Demolition Insurance
Definition of "Demolition insurance"
An insurance policy indemnifying a property owner up to the limits of the policy against fire or other hazard requiring the total destruction and removal of the structure.
Popular Real Estate Terms
Short-term loan that is made to bridge the term between the end of one loan and the beginning of another. ...
deliberate action by an individual or entity to cheat another causing damage. There is typically a misrepresentation to deceive, or purposeful withholding of material data needed for a ...
People say, in real estate, there's a lot more than meets the eye. If you're connected to the housing market in any way, you've probably heard the term "implicit cost." It sounds fancy, but ...
Owner has rights to water on his land. He also has a reasonable privilege to water adjacent to his property that flows through it or abutting it. ...
The modified gross lease is a hybrid type of lease agreement most commonly used in rental real estate where there are several rental units, for example, office buildings. These leases ...
Rule stating that the monthly mortgage payment, property taxes, and insurance should not exceed 25% of a family's monthly gross income, or about 35% for a Federal Housing Administration ...
Obtaining all the money needed for a real estate project's development. The acquirer/developer does not need to give any of his own funds for upfront costs. The developer also does not have ...
Financing of a home based on how much equity the homeowner has in it. The interest rate is typically a variable one. ...
Power of attorney giving permission for a lawyer to represent a client. ...
Have a question or comment?
We're here to help.