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 most common definition of economies of scale refers to the decrease in production costs of a single item due to a business enterprise’s expansion. In short, mass production can ...
Also called a rollover mortgage. Provides a borrower with a fixed-rate mortgage that expires at a preestablished time, such as in four years. This permits the lender and borrower to ...
A business in which one or more person, with unlimited liability, called general partners, manage the partnership. There are also limited partners who contribute capital, but do not manage ...
One who agrees to pay the debts of another in the event that the debtor does not pay. The creditor can demand payment from the surety as soon as the debt becomes due. Although a surety ...
An agreement occurring from actions of those impacted, but not communicated in writing or orally. For example, it is presumed that a real estate agent will perform his or her obligations ...
Economic policies designed to reduce the fluctuation in the business cycle. An example is Federal reserve monetary policies. An attempt by an underwriter to prevent a market price of a ...
Individual making the payments in a mortgage or pledging a mortgage or property. ...
An adversary hearing allows both parties to an issue to present their views. A public procedure performed by an administrative or legislative body to investigate certain matters and ...
Process of conferring and consulting with clients concerning real estate investments and developmental projects. See also American Society of Real Estate Counselors (ASREC). ...
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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