Immobility
- Unable to move a structure so it must stay where it is. Except for mobile homes, property is fixed at a particular site.
- Inability of a person to move because he or she is attached in some way to the general locality. For example, a homeowner in New York City may be tied to his or her job and therefore cannot move to another state because of the lack of job opportunities.
Popular Real Estate Terms
series of rows. townships moving as a row from east to west. It covers a 6-miles area in width. The term is employed under the rectangular survey method. ...
In real estate, the term "preamble" refers to an introductory statement that outlines the fundamental principles and goals guiding the industry's practices. Specifically, in the National ...
An increase in the income tax basis of a property that is a result of a tax-free exchange. As a result of an inheritance, for example, the basis of the inherited property was stepped up to ...
Latitude line selected as a reference in the rectangular survey system. ...
To put it simply, acquisitions are a common occurrence in the business world, and they happen to small, medium, and large businesses alike. The definition of acquisition is a company ...
report containing financial information about a business or individual. The required financial statements for a real estate company are balance sheet, income statement, and statement of ...
Landlords act of seizing a tenants property to satisfy defaulted rent payments. To distrain a tenants property the landlord must give proper legal notice and is often accompanied by ...
Dry ravine formed by water runoff. ...
Revocation comes from the verb "to revoke", which means to take back the validity of something. The definition of revocation is detrimental to contract law. It gives the person making the ...
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