Participation Mortgages
- Involves more than one borrower being responsible for a mortgage, such as with a cooperative apartment.
- Involves more than one mortgagee lent on a real estate project, such as with a large commercial project.
- Agreement between a mortgagee and a mortgagor that provides for the lender having a certain percentage ownership in the project once the lender makes the loan.
Popular Real Estate Terms
Judicially determined minimum selling price for auctioned property. For example, a judge rules that a foreclosed home may be sold for less than $200,000, ...
All expenses related to maintaining and operating a household. These expenses include the cost of rent or mortgage payments, taxes, utilities, maintenance and structural improvements. The ...
There’s no mystery. The actual age of a property is the chronological age of a property. Say a house was built two decades ago. That house’s actual age is 20 years old.The ...
Arrangement the insured and insurer share on a proportional payment for a loss. ...
Amount awarded by a government when a person's property is condemned and he must move. ...
In appraisal jargon, property currently being appraised. ...
Legal proceeding to exercise a right in a disagreement between private individuals or businesses. One party seeks a remedy against the other. It does not involve a criminal situation. ...
Dry ravine formed by water runoff. ...
In an electrical system, the connection box where all the circuit systems are installed with a series of electrical breakers. The major distribution or collection duct in an ...
Have a question or comment?
We're here to help.