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GENERAL AGENT One who is authorized to perform any and all acts associated with the continued operation of a particular job or a certain business. PROPERTY MANAGEMENT That aspect of real estate devoted to the leasing, managing, marketing and overall maintenance of the property of others. TAX SHELTER A phrase often used to describe some of the tax advantages of real estate investment, such as deductions for depreciation, interest, taxes, etc., which may offset the investor's other ordinary income to reduce the investor's overall tax payment. TRANSFER TAX Tax paid when title passes from one owner to another. AMORTIZATION Repayment of a loan with periodic payments of both principal and interest calculated to payoff the loan at the end of a fixed period of time. |
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