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All posts by Contributor
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Nonrecourse LoanA 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...
- Posted January 14, 2020
Demand NoteA 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...
- Posted January 7, 2020
Wear And TearWear 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...
- Posted December 28, 2019
Littoral LandLittoral 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...
- Posted December 22, 2019
Limited Common ElementsLimited common elements refer to facilities that are part of a shared development, such as those of a condominium, that are reserved for use by...
- Posted December 20, 2019
Capital AssetCapital asset refers to all property that is held by a taxpayer fro sale to customers, excluding inventory, property used for business, and property held...
- Posted December 19, 2019
Economic-Base AnalysisEconomic-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...
- Posted December 13, 2019
Augmented EstateAugmented 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...
- Posted December 12, 2019
Branch OfficeA 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...
- Posted December 11, 2019
Cluster DevelopmentCluster development is a type of site planning where a grouping of residential units are built very close to each other in small lots, and...
- Posted December 10, 2019