Obiter Dictum
Opinion of a judge having no direct legal or binding effect on the outcome of a pending judicial decision. An obiter dictum is considered to be an incidental judicial remark about some point that may or may not be directly relevant to the matter before the bench. For example, while ruling in favor of a mortgagor in a foreclosure action brought by the mortgagee, a judge states an obiter dictum to the mortgagor saying "in the future, pay your bills on time".
Popular Real Estate Terms
A lender can be a private individual, a private or public group, or an institution that loans funds to a person or business that the lendee would later repay with interest in most cases. In ...
To pass property by will to an heir. Strictly speaking, real estate cannot be bequeathed to an heir, it must be devised. However, if it becomes clear the purpose of the testator was to ...
The term lock-in clause is used in an agreement that prescribes a period of time within which either of the parties that signed a contract cannot terminate the contract. In case one of the ...
Arrangement whereby a party providing financing gets a portion of the ownership. ...
Average of income, retail revenue, and population of a locality as a percentage of the entire United States. It reflects the economic status of a particular region. ...
For real estate investors, the vacancy and credit loss is a way to determine a property’s potential for profit. This value is determined by subtracting the losses brought by vacant ...
Payment received after the due date. A penalty and/or interest may be charged on such payment. For example, a bank may charge a penalty of $25 if a mortgage payment is received after the ...
Drain facility usually underground for waste and water disposal consisting on connected pipes. ...
Regulation of the Securities and Exchange Commission (SEC) establishing the criteria to avoid a private offering. For example, John wants to sell shares in an apartment house to several ...
Have a question or comment?
We're here to help.