Vacation Home
Definition of "Vacation home"
Second home. The interest and real estate taxes on the second home are tax deductible on the family's 1040 tax return.
Popular Real Estate Terms
protective wall along a roof or below a terrace. ...
Buyer agrees to accept the responsibility for the existing mortgage. The seller is not relieved of the obligation unless the lender agrees to release it. Many lenders charge points and ...
Claim of a person or business to real property such as by exercising an option. ...
Substituting one party for another in an action giving that party full rights or claims. Foe example, an insurance company pays the insured for a fire loss caused to the home by a third ...
Rooflike cover that extends over any place to provide shelter from the sun, rain, or wind. ...
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Decline in value of property from use. The property's condition is aging. An example is plumbing deteriorating over time. ...
An accessory building is an outdoor structure used by the occupants of the main building or house. They have different functions and can be detached or attached to the main building on the ...
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