Tax Evasion
Not paying taxes legally due the government. Examples are the failure to report rental income received and claiming false deductions on real estate holdings. The penalty for tax fraud is 75% of the underpaid tax. There may also be criminal prosecution.
Popular Real Estate Terms
Unsecured long-term debt. There is no collateral or lien on the property. A debenture can only be issued by a financially sound borrower with an excellent credit rating because no ...
Surveying the land to determine its suitability for a specific purpose, such as building a high-rise apartment house. ...
Interest computations based only on the original principal. For example, the simple interest on a $100,000, 8% loan is $8,000. It is compared with compound interest which is applied to the ...
List of business property. ...
Wondering what “de facto” means? Well, because it’s a Latin word, let’s give a formal definition. De facto is Latin for indeed, in fact, in reality, actually. An ...
Court or government regulatory order to stop doing something, such as not showing minorities certain neighborhoods. ...
Literature, samples, equipment, tools, and other useful information that real estate brokers or agents can use for demonstration purposes to prospective buyers. ...
The selling of a parcel of land whereby the original owner agrees to immediately leaseback the property. The advantage of the land sale-leaseback in that the original property owner can ...
Before getting a loan to buy a property, you must know the definition of foreclosure. A foreclosure is the process of making a loan due immediately. Technically, a loan becomes due way ...
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