- Trying to resolve a problem between two individuals up with some compromise or common ground. It occurs more often during times of poor economic conditions. An example is a creditor offering an accommodation to a borrower to avoid a bankruptcy situation.
- A debt which is in default but which the creditor allows the debtor to rectify by lengthening the time period of the loan, reducing the interest rate, or some other accommodation. An example is a bank that elects not to foreclosure on a mortgage because of the homeowner's nonpayment, but agrees to stretch out the payments.
Popular Real Estate Terms
Payment of the minimum tax by using legal tax planning opportunities such as estate planning. The use of tax avoidance strategies is a sound approach to retaining cash flow. On the other ...
A Construction method of using twice the number of framing members to provide additional structural strength. ...
A void property is a real estate property that is immediately available for new owners or renters as it is vacated. Void real estate properties can be occupied at a short notice as no ...
Right to property depends on some occurrence. ...
(1) Paved roadway constructed above lowlands such as a swamp. (2) Roadway in ancient Egypt connecting the valley temple with a pyramid. ...
Violating a law, commitment, duty, or obligation through commission or omission. The responsibilities of an agreement or guarantee are not met. ...
Roof with one side that is at a sloped angle. ...
Some real estate sales require court confirmation of purchase to protect heirs and debtors from financial wrongs. These sellers have to sell their property due to unique circumstances. They ...
Houses attached by either side of the same wall. ...

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