Privity refers to the direct connection or relationship between two parties in a legal context, often cited in contract law, property law, and more.
Detailed explanation of probate estate, involving property passing by will or intestate succession law from a decedent to heirs or beneficiaries. Comparison with gross estate included.
Understanding the legal term 'Procuring Cause,' which refers to the direct cause resulting in accomplishing a transaction goal, specifically used in real estate to determine a broker's entitlement to a commission.
A comprehensive overview of production builders and production homes, their characteristics, efficiency, and comparison with custom builders.
Understanding the time duration for estimating future cash flows and resale proceeds from an investment, significantly impacting discounted cash flow analysis.
Understanding the concept of property, including its types, significance, and related legal and economic considerations.
A detailed examination of property lines, their significance, types, and legal context.
An in-depth look into Property Management covering rental, rent collection, maintenance, accounting, reporting, leasing, and more.
A detailed overview of the Property Report required by the Interstate Land Sale Act for the sale of subdivisions with 50 lots or more.
Proprietary interest refers to any right in relation to a chattel that enables a person to retain its possession indefinitely or for a period of time.
A detailed explanation of proprietary leases, their terms, applicability, and comparison with other forms of apartment ownership.
Prorate refers to the allocation of obligations or expenses between different parties in a proportionate manner. This term is commonly used in real estate transactions, insurance, and refunds for unearned amounts.
A Protective Covenant is a type of agreement that imposes restrictions on land or property use to protect the interests and values within a community or development.
The principal value of an oil or gas property, demonstrated through prospecting, exploration, or discovery work, distinguishing between development wells and wildcat wells.
An in-depth look into the role of a Public Adjuster, a professional who represents an insurance claimant, often an owner, in the event of major property damage.
A comprehensive overview of Public Housing, government-owned housing units made available to low-income individuals and families for nominal rental rates.
Public Housing Authority Bonds are financial instruments issued by local public housing agencies, secured by an agreement with the Department of Housing and Urban Development. These bonds facilitate funding for local housing projects by ensuring federal loans to cover principal and interest to maturity.
Public land refers to acreage held by the government for various conservation purposes, including limited activities such as grazing, wildlife management, recreation, timbering, mineral development, and hunting.
A comprehensive guide to understanding public records, including their significance, types, and usage in real estate and court documents.
Learn about Public Sale, a sale open to the public where members can bid, including types, procedures, legal contexts, and common examples.
A comprehensive guide to understanding Planned Unit Developments (PUDs), including their definitions, types, regulations, benefits, and examples.
PUFFING refers to the practice of overstating or exaggerating the qualities of a property, often by a salesperson. It can be grounds for a misrepresentation lawsuit.
A detailed explanation of a punch list, its purpose, types, and application in various fields such as construction, real estate, and machine repairs, inclusive of historical context and related terms.
An estate in property that one person grants to another only for the duration of the life of a third person.
A Purchase Contract, also known as a Contract of Sale or Purchase Agreement, outlines the terms and conditions of a transaction between a buyer and a seller.
An in-depth examination of purchase money mortgages, their types, applications, historical context, and relevance in modern real estate transactions.
Comprehensive overview of qualified replacement property, its relevance in like-kind exchanges and involuntary conversions according to IRS regulations, examples, special considerations, and FAQs.
A comprehensive guide on Qualified Residence, the primary and secondary residences for tax deduction purposes, including interest deduction and eligibility criteria.
Quiet Enjoyment refers to the right of property users to enjoy their premises without disturbance. This right can be implied in leases and deeds to protect tenants and property owners.
A comprehensive look into Quiet Title Suits, legal actions used to settle property ownership disputes and provide clear title to rightful owners. Historical context, legal considerations, and examples are reviewed.
A quitclaim deed is a legal instrument that transfers the grantor's interest in a property without warranties or guarantees of title.
Comprehensive explanation of Rate Caps and their role in Adjustable-Rate Mortgages. Detailed insights into different types of rate caps, historical context, applicability, and related terms.
A comprehensive overview of raw land, including its definition, characteristics, potential uses, and considerations.
Definition and implications of 'Ready, Willing, and Able' in the realm of real estate and other fields.
Real Estate refers to land and everything more or less attached to it, including mineral rights below ground and air rights above ground. This entry provides a comprehensive understanding of real property and related terms.
In-depth exploration of real estate, its types, importance, historical context, and related terms for a complete understanding of the field.
A comprehensive overview of a Real Estate Agent, their duties, responsibilities, and impact on the real estate market.
A comprehensive overview of Real Estate Brokers, including their roles, licensure, functions, history, and comparisons with related terms.
A detailed guide on the process, considerations, and implications of real estate closing transactions.
An in-depth look at the state agencies responsible for enforcing real estate license laws and regulations.
A Real Estate Investment Trust (REIT) is a company that owns, operates, or finances income-producing real estate, which allows small investors to participate in large real estate ventures without the burden of double taxation.
A Real Estate Investment Trust (REIT) is a company that owns, operates, or finances income-producing real estate across various sectors. Learn about the types, benefits, risks, and how to invest in REITs.
A Real Estate Limited Partnership (RELP) is a type of limited partnership that invests in properties and passes rental income through to limited partners.
An overview of the real estate market, focusing on potential buyers and sellers of real property, as well as the current transaction activity for various property types.
A pass-through vehicle created under the Tax Reform Act of 1986 to issue multiclass mortgage-backed securities, organized as corporations, partnerships, or trusts, and exempt from double taxation under specified qualifications.
Real Estate Owned (REO) properties are those acquired by lenders through foreclosure and held in inventory. Understanding REO properties is crucial in the realms of real estate investment and banking.
Understanding Real Estate Owned (REO), property owned by a lender, typically a bank, after an unsuccessful sale at a foreclosure auction.
Detailed insights into RESPA regulations that guide how mortgage lenders must treat applicants of federally related real estate loans on property with one to four dwelling units, ensuring transparency and borrower awareness.
A detailed view of the sale or exchange of reportable real estate, including monetary, indebtedness, or property considerations, and taxation nuances.
Comprehensive overview of Real Property - including land, permanent structures, rights associated with land, and its legal implications.
A REALTIST is a member of the National Association of Real Estate Brokers, a group primarily composed of minority brokers dedicated to promoting ethical real estate practices and improving economic opportunities for all.
A REALTOR is a real estate professional who subscribes to a strict code of ethics as a member of the local and state boards and of the National Association of Realtors.
A Reappraisal Lease periodically reviews the rental level through independent appraisers to ensure that the rental price reflects current market conditions.
Comprehensive look at the process of reassessment, spanning general review processes and specific applications in real estate to update property value estimates for tax purposes.
Comprehensive understanding of the Recapture Rate in appraisal, including its methods, calculations, and relevance in deriving the Capitalization Rate.
Reconditioning property involves restoring it to its original specifications, enhancing its value through repairs or strategic modifications.
Reconveyance is a legal transaction where a lender transfers the property title back to the borrower after the mortgage debt has been fully paid.
The recording is the process of officially documenting a transaction in a public record, notably for instruments affecting the title to real property, to give public notice of the recorded facts.
A Recovery Fund is a financial pool established to reimburse aggrieved persons who suffer losses due to the wrongful actions of licensed real estate brokers or agents. It is typically administered by a state Real Estate Commission and funded by contributions from all licensees.
Comprehensive coverage of the concept of 'redeem' in various contexts including finance, mortgages, and general usage, along with examples and historical context.
A detailed overview of the redemption period, the timeframe in which a former owner can reclaim foreclosed property, and its implications in real estate and foreclosure law.
Redevelopment involves the demolition of existing improvements and construction of new, often different, improvements on a site.
Redlining is an illegal practice involving the refusal to originate mortgage loans in certain neighborhoods based on race or ethnic composition. The term stems from the alleged practice of drawing red lines on maps to mark off-limit areas for loan approvals.
A document in which the mortgagee (lender) acknowledges the sum due on a mortgage loan. It is used when mortgaged property is sold and the buyer assumes the debt.
An in-depth look into Refinanced Mortgages, their types, mechanisms, benefits, and impacts on the economy.
An in-depth explanation of Regional Shopping Centers, including their characteristics, types, historical context, and related terms.
An in-depth look at the Registry of Deeds, its role in registering evidences of conveyances of interests in real property, and its importance in providing constructive notice.
An in-depth look at Rehabilitation Tax Credit, a tax incentive providing a 10% or 20% credit for the costs of rehabilitating older buildings and certified historic structures. Understand its benefits, qualifications, and impact on property development and preservation.
A comprehensive explanation of the term 'Release' across various domains including General Use, Real Estate, and Computers.
A Release Clause in a mortgage that allows the property owner to pay off a portion of the mortgage indebtedness, thereby freeing part of the property from the mortgage lien.
An in-depth look at relocation benefits required by the government in condemnation cases, covering eligibility for owners, tenants, and other occupants who are forced to relocate.
A comprehensive guide on Relocation Clause in a lease agreement, including its implications, types, examples, considerations, and frequently asked questions.
Relocation Service: An in-depth encyclopedia entry detailing the functions, types, considerations, and applicability of relocation services for employee transitions between cities.
A remainder is a future interest in an estate in land, which becomes possessory upon the termination of the preceding estate, such as a life estate or a term of years, without reverting to the original grantor or their heirs.
Remainder Interest is a future interest granted to a different party than the original owner upon the termination of a prior estate.
A remainderperson is an individual who has an interest in an estate that becomes possessory after the termination of a present possessory interest, commonly referring to a person holding an interest in a remainder, whether vested or contingent.
A detailed overview of Real Estate Mortgage Investment Conduits (REMICs), their structure, function, applications, and regulations in the financial and real estate industries.
The Renewal Option provides a tenant the right, but not the obligation, to continue a lease at a specified term and rent.
An in-depth exploration of rent control laws, their economic implications, and their impact on the housing market.
An in-depth examination of rent rolls, including their definition, components, applications, and significance in the real estate industry.
The Rent-Free Period is a designated span within a lease agreement during which tenants are not required to pay rent, often used as a concession to attract new tenants or negotiate lease terms.
The Rent-Up Period refers to the time it takes for newly constructed properties to become fully occupied. Discover detailed insights on its significance, measurement, and influencing factors.
Rentable Area refers to the total floor area that a tenant can use exclusively during a lease, often linked with terms such as Net Leasable Area in commercial real estate contexts.
A comprehensive guide to understanding Rental Rates, including periodic charges, units of measurement, examples, historical context, and the significance in real estate and economics.
Comprehensive overview of reorientation in the context of property and business, including its definition, types, special considerations, examples, and related terms.
A comprehensive guide to understanding repairs and their significance in property maintenance, distinguishing repairs from capital improvements.
Replacement Cost refers to the cost of erecting a building to serve the functions of a previous structure or the cost of replacing lost or stolen personal property. It is a critical concept in fields such as insurance, real estate, and accounting.
An in-depth exploration of Replacement Reserve, a crucial financial provision for addressing the depreciation of short-lived assets.
A detailed examination of reproduction cost, which focuses on the expense of achieving an exact duplication of a property, both real and personal, at a specific date, while contrasting it with replacement cost.
Resale Price refers to the anticipated selling price of a property at the end of a specified projection period, commonly used in investment performance projections.
Resale proceeds are the amount a former owner receives upon a sale after paying transaction costs, remaining debt, and sometimes income taxes.
Reservation Price defined as the maximum price a buyer is prepared to pay to achieve primary objectives, such as affordability and aligning with market value.
A detailed exploration of Reserve Funds in real estate, including types, applications, and special considerations.
Understanding Residence, also referred to as Personal Residence, Principal Residence, and Qualified Residence, including its definitions, applications, and distinctions.
A Resident Manager supervises the maintenance and management of an apartment complex while residing on-site, ensuring cleanliness, handling tenant relations, and providing access to service personnel.
An in-depth look into residential property, its types, considerations, historical context, and relevance in modern economics and real estate.
A comprehensive overview of residential brokers, their role in listing and selling houses or condominiums, comparison with commercial brokers, and key competencies required.
A comprehensive guide to understanding residential districts, their significance in zoning laws, types, historical context, and related terms.
An in-depth examination of residential mortgages, their types, tax implications, and applications in real estate financing.
A comprehensive guide to understanding residential property within real estate brokerage, focusing on owner-occupied housing. This article covers definitions, types, examples, historical context, and applicability in the modern real estate market.
