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Orlando Real Estate Investment Book
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Orlando Real Estate Investment Book
Real Estate Terms of the Day for Orlando Real Estate Investment Book
CAPS (INTEREST)
Consumer safeguards which limit the amount the interest rate on an adjustable rate mortgage can change in an adjustment interval and/or over the life of the loan. For example, if your per-period cap is 1% and your current rate is 7%, then your newly adjusted rate must fall between 6% and 8% regardless of actual changes in the index.
LANDSCAPING
Shrubs, bushes, trees and the like, on the grounds surrounding a structure.
MILITARY CLAUSE
A clause inserted in some residential leases to allow the military tenant to terminate the lease in case of transfer, discharge or other circumstances making termination appropriate.
LANDSCAPING
Shrubs, bushes, trees and the like, on the grounds surrounding a structure.
SUBORDINATION AGREEMENT
An agreement whereby a prior mortgagee agrees to subordinate or give up their priority position to an existing or anticipated future lien.
ECOA
See Equal Credit Opportunity Act.
FLOOR DUTY
A frequent practice in real estate brokerage offices of assigning one sales agent the responsibility for handling all telephone calls and office visitors for a specified period of time.
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.
LEVERAGE
The use of borrowed funds to purchase investment property with the anticipation that the property acquired will increase in return so that the investor will realize a profit not only on his own investment, but also on the borrowed funds; the employment of a smaller investment to generate a larger rate of return through borrowing.
BUNDLE OF RIGHTS
An ownership concept describing all those legal rights which attach to the ownership of real property, including the right to sell, lease, encumber, use, enjoy, exclude, will, etc.
CONSTRUCTIVE EVICTION
Acts done by a landlord which so materially disturb or impair the tenant's enjoyment of the leased premises that a tenant is effectively forced to move out and terminate the lease without liability for any further rent.
CAPITAL GAIN
The taxable profit derived from the sale of a capital asset.
PRO FORMA STATEMENT
A projection of future income and expenses.
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