Metropolitan Area
Definition of "Metropolitan area"
Urbanized area in and around a major city. The metropolitan area may overlap county and state boundaries and may encompass a city, its suburbs, and the orbit of its social and economic influence. For example, the New York metropolitan area is the largest overlapping portion of the states of New Jersey and Connecticut as well as numerous counties and has more than 18 million people. The New York metropolitan area is followed in size by Los Angeles, Chicago, San Francisco, and Philadelphia.
Popular Real Estate Terms
Rental due on the leased property is formulated as a percentage of sales volume. There is typically a minimum rental specified. An example is a retail store that pays rental based on its ...
Gradual and steady increase in the general price level which is bearable in the near term but may result in significant long-term price increases, See also galloping inflation. ...
Obtaining all the money needed for a real estate project's development. The acquirer/developer does not need to give any of his own funds for upfront costs. The developer also does not have ...
When talking about the open space ratio we are referring to a term that is used in zoning laws and regulations. The open space ratio is a term used to measure open space on a developed land ...
Loss of property from nonfulfillment of some duty or condition. In some cases, forfeiture is required by a court order, whereas in other cases the nonfulfillment of a contractual debt is ...
An easement granted to a public utility. ...
Relationship between individuals or entities out of which exists a mutual interest. An example is a privity of contract among the contracting parties concerning the actions each are to take. ...
Court having the responsibility of performing probate of wills and administering estates. In certain states, a probate court can appoint guardians for minor children of an estate. ...
Appraisal approach where property values are estimated by comparing current comparable sales. See also market approach. ...
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