Depletion
Definition of "Depletion"
Also called earnest money. Money deposited with an individual for security for the performance of some contract. This is intended to show his/her willingness to follow through with the purchase agreement. Deposit or earnest money can be forfeited if the depositor defaults on the terms of the contract.
Popular Real Estate Terms
The meaning of a guarantee covers a legal and financially-binding agreement signed between three parties involved in real estate or financial transactions. In this document, typically ...
Contract in which the borrower agrees to the terms of a loan including payment dates, interest rate, total cost of the loan, and late payment fees. ...
3D Printed Homes are basically homes that were printed via 3D Printers. Though semantically the phrase is pretty obvious and straightforward, there’s a lot we need to contextualize ...
Housing where affirmative action is proactively pursued protecting the housing rights of people of all races, nationalities, and religions. ...
Person receiving la legacy from a will. Normally a legatee will receive personal property possibly including real property. ...
Interest in real property that exists when a tenant remains in possession of leased premises or a "hold over" after his right to possession has ended. In a tenancy at sufferance, a tenant ...
property suitable for residential living, such as a house, duplex, apartment, mobile home, or condominium. ...
Right to select something or perform some act. An example is a renter of property that is given the option to buy the home at the end of the rental period or to renew the lease. Not ...
Buffer amount between the value of the collateral and the principal balance of the obligation. For example, if the mortgage has a principal balance of $200,000 and the appraised value of ...
Have a question or comment?
We're here to help.