Definition of "Trust"
An agreement in which the trustee takes title of the property ( called corpus) owned by the grantor (donor) to protect or conserve it for either the grantor or the trust's beneficiary. The trust is set up by the grantor. The trustee is typically given authority to invest the property for a return. Trusts may be revocable or irrevocable.
Popular Real Estate Terms
Document issued by a governmental agency permitting the recipient to do something. An example is a building permit to construct a structure. ...
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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. ...
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Total expenditure to modernize a building to meet the owner's or tenant's needs. ...
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