Contributor | Propertylogy - Part 33

All posts by Contributor

  • Overimprovement

    Overimprovement refers to improvements made at a site with a value that far exceeds the value of the land.

    While some land owners have their unique...

    • Posted December 21, 2018
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  • Actual Age

    The actual age of a building refers to it’s real age since being commissioned as a building instead of it’s effective age.

    The reason why this...

    • Posted December 20, 2018
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  • Judgment-proof

    Judgment-proof refers to the unique situation whereby the assets of a debtor is beyond the legal reach of creditors even if their dispute is taken...

    • Posted December 19, 2018
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  • No Deal No Commission Clause

    A no deal no commission clause is a term within contract of service between a home seller and real estate agent which stipulates that the...

    • Posted December 18, 2018
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  • Garnishment

    Garnishment is a legal process that enables a means to safeguard creditors interest by involving 3 parties.

    The 3 parties are:

    1. Judgment creditor
    2. Judgment debtor
    3. Garnishee

    The judgment creditor refers...

    • Posted December 17, 2018
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  • Curtilage

    Curtilage refers to the enclosed ground space immediately surrounding a dwelling or building that is part of the property.

    Examples of such spaces include lawns, patios,...

    • Posted December 15, 2018
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  • Anticipatory Breach

    An anticipatory is a statement, declaration or action made by a buyer or seller indicating no intention to perform or adhere to certain terms prior...

    • Posted December 14, 2018
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  • Homestead

    Homestead refers to a tract of land, including the house, that is owned that occupied by a household that also serves as the permanent residence.

    Different...

    • Posted December 13, 2018
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  • Inchoate

    Inchoate is a legal term that basically means unfinished, incomplete, impartial, imperfect, begun but not completed, etc.

    In the world of real estate, this word is...

    • Posted December 12, 2018
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  • Small Bay Retail And Other Commercial Properties

    The term small bay basically refers to spaces of no more than 2,500 square feet in floor area.

    While it can be used to describe residential...

    • Posted December 11, 2018
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