Lis Pendens
Notice of a pending suit; a public notice given to prospective purchasers and any one else considering an interest in property that the title is being legally challenged, and the outcome is subject to a judicial ruling. For example, a municipality is about to begin an eminent domain proceeding against a parcel of property, an a lis pendens is filed giving public notice of the pending legal action.
Popular Real Estate Terms
Same as term higher and best use: Use of a parcel of land that will produce the greatest current value. ...
Structure that has the same blue print and design as all the other homes in a given development; the opposite of custom built. ...
The right of a person or business to renew a contract. For example, the tenant may have the right to renew a lease for a specified amount and term. ...
An unpreventable, overwhelming, and irresistible force. It is common to place a force majeure clause in a construction contract to indemnify a construction deadline in the event an act of ...
Regularly, subsequent means something which occurs at a later date. In other words, a subsequent event follows a prior occurrence. For example, new circumstances arise after a contract is ...
Arrangement whereby a party providing financing gets a portion of the ownership. ...
Percentage of rentals estimated not to be made because of actual and anticipated vacancies. ...
Under a FHA-insured mortgage, both the property and the borrower must meet certain minimum standards. The borrower is charged an insurance fee of one-half percent on the unpaid balance and ...
Organization that manages the relocation of the employees of client companies from one area of the country to another. A relocation service will manage home sales and purchases in another ...
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