Locked-in-period
Period of time interest rates are guaranteed by lock-in-clause. The guarantee period of time is longer during stable economic periods with low rates of inflation.
Popular Real Estate Terms
Mortgage banker is the person or business that originates mortgages and receives payments. The mortgage banker typically sells these mortgages to investors and obtains service fees for the ...
Amount of tax to be paid based on taxable income. The tax rate usually changes as the unit of the tax base changes. Individual: Tax rate depends on whether the tax return is for a ...
Documentation of ownership. An example is a deed to land. ...
Are you speculating what a spec house means? (sorry for the lousy pun) The textbook spec (or speculative) house definition is “one built on an experimental basis, without an order ...
Monitoring and administrating a mortgage lien after it has been made. This may include monthly payments, record keeping, handing tax and insurance record, and foreclosure of property. A ...
To understand the definition of the term demised premises, one must understand what demise means. Because demised premises is a widespread use for the term demise. The demised premises ...
Heterogeneous (as opposed to homogenous) means diverse in nature applied to a place or object composed of separate and distinct parts. In other words, heterogeneous describes something that ...
Legal dictate that must exist for property to be owned as joint tenants. ...
The most common definition of a subdivision in real estate terms is when a piece or parcel of land (referred to as a plot) is divided into smaller parts by its owner. A subdivision’s ...
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