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
Large scale map of an urban area detailing land use. City plans are essential for projecting the growth, development, and redevelopment of the urban area. The major objective of a city plan ...
Typically, the term rider defines a financial concept, implying a written modification applied to an insurance policy, altering its initial clauses and provisions. The rider can update the ...
Portion of a deed that states the act and date of the transfer of the property. ...
Legal order for a person to present at a deposition or trial documents in his possession, such as related to a real estate transaction. ...
Written agreement, guarantee, pledge, or promise annexed to the land between two or more parties to do or not to do something and is transferred to successive title holders. For example, in ...
Power of attorney giving permission for a lawyer to represent a client. ...
Possession and use of a property estate by virtue of a lease. There are four types of leasehold estates: estate for years, periodic tenancy, tenancy at will, and tenant at sufferance. ...
(1) Retaining wall constructed along water with solid earth behind it. It extends the effective shoreline and protects the land from tidal action. (2) That portion of a wall located beneath ...
Individual or business transferring a right or benefit to another person or business. ...
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