreement in which the lessee is given the right to buy the property at the end of lease term. In many cases, the option price is attractive to encourage acquisition. ...
Permission to do something that differs from the basic zoning requirement. An example is a homeowner receiving special authorization to build a two-family house in a single family zoned ...
Way to determine the capitalization rate of income property for valuation purposes by weighting the rate of interest and source of financing in percentage terms. ...
Bottom of a frame such as a window sill. ...
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