Definition of "License"
Document issued by a public or private institution to perform some activity according to legal requirements. There is usually a license fee. An example is a real estate license.
Popular Real Estate Terms
The person to receive the benefits of a trust when distribution occurs. Secondary beneficiaries may be nominated if the primary beneficiary predeceased the trust distribution. The ...
The assessment sales ratio is a way of measuring the accuracy of a property’s assessed value when compared to the property’s selling price. This measurement gives the ...
Public record in an assessment district listing the assessed valuation of all its assessed property. ...
Same as term appraisal: Valuation assessment of real property by an expert third party for the following purposes: developing a realistic market price. setting a market value at the time ...
Fee charged by a mortgage lender to a buyer, seller or both for transferring a mortgage when the mortgage property is sold. ...
Additional utility an individual receives when purchasing an additional unit of a commodity or service. Represents a trade off between units of cost and unit of utility. For example, an ...
Style of architecture originating at the German Bauhaus, or architectural institute, in the 1920's associated with the International School of architecture. The Bauhaus style emphasized ...
The definition of adjoining properties describes two or more real estate properties, lots, or parcels that shared a boundary. A property that shares a common border with another is ...
Lender has an equity interest in the property that is the subject of the loan. The lender shares in the increase in market price of the property as well as any net income generated. ...
Comments for License
Purged license, what does that mean?
Jan 21, 2020 17:58:48Hello, Nita! Purged as a legal term refers to clearing someone from guilt, charges, or accusations. This term is frequently used for driving records to suggest ways your driving records get purged from driving felonies or any other past records for that matter. This term usually applies for any sort of records, therefore, I think you meant purged license records to be more precise. This means nothing else than cleaning or clearing the records or history.
Apr 09, 2020 14:02:28Have a question or comment?
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