Credit card debt SERVICE– The amount of money required to meet up with the periodic payments of principal and interest any time a credit card debt is amortized. CO–TENANCY– A type of concurrent property possession during which two or maybe more people personal an undivided desire in the exact same home. COMMINGLING– To mingle or blend; as an example, to deposit shopper money in the broker’s personalized or common account. A licensee observed guilty of commingling can hold the license suspended or revoked by the Real-estate Fee. CLOSING Expenses– Bills of the sale which has to be compensated Along with the purchase selling price (in the case of the client’s fees), or be deducted in the proceeds on the sale (in the situation of the vendor’s expenses). BREACH OF Agreement– Violation of any on the conditions or conditions of a contract with no lawful justification; default, non-performance, including failure to generate payment when owing.
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BLANKET Mortgage loan– A property finance loan that's secured by several constructions or many plenty. A blanket property finance loan is usually utilized to finance proposed subdivisions or development assignments, Primarily cooperatives. BASE LINE AND MERIDIAN– An imaginary set of strains employed by surveyors to Find and explain land underneath the Rectangular Study Approach to house description Employed in most mainland states. Evaluation– A specific levy for any definite reason, such as including curbs or sewers in the community.
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