Misrepresentation
Definition of "Misrepresentation"
Intentionally misstated or undisclosed facts, statements or representations. Misrepresentation is a form of fraud which could lead to cancellation of a contract or other liability. For example, an individual selling a home misrepresents the fact that the home is infested with termites. Upon discovering the true situation, the new homeowner wins a court settlement for the costs of repairing the damages.
Popular Real Estate Terms
Government owned lands, for conservation purposes or for specific uses such as dams and hydropower. Public lands are owned by federal, state, and local governments. Many public lands are ...
Mortgage for residential property. ...
Intentionally misstated or undisclosed facts, statements or representations. Misrepresentation is a form of fraud which could lead to cancellation of a contract or other liability. For ...
The definition of an open-end lease is what happens when someone rents a property for a monthly rate with the added obligation to make a large final payment when the agreement is over to ...
The broad use of credit to purchase a security. ...
The definition of in rem in real estate is a legal case against a property rather than a person. The legal application of in rem in real estate is most often seen when a homeowner defaults ...
Geographical area for which a given governmental agency has authority and responsibility. For example, the jurisdiction of a county court is the county in which it is located. ...
Personal income minus personal income tax payments and other government deductions. It is the personal income available for people to spend or save; also called take-home pay. It may be a ...
Same as term Veterans Administration Mortgage: Mortgage guaranteed up to 30 years by the Veterans Administration to veterans meeting minimum requirements. Originally established by the ...
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