Legal responsibility for something. For example, an owner of commercial property (e.g., restaurant) is legally obligated for damages on that property (e.g., restaurant patron falls and breaks his leg because of a wet floor).
Popular Real Estate Terms
individual who purchases property for another for the purpose of not identifying to the seller and other interested parties the real identity of the true acquirer. The individual who makes ...
Heat resistance measure commonly used with insulating material, outside walls, and roofs. The higher the R value, the more heat transfer resistance a material has." ...
Stipulation in a contract on how property can or cannot be used. For example, a rental agreement may stipulate that an apartment may not be used for retail trade. ...
A liability that does not go beyond the owner's investment in a real estate business. A corporation and limited partners have this benefit. The stockholders of a corporation usually have ...
Certification granted by the Realtors National Marketing Institute, which is affiliated with the National Association of Realtors. ...
Single-family dwelling attached to other units by common walls. ...
The value of property subject to tax. The tax equals the tax rate multiplied by the property's value. ...
Inverted gable roof design where the two side slope upward from the center to the eaves with a valley in the middle. The roof resembles the wings of a butterfly, hence, the name. ...
Significant elevation of land. Narrow upward strip. Connection of edges between different sloping surfaces. ...
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