Probate Court
Definition of "Probate court"
Court having the responsibility of performing probate of wills and administering estates. In certain states, a probate court can appoint guardians for minor children of an estate.
Popular Real Estate Terms
Immediate convertibility of assets into cash without loss. Many types of real property are illiquid. ...
Individual paying a rental fee to the lessor for the right to use real property. The two methods used to account for leases by the lessee are the capital lease and the operating lease. ...
Risk involved when a potential buyer or seller of property decides not to buy or sell. For example, if a seller does not sell at the offered price, he runs the risk of not being able to ...
Mock closing; all information is available prior to an actual closing in order to insure all documents are properly executed by the appropriate parties. A preclosing is normally used only ...
File of prospective real estate customers showing their address, telephone number, time and date of last contact, types of properties in which they are interested, and their financial ...
The total expenditures required to make a locality suitable for the designated purpose. An example is how much it would cost to build a shopping center on a lot. ...
Reducing real estate investment risk by acquiring diversified holdings. ...
Governmental body that reviews property tax assessment procedures. ...
An unpreventable, overwhelming, and irresistible force. It is common to place a force majeure clause in a construction contract to indemnify a construction deadline in the event an act of ...
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