Definition and explanation of 'Allodial', a term referring to property ownership free from feudal restrictions and limitations on alienation.
An in-depth overview of the Allodial System, a legal framework for full property ownership rights, notably used as the basis for property rights in the United States.
ALT-A Mortgages are residential property-backed loans made to borrowers with better credit scores than subprime borrowers but provide less documentation than normally required for a loan application. Explore their implications, types, and comparison to other mortgage types.
A comprehensive look into Alternative Mortgage Instruments (AMIs), their types, benefits, drawbacks, and comparison with traditional fixed-interest-rate, level-payment amortizing loans.
A detailed exploration of amenities in real estate appraisal, including the nonmonetary benefits derived from property ownership such as pride of home ownership.
An anchor tenant is the primary, often major, tenant in a shopping center or office building, playing a crucial role in attracting other tenants and securing financing.
An in-depth explanation of the Annual Mortgage Constant, its formula, applications, and significance in finance and real estate.
An in-depth overview of apartments, their characteristics, types, historical context, and practical considerations.
An apartment building is a residential structure with multiple apartment units, sharing a common entrance and hallway, and sometimes featuring additional commercial spaces. Understand its definition, depreciation rules, and applications.
A detailed overview of apportionment, from property expenses allocation to federal and state tax considerations, including examples and special considerations.
A comprehensive insight into the professional opinion or estimate of the value of a property.
The Appraisal Foundation established in 1989 develops uniform requirements for appraisal qualifications and reporting standards, including the Uniform Standards of Professional Appraisal Practice (USPAP).
The Appraisal Institute is a global organization comprised of real estate appraisers that offers prestigious designations such as MAI, SRA, and SRPA to its members. It is dedicated to advancing professionalism, ethics, methodologies, and practices among real estate appraisal professionals.
An Appraisal Report outlines the findings of an appraisal engagement, with formats including restricted, summary, and self-contained reports, as dictated by the Uniform Standards of Professional Appraisal Practice (USPAP).
Detailed exploration of Appraisal Review, including processes, standards, and methodologies involved in the appraisal review performed by one appraiser on another appraiser's report.
An in-depth exploration of the concept of appraising, focusing on the estimation of property value, including methods, considerations, historical context, and related terms.
A comprehensive guide to understanding the role of an appraiser, their qualifications, importance in various fields, and leading professional organizations.
Appreciated property refers to assets that have a fair market value greater than their original cost, adjusted tax basis, or book value. This entry covers types, considerations, examples, historical context, applicability, comparisons, related terms, FAQs, and references.
In property law, the term 'appurtenant' refers to the attachment of a restriction, such as an easement or covenant, to a piece of land, which benefits or restricts the owner of such land in his use and enjoyment.
Comprehensive understanding of 'Area' in terms of two-dimensional space and its application in various fields, such as real estate and professional expertise.
The term 'AS IS' denotes an agreement where the buyer accepts the delivery of goods in the condition they are found during inspection prior to purchase, even if they are damaged or defective, except for latent defects.
Asbestos is an insulation material commonly used in older buildings, known for its hazardous nature when it becomes friable and airborne.
The selling price a property owner sets for the property. Also referred to as asking price. See related terms such as Asking Price and Bid and Asked.
Assemblage: The real estate process of combining two or more adjoining parcels of land into a unified larger tract, typically increasing its overall value.
Comprehensive overview of the term 'assess', its definitions, types, examples, historical context, applicability, comparisons, related terms, FAQs, references, and summary.
An in-depth look at assessed valuation, its calculation, application, and significance in property taxation.
Understanding the Assessment Ratio: Its Definition, Calculation, and Implications in Property Taxation
An Assessor is an official responsible for determining property values, generally for real estate taxes. This role is crucial in ensuring that property taxes are equitably distributed based on the value of the property.
An in-depth exploration of the term 'Assignee,' detailing its definition, legal implications, types, and relevance in various contexts such as contracts, real estate, and finance.
Detailed explanation of the legal process of assignment, its applications, and implications.
An assignor is the party who assigns or transfers an agreement or contract to another party. This legal concept is integral in fields such as contract law, real estate, and business transactions.
An assumable loan is a mortgage that allows a new home purchaser to undertake the obligations of the existing loan without changing the loan terms. Commonly, FHA and VA mortgages are assumable if they lack due-on-sale clauses.
Assumption Fee: A charge levied by a lender to a buyer who assumes the existing loan on the subject property.
The Assumption of Mortgage involves a buyer taking over the seller's mortgage, becoming personally liable for the debt. This is typically part of a real estate transaction and distinguishes itself by making the purchaser directly responsible to the lender, unlike a 'subject to' mortgage.
Attornment is the tenant's formal agreement to acknowledge a new landlord.
An in-depth look at the concept of Attractive Nuisance, its implications in property law, and the steps property owners must take to mitigate liability risks.
A detailed exploration of auctions, a method for selling property without a set price, including types, legal requirements, historical context, and more.
An in-depth study of avulsion, which refers to the sudden removal of land from one parcel to another when a body of water, such as a river, abruptly changes its channel.
An exploration of 'Bad Title,' a term used in real estate to describe a claim to property that is legally insufficient to convey full ownership rights to the purchaser.
A comprehensive guide to understanding balloon payments, including types, examples, historical context, and related financial terms.
A Bargain and Sale Deed is a type of real estate contract that conveys property and transfers title to the buyer without any guarantee from the seller regarding the validity of the title.
Understanding Base Rent: The minimum rent due under a lease that may include percentage or participation requirements.
A residential community in the suburbs, often near an employment center, but itself providing few employment opportunities.
An exploration of the Before-and-After Rule in Eminent Domain, including its practices, types, examples, historical context, and frequently asked questions.
A detailed overview of a binder, its use in contracts, particularly in insurance and home purchase scenarios, as a temporary written memorandum giving protection during further investigation or preparation of formal documents.
A comprehensive explanation of biweekly loans, a type of mortgage that requires principal and interest payments at two-week intervals, accelerating the loan amortization process.
A detailed exploration of blanket mortgages, covering their definition, types, uses, special considerations, examples, historical context, and comparison with other mortgage types.
Understanding the practice of 'Bleeding a Project' in new construction and real estate management, including implications, examples, and historical context.
A comprehensive overview of Blighted Areas in cities, focusing on causes, characteristics, and urban renewal efforts.
An overview of Blockbusting, a racially discriminatory and illegal real estate practice involving coercion and scare tactics to manipulate property values.
An in-depth overview of the board foot, a unit of measurement used in the lumber industry, defined as one foot wide, one foot long, and one inch thick, or 144 cubic inches.
A Board of REALTORS® is a local association of real estate licensees who are members of the state and national associations of REALTORS®. It aims to advance the integrity, professionalism, and standards of the real estate practice.
An in-depth look at boundaries and property lines, including definitions, legal implications, and related terms.
A bridge loan is a short-term loan, also referred to as a swing loan, which is utilized to meet immediate financial needs in anticipation of intermediate-term or long-term financing.
A comprehensive overview of brokers, their roles, types, and relevance in various industries including finance, real estate, and more.
An explanation of a Broker's Opinion of Value (BOV), its purpose, differences from appraisals, and its use in real estate transactions.
A comprehensive overview of brokerage covering the business activity of being a broker, types of brokerage, commissions, and more.
An in-depth exploration of brokerage allowance, a commission paid by the seller to the broker for arranging a sale, typically defined as a percentage of the selling price. This term often applies to transactions where the broker does not take possession of the goods sold.
A comprehensive exploration of brownfield sites, their previous uses, and the efforts to redevelop them.
Explore what a Budget Mortgage is, its components, advantages, and how it differs from other types of mortgages. Learn about the practical implications, historical context, and related financial terminology.
Build to Suit is a commercial real estate arrangement where a landowner constructs a building as specified by a potential tenant, then leases both the land and building to the tenant.
The Builder Standard represents the lowest level of functional performance for various construction features and appliances in new or remodeled houses, ensuring basic quality.
A comprehensive overview of building lines, which are lines fixed at a certain distance from the front and/or sides of a lot, beyond which the building may not project.
A detailed guide to understanding Building Loan Agreements, also known as Construction Loans, including types, stages, examples, and applicability.
A comprehensive guide to understanding building permits, their significance, process, and impact on housing starts.
Understanding the concept of buying down an interest rate, its mechanisms, applications, and implications in mortgage and loan agreements.
A Buy-Back Agreement is a contract provision where the seller agrees to repurchase the property at a stated price upon the occurrence of a specified event within a certain period of time. This provision can offer reassurance to buyers, particularly in dynamic markets or situations involving potential relocations.
A comprehensive overview of the role of a buyer's broker in real estate, including responsibilities, benefits, and the contractual aspects of their service.
Understanding a Buyer's Market: Definition, Implications, and Examples in Real Estate
Comprehensive explanation on 'Cadastre' which is a record maintained by authorities that lists the appraised property values in a jurisdiction used to determine the amount of tax assessed on each parcel.
A comprehensive overview of Capitalization Rate (CAP RATE), its calculation, applicability in real estate, and related concepts.
Capital improvement refers to a betterment to a building or equipment that extends its life or increases its usefulness or productivity. The cost of a capital improvement is added to the basis of the asset improved and then depreciated.
Understanding the Capitalization Rate in Real Estate and Investments
A comprehensive guide to the limitations and regulations placed on interest rate and payment adjustments in Adjustable-Rate Mortgages (ARMs), including annual adjustment caps, life-of-loan caps, and payment caps.
A comprehensive guide to the concept of 'Carve Out' in financial and real estate contexts, including explanations, examples, historical context, comparisons, and FAQs.
A comprehensive overview of the Case Shiller/S&P Home Price Index, including its methodology, importance, and historical context.
A comprehensive explanation of a cash buyer, including methods of payment, examples, and comparison with other types of buyers such as credit order buyers.
Cash equivalence represents the market value of an item if it were sold for cash. In real estate, it can differ from the stated selling price, considering discounts or interest rates on notes.
A detailed examination of the Cash-on-Cash Return method, which calculates yield by dividing annual dollar income by the total dollar invested. This entry also explores related measures such as Internal Rate of Return and Yield to Maturity.
An Overview of Caveat as a Warning or Caution in Various Contexts including Legal, Real Estate, and Consumer Transactions
Caveat Emptor (Latin for 'Let the buyer beware') is a rule of law that the purchaser buys at their own risk. Recently, this doctrine has eroded to require disclosure by the seller of known defects in the product.
A comprehensive overview of Central Business Districts (CBDs), detailing their composition, functions, and significance in urban planning and economic dynamics.
A Certificate of Occupancy is a document issued by a local government agency signifying that a building or dwelling conforms to local building code regulations. It is required for initial occupancy or transfer of title.
Learn about the Certificate of Reasonable Value (CRV), a document issued by the Veterans Administration based on an approved appraisal, establishing the maximum VA mortgage loan principal.
A Certificate of Title is a legal document that indicates ownership of property, commonly associated with motor vehicles.
A detailed explanation of Certified General Appraiser, its roles, responsibilities, and standards under state certification laws.
"Certified Historic Structure" denotes a building officially recognized for its historical significance and eligible for preservation incentives.
A Certified Residential Appraiser is qualified to appraise residences and housing units up to four units, under appraiser certification law. The certification involves specific educational, experiential, and examination requirements.
An extensive exploration of the chronological history of all conveyances and encumbrances affecting a land title.
Detailed exploration of Chattel, its types, legal implications, examples, and historical context.
A chattel mortgage is a loan agreement in which personal property is used as collateral to secure a loan. Although it has largely been replaced by security agreements under the Uniform Commercial Code (UCC), it remains an important concept in finance and law.
A comprehensive definition and exploration of a Clear Title, free from any encumbrance, obstruction, burden, or limitation that presents a doubtful or even a reasonable question of law or fact as to its validity.
A closed-end mortgage is a mortgage-bond issue accompanied by an indenture that prohibits repayment before maturity and the repledging of the same collateral without the permission of the bondholders.
A detailed exploration of 'Closing' in the context of real estate transactions and accounting procedures, including definitions, processes, historical context, and related terms.
A comprehensive guide to understanding the various fees and expenses associated with real estate closings, commonly referred to as closing costs.
The closing date in real estate is the date on which the seller delivers the deed and the buyer pays for the property. This pivotal moment marks the culmination of the real estate transaction, involving the transfer of title from seller to buyer.
A comprehensive definition of a closing statement, which accounts for funds from a real estate sale, provided separately to both the seller and the buyer.
A cloud on title refers to any matter appearing in the record of a title to real estate that on its face appears to reflect the existence of an outstanding claim or encumbrance that, if valid, would defeat or impair title but might be proven invalid by evidence outside the title record.
Cluster Housing is a real estate subdivision technique where detached dwelling units are grouped closely together, leaving open spaces as common areas. This method promotes sustainability and community living by preserving more open spaces compared to traditional subdivision designs.
Co-Mortgagor: A person who signs a mortgage contract with another party, jointly obligated to repay the loan, often aiding in meeting loan requirements and sharing ownership in the property.
