Section I And II (homeowner's Policy)
Sections of a homeowner policy. Section I relates to the home, contents, and accompanying structures. Section II provides comprehensive coverage for personal liability and the medical payments and property damage incurred by those other than the insured.
Popular Real Estate Terms
Buyer who is acting in good faith, is not aware of any outstanding claims or rights of others to the property, and has given valuable consideration as part of the business transaction. ...
When we’re talking about debt service, we refer to the amount of cash required to cover the debt’s repayment of both the interest and the principal for a certain period of time. ...
Building recognized because of its history, such as the Booth theater in Washington, Dc. The demolition of historical buildings is not permitted. Historical building modifications are ...
The closing process is the final step of a property sale. It starts when the home seller agrees to the home buyer’s offer and it ends after all Closing costs are paid ...
Municipal ordinance stating the distance from a curb or property line where the building of a structure is prohibited. Also states the distances from a boundary line where construction is ...
Same as term yield: The income earned on an investment, typically stated as a percentage of the market price ...
An accounting methodology for separately depreciating individual parts or elements of a building or improvement qualifying as business use or a depreciable asset under the IRS tax code. ...
The meaning of topography defines the science of mapping a specific region’s physical features. In short, the topography describes an area’s characteristics, such as its ...
Early American frontier-style house constructed of logs. Since finished lumber was not readily available during the early frontier period of American history, homes were often fashioned out ...
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