Definition of "Credit"
- A purchase of real property made on account.
- Loan extended to business or individuals to buy real estate.
- In taxation, a dollar-for-dollar reduction in taxes. An example of a tax credit is the housing rehabilitation credit.
- Form of trust established between a lender and a borrower.
Popular Real Estate Terms
Local regulation on how real property may be used in a particular locality. The county may establish different zoning classifications and restrictions. If the ordinance is violated, ...
Choosing alternative real estate investment instruments having different risk-return features. Diversification can be done by regions and types of real estate. Diversification provides a ...
The clear, open and active occupancy of real estate. For example, notorious possession is one of the tests for adverse possession. ...
Return before taxes on the capital invested in real estate property. ...
Rule of thumb approach used to determine how long it takes to double an investment in real estate. Under this approach, dividing the number 72 by the fixed rate of return equals the ...
(1) Supporting the joists of a floor with small pieces of wood. (2) Providing temporary financing such as a short-term loan, to a real estate developer before long-term financing can be ...
Prepayment to a landlord for refurbishing the unit beyond what would be anticipated from customary wear and tear. It is like a damage deposit. The security deposit may be refunded at the ...
A lien which is secondary to a senior lien and cannot be paid until the senior lien is satisfied. ...
The definition for the gross living area published by the Appraisal Institute’s Dictionary of Real Estate 4th Edition is: “The total area of finished, above-grade residential ...
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