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Assessed value: The value of real estate property as determined by an assessor, typically from the county. "As-is": A contract or listing clause stating that the seller will not repair or correct ...
Jaime Uziel knows that as a real estate attorney his clients depend on him to interpret the legalese that's part of any real estate transaction. He's happy to do that, he says, but he also tries ...
In English common law, fee tail or entail is a form of trust, established by deed or settlement, that restricts the sale or inheritance of an estate in real property and prevents that property from being sold, devised by will, or otherwise alienated by the tenant-in-possession, and instead causes it to pass automatically, by operation of law, to an heir determined by the settlement deed.
Here are 15 real estate terms you need to know. Real Estate Agent. Professional who represents the seller (listing agent) or buyer (buyer’s agent) in a real estate transaction. Agents are ...
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Binder – In law, a binder (also known as an agreement for sale, earnest money contract, memorandum of sale, or contract to sell) is a short-form preliminary contract in which the purchaser agrees to buy and the seller agrees to sell certain real estate under stated terms and conditions, usually in the form of a purchase offer, and is ...
Bieber's Dictionary of Legal Abbreviations. 6th ed. Buffalo, NY: Hein, 2009. Bieber's Dictionary of Legal Abbreviations, 5th ed. at Google Books; Trinxet, Salvador. Trinxet Dictionary of Legal Abbreviations and Acronyms Series. A Law Reference Collection, 2011, ISBN 1624680003 and ISBN 978-1-62468-000-7; Trinxet, Salvador.
Duration: The exclusive right to sell clause in the contract you establish with your real estate agent should have an expiration date, which might be anywhere from 30 days to six months or more ...