Forced Hot Air
A heating system consisting of a heating unit forcing hot air through an interconnected network of air ducts with outlets throughout the structure. The advantages if a forced hot air system are: rapid elevation of room temperature from forcing hot air through the outlets; the system can easily be converted into a central air conditioning system using the building; a humidifier unit can easily be attached to the duct work to maintain a comfortable level of humidity throughout the building.
Popular Real Estate Terms
The down payment on the price of a real estate. For example, it is customary to make a down payment of 10% of the value of a real estate parcel upon signing the purchase agreement. ...
Selling price for a property less assumed mortgages by the buyer. For tax purposes, the computation of the contract price is critical. ...
Bond whose interest is free of federal, state, or local tax in the state of the issuer. It is typically a municipal bond of estate or county agency. For example, a New York City resident ...
The right to demand that title be conveyed upon payment of the purchase price. ...
Charge levied against property owners to finance an improvement made by the local government which benefits the homeowners and commercial businesses. Examples are sidewalks and sewers. ...
Factor employed by real estate agents or appraisers to determine the change needed in operating income to obtain a desired rate of return. It is used to evaluate income-producing property. ...
Basis for the valuation of property acquired from a decedent for tax purposes. The unified transfer tax in 1976 provides for the valuation of property to be the adjusted basis immediately ...
Also called a will. Describes the disposition of property. ...
Stature regulating the use of credit information. Allows consumers such as prospective homeowners access to their credit files. It requires a lender to explain how loan interest is ...
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