Tenant Changes
Changes made by a lessee to property during the term of the lease. In general, if the changes are permanent such as the addition of a building to lease land, the ownership of the building reverts to the lessor at the end of the lease. On the other hand, the lease contract may specify that all tenant fixtures, that is fixtures added to the property by the lessee may be removed when the lease terminates. The lessee, therefore, may remove a machine, for example, that was attached to a leased factory building when the lease term terminates.
Popular Real Estate Terms
Meaning or definition given to an act, fact. Or thing through legal or juridical interpretation. ...
Ask Price is the initial listed price for a piece of real estate.It’s important to understand that, in the real estate world, there’s no such thing as a fixed price when buying ...
the loan rate stated on the face of the loan note. The nominal loan rate is not the same as the effective interest rate. For example, if points are charged to secure a loan, the effective ...
Within Real Estate, “nuisance” is a term used to describe any disturbance that might affect neighboring houses. Nuisance abatement is the enforcing of policies and codes that ...
Request of a local government's planning body to alter the zoning requirements based on a justifiable reason. ...
The Women’s Council of REALTORS® is one of the affiliate organizations of the National Association of REALTORS® (NAR). This nonprofit organization is a network of successful ...
An administrator appointed by the government or the courts to administer the laws relating to a government agency or court. A commissioner is a part of a government or court commission. ...
The Loan-to-value ratio (LTV) is a calculation that measures how much you need to pay for a mortgage (loan) concerning how much the asset is worth. The loan-to-value ratio in real ...
Home prominent in Williamsburg and typical of those in Georgia in the 1700s. The homes usually were 2 to 3 stories, in rectangular form, with double hung windows, two high chimneys, and ...
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