Nondisturbance Clause
- Clause inserted into a commercial lease by a mortgagee stating the lessee's current lease will not be terminated if there is a foreclosure action against the landlord for the failure to pay a mortgage. Without this clause, a tenant could be evicted in the event of a foreclosure action by the mortgagee.
- Clause inserted in a property sale agreement, where the property owner does not have mineral rights, stating any surface improvements made by the property owner will not be disturbed by any subsequent mineral exploration and recovery activities.
Popular Real Estate Terms
property suitable for residential living, such as a house, duplex, apartment, mobile home, or condominium. ...
An individual's possessions at his residences, such as furniture. A listing of items and their costs is recommended to obtain proper insurance coverage and as support for insurance ...
Everyone is aware of the perplexing complexities of a real estate transaction. Enter Opendoor, a company that aims to simplify this experience. If you're a house hunter, seller, real estate ...
A written document terminating the terms of a lien through payment of all financial obligations. A lien release is given by the lienor, the one holding the lien, to the lienee, individual ...
State court where civil disagreements are decided by the judge or jury. A written record is kept of the deliberations. In some stats, civil and criminal courts are combined. ...
A cost of funds index that most adjustable rate mortgages written in California in recent years are tied to. Computed by the Federal Home Loan Bank of San Francisco, it reflects the cost ...
Yearly tax return filed by an individual or couple. It is due to the federal taxing authority on April 15 for the preceding calendar year. The taxpayer reports gross income, adjustments to ...
Surface level of water. ...
In real estate, asking price is referred to as the amount set by the seller, the amount he/she wants to receive for the purchase of their home by the buyer. The asking price isn’t ...

Have a question or comment?
We're here to help.