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Estate Guide Investment Real
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Estate Guide Investment Real
Real Estate Terms of the Day for Estate Guide Investment Real
DEFAULT Failure to meet legal obligations in a contract, including failure to make payments on a loan.
DOMICILE The state where an individual has his true, fixed, permanent home and principal business establishment and to which place he has the intention of returning whenever he is absent.
INITIAL RATE The rate charged during the first interval of an ARM loan.
DEDICATION The application of privately owned land to the public for no consideration, with the intent that the land will be accepted and used for public purposes.
JURISDICTION The authority or power to act, such as the authority of a court to hear and render a decision that binds both parties.
INITIAL RATE The rate charged during the first interval of an ARM loan.
SURVIVORSHIP The right of survivorship is that special feature of a joint tenancy whereby all title, right and interest of a decedent joint tenant in certain property passes to the surviving joint tenants by operation of law, free from claims of heirs and creditors of the decedent.
LAW DAY The date an obligation becomes due; sometimes refers to the closing date.
BOOT Money or other property given to make up any difference in value or equity between two exchanged properties.
LIEN A charge or claim which one person (lienor) has upon the property of another (lienee) as security for a debt or obligation. Liens can be created by agreement of the parties(mortgage) or by operation of law (tax liens).
PRO FORMA STATEMENT A projection of future income and expenses.
LIMITED COMMON ELEMENTS That special class of common elements in a condominium reserved for the use of a certain apartment(s) to the exclusion of other apartments.
VALUE The power of a good or service to command other goods in exchange for the present worth of future rights to income or amenities; the present worth to typical users and investors of future benefits arising out of ownership of a property.
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