Qualifying
Definition of "Qualifying"
- Process determining an individual's financial ability to meet the terms of a loan. When selling real estate, the sales broker must qualify the buyer to make certain he/ she has the financial ability to purchase the property and be eligible to obtain a mortgage.
- In insurance, a period of time during which an individual is eligible to receive benefits until it is determined whether or not fraud or other misrepresentation has occurred. A qualification period is found most frequently in health insurance and pension plans.
Popular Real Estate Terms
Ratification is typically required when an individual makes a decision. Still, they don’t have the legal authority to make it legally enforceable. In everyday discourse, ratification ...
The quality of life enjoyed by a person depending on factors such as spendable income, housing conditions, health and education. ...
Use of borrowed funds to enhance expected returns. It is anticipated that the investment will earn a return exceeding the after-tax cost of borrowing. ...
In regards to , in the matter of. Formal judicial method of entitling a matter before it. ...
Financial standing of a debtor as a basis to pay obligations. ...
Regular rental of property between the lessee and lessor for a fee. An operating lease does not satisfy the criteria for a capital lease. An example is renting an apartment. A lessee ...
Property held by an individual, such as furniture. ...
The term foraging comes from the old germanic language, which passed through Old French “fuerre” and “fourrage” and it means the search for wild food resources. ...
Self-employed contractor who may perform work on a structure such as residential or commercial property. ...
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