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
Act occurring after the fact. ...
percentage relationship of a specific part of property to the whole property. An example is the square footage of one office to the square footage of all offices in an office building. ...
property having an easement right through another adjoining property. The property through which the easement passes is considered to have the servient tenement. ...
Tax-free status given to certain nonprofit organizations and governmental entities. Churches, charities, and government buildings do not pay property tax because of their tax-free status. ...
The term acknowledgement refers to an act, deed, declaration, or an expression of appreciation, but it also refers to accepting or recognizing something. The definition of acknowledgement, ...
Also called a like-kind exchange. An exchange in which tax benefits are available to real estate owners planning to sell their investment, rental, business or vacation real estate, and ...
If action is undertaken in conformity with contractual provisions, legal responsibilities arise. The concept is that the person taking action must beware. ...
English-style home. It is usually 2-stories high. The roof is of a hip type. The chimney is on the side of the home. ...
An agreement occurring from actions of those impacted, but not communicated in writing or orally. For example, it is presumed that a real estate agent will perform his or her obligations ...
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