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
Housing whose rental payments are reduced because of aid granted by the federal, state, or local governments, private enterprises, or individuals. For example, monthly rental payments for ...
Real annual return on a real estate investment. It equates the initial investment with the present value of future net cash inflows from the investment. The IRR can be determined by using a ...
Interest computations based only on the original principal. For example, the simple interest on a $100,000, 8% loan is $8,000. It is compared with compound interest which is applied to the ...
Homes with division of ownership or use of a resort unit on the basis of time periods. For example, a resort home may be divided into 25 time shares of two weeks each, with two weeks left ...
Rental agreement directly between the landlord and tenant. If the tenant then rents it out to another, it is referred to as a sublease. The relationship takes the following form: ...
Land parcel bounded by two intersecting roadways. ...
The definition of a rambler house is quite simple in nowadays circumstances as any one-story home or ranch is also referred to as a rambler. The typical rambler house, however, has some ...
Rate of return of capital invested in building improvements. Is segregated from land investments and provides a method of separating property income streams between improvement and land ...
Bankruptcy declared by any insolvent person or business. In contrast to involuntary bankruptcy, which is applied for by the creditors. ...
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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