Ordinary Interest
Interest based on a 360-day year instead of a 365-day year. The former is referred to as simple interest and the latter is termed exact interest. The difference between the two types of interest can be significant when a substantial investment is involved.
Popular Real Estate Terms
Process of simultaneously appraising several pieces of property. Normally, occurs when a local government conducts a reassessment. ...
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 ...
If you came here looking for the Sublease definition, chances are that you know what it means, but you need more information about it, with scenarios and facts to better grasp it. ...
Fund set aside for periodic payments, aimed at reducing a financial obligation taken out to buy real estate, or to accumulate enough funds to buy property or plant expansion. The principal ...
Large heavy piece of wood or other material generally running horizontally through a building providing support for other parts of the structure. The stringer usually runs in the direction ...
Illegally keeping or holding on to someone else's property. An example is a tenant staying in the apartment after the lease has expired. A court order may be sought to evict the tenant. ...
Association of people not treated as a corporation. Examples are a limited partnership and a group of cooperative owners. ...
The term amenity value refers to the worth or pleasant feeling added by using or seeing something. The amenity value definition would be the value that an individual amenity adds to the ...
(1) Rectangular area bounded on all sides by consecutive streets. It is part of a platted area. (2) Substantial amount of real estate properties to be sold together. (3) Group of houses, ...
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