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
Real annual return on a real estate investment. It equates the initial investment with the present value of future net cash inflows from the investment. The IRR can be determined by using a ...
An insurance policy indemnifying a property owner up to the limits of the policy against fire or other hazard requiring the total destruction and removal of the structure. ...
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The Principle of conformity states that conformity is achieved when all the entities or objects comply to the same standard, rules or laws. This creates a balance and stability between ...
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Legally proper instrument under seal that transfers title to real property from the seller to buyer. ...
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When we talk about adverse environmental impacts, we always refer to the man-made negative impact on the environment. An adverse environmental impact can be defined as negative changes that ...
Platform erected on a roof in some New England homes having a view of the sea. It was said widows of lost seaman would walk on the platform looking out at sea for their husbands to return ...

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