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All posts by Contributor
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Underimprovement
Underimprovement refers to a site that does not have improvements that make the most of it’s best use for a property.
This is...
- Posted January 29, 2019
Negotiable InstrumentA negotiable instrument refers to any document that is a promise of payment to the bearer or to order.
This means that such a written instrument...
- Posted January 28, 2019
Bundle Of RightsThe bundle of rights theory is a concept where all the legal rights that come with real estate ownership is packaged together.
Some of the rights...
- Posted January 26, 2019
Adverse PossessionAdverse possession is a legal method of acquiring ownership to property when the actual owner knowingly fails to assert his right and enforce the law...
- Posted January 25, 2019
Open And NotoriousAn open and notorious possession of property describes an occupant of property making it very clear for a reasonable person to know that he is...
- Posted January 24, 2019
Antideficiency ProtectionAntideficiency laws mean that borrowers who owe more than what they property is worth will not be subject to deficiency actions by creditors.
For example, if...
- Posted January 23, 2019
Nominal ConsiderationNominal consideration refers to a consideration amount that is significantly less than the market value of the asset which changes hands in...
- Posted January 22, 2019
Muniment Of TitleThe term muniment of title refers to legal documentation that serves as an evidence of title ownership, which implies proof of property...
- Posted January 20, 2019
Closing StatementA closing statement is a document containing list of itemized funds that changed hands when a real estate or mortgage transaction is closed.
For the purpose...
- Posted January 19, 2019
Salvage ValueThe salvage value of an asset is it’s estimated value at the end of it’s useful life.
In the real estate industry, salvage value usually (if...
- Posted January 18, 2019