Relationship between individuals or entities out of which exists a mutual interest. An example is a privity of contract among the contracting parties concerning the actions each are to take.
Popular Real Estate Terms
An Act, passed by congress in order to prevent the practice of redlining and disinvestments in central city areas. Redlining is a practice in which lenders refuse to make loans in certain ...
Costs taken over an above what one is entitled to. This can occur either by claiming depreciation costs exceeding actual depreciable value or by depreciating items that cannot be ...
The process of upgrading unusable land through making physical improvements. For example, swamp land can be drained and filled in order to make it usable. Barren land can be reforested by ...
When you hear someone mentioning aesthetic value in connection with real estate, that person is using aesthetic value as a way to point price appreciation added to the property because of ...
Pipes from a structure to a sewer for the purpose of sewage disposal. ...
The definition of Fair Market Value in the real estate business is the highest amount that could be received on the sale of a property when there are a willing buyer and a willing seller. ...
Large heavy piece of wood or other material generally running horizontally through a building providing support for other parts of the structure. The stringer usually runs in the direction ...
Provision in a mortgage permitting the owner of property to transfer the mortgage to a buyer. ...
Same as term plat book: Listing of all of the plats of subdivided plots in a jurisdiction showing the location, boundaries, and plat owners. A plat book normally shows other improvements ...
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