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
Amount of money that must be charged or invested in the initial stage of a business transaction to demonstrate good faith as well as to help offset some expenses. For example, the customary ...
A clause that may be inserted in a listing agreement stating no commission will be paid to the broker until the property title has actually been transferred. Normally, willing and able ...
Inventory that is marketed and sold by an entity. ...
Group of rental occupants acting together. ...
The method for splitting a commission between a registered real estate sales person and the sponsoring real estate broker, and between the listing broker and the selling broker, or any ...
A life estate right of a widow on the demise of her husband, if he dies intestate, to all his lands and possessions for her and her children's support. If she dissents from his will, the ...
System of interconnected pipes, radiators, and/or ducts designed to heat a building utilizing a main heating unit. The system is controlled through a thermostat that regulates the ...
Upgrading made by a lessee to leased property. Examples are paneling and wallpapering. These improvements revert to the lessor at the expiration of the lease term. As improvement costs are ...
The economic indicators that trail behind aggregate economic activity. Six lagging indicators issued by the government consisting of unemployment rate, corporate expenditures, labor cost ...
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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