Horizontal Property Laws
Definition of "Horizontal property laws"
Body o law relating directly to condominiums and cooperative developments. Most property law provides vertical ownership of property in the sense that property owners own mineral rights as well as air rights to property. Horizontal property laws do not allow property owners to own the land on which their apartment unit is located.
Popular Real Estate Terms
In any field, from the corner store or long-term rentals, the potential gross income is the expected revenue earned from a sale or the rendering of services. The potential gross income ...
Individual who has a legal obligation to pay money to another. ...
Interest rate on a mortgage that moves up or down based on some variable such as an index of lender's cost of funds, inflation rate, or prime rate. ...
Primary business district of a city or urbanized area having the areas major governmental offices, professional, and retail businesses represented. ...
Concept used in valuing real property that conditions may be altered requiring a revised estimate of market value. These conditions include a shift in the demand/supply relationship, ...
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Used when determining the worth of an annuity that reinvests the amount of recaptured investment at a risk-free interest rate. ...
Some plausible, but not completely clear-cut indication of ownership rights. It supplements a claim to title to property, but does not actually establish it. ...
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