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
One of series of parallel beams directly supporting a floor or a roof. Joists can be made out of wood, steel or steel reinforced concrete. Joists are in turn supported by other beams or ...
Rental income received from property that exceeds the costs of owning and maintaining the property. ...
Conversion of real property into money. The breaking up and selling of a real estate company for cash distribution to its creditors and then owners. Chapter 7 of the Federal Bankruptcy ...
Secondary written agreement to purchase real property in the event the initial contract is not signed. ...
Usual operating service life of property for the purpose it was acquired. The useful life used for depreciation accounting does not necessarily coincide with the actual physical life or any ...
Restraining a person or business from denying an appropriate conveyance of property evidenced by a deed has given. ...
(1) The interest rate used to convert future receipts or payments in connection with real estate property to their present value. The cost of capital is used as the discount rate under the ...
A rule that the price of a house should not exceed about 2 to 2.5 times your family's gross annual earnings. Example : If annual gross income is $70,000, the highest price one could afford ...
Formal written examination given in every state to those people being the age of majority and qualifying to be a real estate salesperson or broker. The examination can consist of multiple ...
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