|
| Best Fixed Mortgage Rate |
|
Menu
|
Free Classifieds and Advertising for Individuals and Businesses at www.KeepSane.com
STEP-UP LEASE A lease with fixed rent for an initial term and provision for pre-determined rent increases at specified intervals and/or increases based upon periodic appraisals; sometimes called a graduated lease. ALIENATION CLAUSE A clause in a promissory note or mortgage which provides that the balance of the secured debt becomes immediately due and payable at the option of the mortgagee upon the alienation of the property by the mortgagor. FIDUCIARY A relationship which implies a position of trust or confidence wherein one is usually entrusted to hold or manage property or money for another. Among the obligations a fiduciary owes to the principal are duties of loyalty; obedience; full disclosure; the duty to use skill, care and diligence; and the duty to account for all monies. COMMERCIAL PROPERTY A classification of real estate which includes income producing property such as office buildings, gasoline stations, restaurants, shopping centers, hotels and motels, parking lots and stores, and other similar uses. OPEN HOUSE The common real estate practice of showing a listed home to the public during established hours, frequently on Sunday afternoons. PENTHOUSE An apartment located on the roof of a building, or more commonly, an apartment on the top floor of a building. ASSESSED VALUATION The value of real property as established by the state government for purposes of computing real property taxes. MONEY The cash deposit (including initial and additional deposits) paid by the prospective buyer of real property as evidence of his good faith intention to complete the transaction; called hand money or a binder in some states. |
Copyright © 2004-2005 | www.WeWillBuyYourHouseFast.com | Privacy Policy |