Word of the Week


 

Replevin:

Legal proceedings undertaken by a tenant to recover

possessions of personal belongings that have been unlawfully

confiscated by a landlord (usually for nonpayment of rent).

 

Advertisements

Word of the Week:


 

Riparian Rights:

 

The water rights of a land-owner whose property is adjacent to or

 crossed by a body of water.

 

Word of the Week:


Remise:

To give up; a term used in quitclaim deeds.

Word of the Week:


Obligatory Advances:

Disbursments of construction loan funds that the lender is

 obligated to make (by prior agreement with the borrower)

when the borrower has completed certain phases of construction.

Word of the Week


 UNDERIMPROVEMENT

An improvement which, because of deficiency in cost or size,

is not the most profitable use of land;

not the highest and best use.

Word of the Week


TORT

A breach of duty imposed by law (as opposed to a duty voluntarily taken on in a contract) that causes harm to another person, giving the injured person the right to sue the one who breached the duty. Also called civil wrong (in contrast to a criminal wrong, a crime).

Word of the Week


INCOME RATIO~ A standard used in qualifiying a buyer for a loan, to determine whether he or she has sufficient income; the buyer’s debts and proposed housing expense should not exceed a specified percentage of his or her income

Previous Older Entries