Section 1034
Definition of "Section 1034"
Provision in the Internal Revenue Code applicable to the sale of an individual's house. The gain or loss is deferred by adjusting the cost basis of a new house bought within two years of the date of sale of the old house. The replacement cost for the new house must be equal to or greater than the net selling price of the old house. the net selling price equals the gross selling price less expenses associated with the sale such as brokerage fees." section 1221
Popular Real Estate Terms
Listing Agreement A.K.A. Listing is basically a contract allowing a real estate agent or broker to list a home for sale and act as the home seller agent representing his/her interests ...
A cost of funds index that most adjustable rate mortgages written in California in recent years are tied to. Computed by the Federal Home Loan Bank of San Francisco, it reflects the cost ...
Type of investment company that invests money in mortgages and various types of investment in real estate, in order to earn profits for shareholders. Shareholders receive income from the ...
Same as term marginal land: Land that has poor income potential, usually used in an agricultural sense meaning that the land is untellable, has poor access, is extremely steep, has suffered ...
Short-term leases are leases that run its completion in a faster time than regular ones.In real estate, short term-leases usually refer to temporary housing; that is: rent.The length of a ...
Also know as Fannie Mae, the FNMA accept bids from approved lenders as to the amount, price and terms wish to sell Fannie Mae. Upon deciding how much money it will spend during a given time ...
A cooperating broker or agent defines a real estate broker who helps another broker in a private property transaction. Typically, the cooperating broker represents the seller and is ...
Return before taxes on the capital invested in real estate property. ...
Real property usable in a trade or business. Such as, the property on a which retail store, hotel, or office building are located. ...
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