Contributor | Propertylogy

All posts by Contributor

  • Nonrecourse Loan

    A nonrecourse loan is a loan from a lender in which the borrower has no personal liability in repaying it. This essentially means that should a borrower default on a non-recourse loan, the lender would only be...

    • Posted January 14, 2020
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  • Demand Note

    A demand note is a promissory note containing terms that allow the holder to legally request for full repayment of the loan. The industry term for this request for full repayment is to call in the loan....

    • Posted January 7, 2020
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  • Wear And Tear

    Wear and tear refers to the physical deterioration of property caused by natural disintegration which includes being subject to the weather. This can cause problems and defects on foundations, structures, cosmetics, etc. Property that has suffered from...

    • Posted December 28, 2019
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  • Littoral Land

    Littoral land refers to land with borders on the sea, ocean or lake. They can be affected by water currents as erosion can be a risk that property owners undertake. While coastal real estate can be desirable...

    • Posted December 22, 2019
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  • Limited Common Elements

    Limited common elements refer to facilities that are part of a shared development, such as those of a condominium, that are reserved for use by one or more specific apartments. This is against what condominium facilities are...

    • Posted December 20, 2019
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  • Capital Asset

    Capital asset refers to all property that is held by a taxpayer fro sale to customers, excluding inventory, property used for business, and property held for resale in the ordinary business operations. Capital assets used to receive...

    • Posted December 19, 2019
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  • Economic-Base Analysis

    Economic-base analysis is an appraisal term that refers to the measurement of economic activity in a community which plays a prominent role in attracting income from outside the local area. Basic and non-basic employment trends are important...

    • Posted December 13, 2019
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  • Augmented Estate

    Augmented estate is a legal method of calculating ownership of assets of a surviving spouse on assets that descendants have acquired from a deceased spouse. When someone dies, whether testate or intestate, circumstances might arise where the...

    • Posted December 12, 2019
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  • Branch Office

    A branch office refers to an ancillary place of business other than the main or head office which is the principal place of doing business. The area so called branches because they are like tree branches growing...

    • Posted December 11, 2019
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  • Cluster Development

    Cluster development is a type of site planning where a grouping of residential units are built very close to each other in small lots, and common areas where residents share with one another. Such types of development...

    • Posted December 10, 2019
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