| Blanket Mortgage |
A mortgage which is secured by several structures or a number of lots. A blanket mortgage is often used to finance proposed subdivisions or development projects, especially cooperatives.
|
| Boundaries |
The perimeters or limits of a parcel of land as fixed by legal description which is usually a metes and bounds description. |
| Breach Of Contract |
Violation of any of the terms or conditions of a contract without legal excuse; default, non-performance, such as failure to make payment when due. |
| Broker |
One who acts as an intermediary between parties to a transaction. A real estate broker is a properly licensed person who, for a valuable consideration, serves as an agent to others to facilitate the sale or lease of real property. |
| Brokerage |
That aspect of the real estate business which is concerned with bringing together the parties and completing a real estate transaction. Brokerage involves exchanges, rentals, trade-ins and management of property, as well as sales. |
| Building Permit |
A written permission granted by the City Building Department and required prior to beginning the construction of a new building or other improvement (including fences, fence walls, retaining walls and swimming pools). |
| Bundle Of Rights |
An ownership concept describing all those legal rights which attach to the ownership of real property, including the right to sell, lease, encumber, use, enjoy, exclude, will, etc. |
Did I Miss the Word YOU Are Looking For?
Is there a real estate word that I failed to explain here in my dictionary for homebuyers and sellers? Let me be your personal real estate dictionary! I'll send a brief explanation of any word or term that you encounter when buying and selling property.
Do you have a suggestion of a real estate word that should be included? Let me know! I always appreciate feedback.
Fill out the form below for a quick response from me by email. It's free, without obligation, and I guarantee your privacy.
|
