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
federal tax on gifts made and estate proceeds. ...
Statement made verbally. It is better legally to have a written statement because verbal ones without witnesses may be denied. ...
Insects that destroy the support wood in the structure of a building. Termite inspection should be periodically performed to detect their existence. If an infestation is confirmed, the ...
Legal contract in which the lender controls the pledged property being financed. The agreement describes the property and its location. Of default occurs, the lender may sell the ...
Method of finishing edges of walls, window jams, doors, or projections with decorative strips of wood to give a better appearance as well as providing protection from jagged edges and ...
Need to understand what is a real estate contingency? In general, a contingency is a condition for something to happen, so the real estate contingency definition relates to provisions ...
Also called profit and loss statement. A financial statement depicting a business entity's operating performance and reports the components of net income, including sales of real estate, ...
A gift by will of real property. Absolute legasy: An unconditional and immediate gift. Conditional legasy: The bequest of a gift depends on the occurrence of something happening. For ...
One who represents a zone such an elected leader of a region. He or she have dealings with the county's officials in matters affecting that zone. ...
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