Urban Renewal
Definition of "Urban renewal"
Older property is bought usually by a governmental agency to be modernized and improved. In many cases, the deteriorating property is torn down and a new structure built. An example is public housing designed to redevelop a slum neighborhood. Some private foundations may also engage in community development. Urban renewal projects are often directed at a particular depressed area in the city. development might also include sports arenas and parks to make the area more attractive.
Popular Real Estate Terms
Insurance coverage provided for an individual having a lease at a favorable rate, one which is less than the market value of the property. The insurance indemnifies the tenant for business ...
Window normally mounted on hinges in a window casing. It swings outward to open. ...
Correcting depreciation by making improvements at less cost than the value added. For example, the management of an aging strip shopping center makes a decision to refurbish the windows and ...
(1) Bottom of something used as support. (2) Most essential element. (3) Type of interest rate used when computing compound interest equal to: (1 + I). (4) Justification of an argument or ...
Some states make the legal assumption, based on title theory, that the mortgagee is a partial owner of the real estate securing the mortgage and remains as is until the debt is fully paid. ...
Provision at the end of a document, such as a will, wherein the witnesses sign that the instrument has been executed before them. This may be useful involving transfers of real estate. ...
Something that is inferred, but not explicitly stated. The inference may be deducted from the relevant information. ...
Factors affecting the useability and value of property. Important land features would include whether the land was flat or hilly, cleared or uncleared, high or low elevation, dry or swampy, ...
Expecting or looking forward to something happening. ...
Have a question or comment?
We're here to help.