Recovery Period
Definition of "Recovery period"
Period of time during which a complainant in a real estate transaction can seek a financial recovery from a licensed real estate broker or agent. The time period is determined by state statute.
Popular Real Estate Terms
Urbanized area in and around a major city. The metropolitan area may overlap county and state boundaries and may encompass a city, its suburbs, and the orbit of its social and economic ...
Property that is zoned for industrial use, including manufacturing, research and development purposes, factory office and warehouse space, and industrial parks. ...
Provision in a mortgage that requires the final payment to be substantially more than all other payments. ...
Foreclosure sale enable in those states permitting the use of a power of sale clause to be inserted into a mortgage or deed of trust empowering the mortgagee to advertise and sell a ...
Gets rid of unwanted substances and materials from a residence or office building. Waste includes solids and liquids, hazardous and nonhazardous materials. ...
Window(s) situated on top of a structure to furnish air and light for the inside. ...
Right to select something or perform some act. An example is a renter of property that is given the option to buy the home at the end of the rental period or to renew the lease. Not ...
Portion of a deed that states the act and date of the transfer of the property. ...
Null or void something; Revoke or destroy; rescind or set aside; abandon; abolish; repeal; surrender; waive; terminate. In real estate, to void a buy or sell order, price, or quantity. The ...
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