Installment Sales
Definition of "Installment sales"
- A way to sell and finance property by which the seller keeps title but the buyer takes possession while installment payments are being made. The gain is taxed while the mortgage principal is collected.
- A sale of real estate involving periodic cash receipts. This is different from an immediate cash sale.
- Transaction with a predetermined contract price in which payments are made on an installment basis over a period of time.
Popular Real Estate Terms
Same as term government rectangular survey: Way in which the U.S. government uses to subdivide public land. Land is designated as either a base line (East-West) or principal meridian line ...
Street terminating at one end with only one outlet. A dead end street is not a through street. See also cul de sac. ...
Interior building trim surrounding windows, doors, and baseboards. Interior trim is both decorative and functional. It comes in several different styles and serves to finish the adjoining ...
Lien prior to another lien taking precedence over it. A senior lien may not necessarily be a first lien. ...
Doing business as, or DBA, means an official moniker for your enterprise or company. Regularly, a DBA is a state certificate serving as a registration name and issued under a ...
Dividing a lot into two or more parcels. Normally a variance would have to be obtained to permit a lot split. The lot cannot be split unless they meet minimum area zoning requirements ...
Early American architecture modeled after the English Georgian architecture having two or three stories with a rectangular design and ample ornamentation often including a widow's walk. ...
Request of a local government's planning body to alter the zoning requirements based on a justifiable reason. ...
Real estate, home and life insurance use numerous ambiguous terms you should know because you can significantly benefit from them. Let’s discover what the word boot usually applies to ...
Have a question or comment?
We're here to help.