Definition of "Taking"
Act of obtaining land through condemnation. For example, when in interstate highway must be constructed, the land for the new road is obtained through takings. Usually, the government will exercise its right to "take" only after it is determined that the owners of the acquired property is unwilling to settle for a reasonable price.
Popular Real Estate Terms
Economic resource that is anticipated to provide benefits to a business. ...
Structure of prefabricated units. ...
An attorney's opinion of the status of a title, which is attached to the abstract of title. ...
Mortgagor's signed statement that the stated remaining balance of a mortgage is correct and it is a property lien. This prevents a mortgagor from later stating the facts were ...
Typically, a general contractor or GC in the real estate industry defines a person who signs a contract with a property owner or developer. Thus, they assume full responsibility for ...
Expected selling price of property less costs to sell. It is the net amount received upon the sale of property. gross receivables less allowance for doubtful accounts, representing the ...
Divides a locality into districts for differing purposes. The map is continually kept current. It reveals the status of each district. ...
The meaning of undue influence revolves around a control one individual can exert upon another to persuade them to do something that won’t be beneficial for the influenced party. ...
Effective Age is the counterpart to a property’s Actual Age. While the former refers to the date a property was built, the latter is more of a sensorial depiction of its age; the age ...
Have a question or comment?
We're here to help.