Principal
- person designating an agent to act for him.
- Primary individual having full financial liability.
- Amount being risked in a real estate investment.
- Owner of a real estate business.
Popular Real Estate Terms
Process by which a lessee leases the property to another lessee. ...
The legal right of a widow to a portion of her deceased husbands real property. ...
A binding arbitration is a way to solve disputes without going to court. An alternative to the more expensive and lengthy legal procedures, a binding arbitration is basically the process ...
Obligation taken on by a person who did not obtain it originally, but agrees to honor the terms of the existing obligation as a condition for the transaction. By assuming the loan rather ...
A purchase of real property made on account. Loan extended to business or individuals to buy real estate. In taxation, a dollar-for-dollar reduction in taxes. An example of a tax ...
Legal lien on property on behalf of an individual who has not been paid for material furnished in constructing property. The material enhanced the value of the property, and as such the ...
Law involving noncriminal issues such as breach of contract, libel, slander, and accidents. ...
Federal program in which the U.S. government subsidizes much of the rent paid by low-income people. It applies to rentals of privately owned apartments. ...
Clause in an open-ended mortgage permitting the mortgagor to borrow additional sums of money in the future pledging than same real property collateral. A construction loan has a future ...
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