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
An income feature added to a mortgage whereby the mortgagee earns income in addition to the mortgage interest and principal payments. Also called an equity kicker, a kicker allows the ...
The accelerated cost recovery system is a depreciation system for tax purposes mandated by the Economic Recovery Tax Act of 1981. In 1986 the Accelerated Cost Recovery System (ACRS) was ...
The handling of an account, as a mortgage serviced by a mortgage banker. The periodic, routine maintenance of household items. ...
Space that is available to all tenants or owners, such as a courtyard, main entrance, elevator, and pool. ...
Horizontally placed timber that is connected to other timber. Smooth, flat, thin piece of metal. Electrical covering. ...
The term land use succession definition can be looked at from two perspectives. While the general way to define land use succession would be “changes that occur over time in the use ...
When an owner of real estate dies interstate, having no enforceable will, the property descends, by operation of law, to the owner's inheritors. ...
Writ issued by the court requiring a person to appear as a witness or to provide written information in the case. A contempt of court citation may occur for failure to observe the subpoena. ...
Net return on a real estate investment. It equals the income less the expenses associated with the property. ...
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