Ordinance
Definition of "Ordinance"
Law enacted by a local authority applicable to the action of people or things. An example is a fine of $5,000 for littering vacant real estate.
Popular Real Estate Terms
The meaning of a guarantee covers a legal and financially-binding agreement signed between three parties involved in real estate or financial transactions. In this document, typically ...
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Housing where affirmative action is proactively pursued protecting the housing rights of people of all races, nationalities, and religions. ...
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Right to select something or perform some act. An example is a renter of property that is given the option to buy the home at the end of the rental period or to renew the lease. Not ...
Buffer amount between the value of the collateral and the principal balance of the obligation. For example, if the mortgage has a principal balance of $200,000 and the appraised value of ...
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