A tax break given by the government. Mortgage interest, loan points and property taxes can be deducted.
An impediment placed against a property, such as back taxes.
The public sale of a property by the government for nonpayment of taxes.
A term often applied to real estate investment and refers to various tax advantages.
A house that requires the entire interior to be rebuilt.
Tenancy
How title of real property is held.
When a married couple owns a home, it is usually considered tenancy by the entirety. If the property must be sold to pay the debts of one spouse, both must agree.
Two or more owners who share interest in a specific property.
Termination
End or cancel.
Title
Right of ownership to Property.
Firms that ensure that the title to a piece of property is clear and provide title insurance.
A policy issued to lenders and buyers to protect any losses because of a dispute over the ownership of a piece of property.
The percentage of monthly debt obligations relative to gross monthly income.
An attached home that is not a condominium.
Other real estate or assets a buyer gives to a seller as part of the down payment.
Any legal means by which a piece of real estate changes hands.
Transfer of Title
The act of changing the legal right of ownership.
An assessment by state or local authorities at the time a piece of property changes hands.
Special accounts used by brokers and escrow agents to safeguard funds for a buyer or seller.
A legally empowered person who holds or controls a piece of property for another person.
