9/10/2010 Agent Login

Glossary A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z 22 glossary terms found   1 2 3 Tax deduction A tax break given by the government. Mortgage interest, loan points and property taxes can be deducted. Tax lien An impediment placed against a property, such as back taxes. Tax sale The public sale of a property by the government for nonpayment of taxes. Tax shelter A term often applied to real estate investment and refers to various tax advantages. Teaser rate A low, short-term rate offered on a mortgage to entice the borrower. Tenancy by the entirety When a married couple owns a home, it is considered tenancy by the entirety.  Both spouses must agree to sell or encumber the property. Tenants in common Two or more owners who share interest in a specific property. The 72-hour clause When a buyer has a house to sell before they can purchase another home, most sellers insist on a 72-hour clause. In the event of a better offer coming in before the contingency is settled, this clause entitles the seller to give the buyer 72 hours to remove the contingency or lose the house. Third-party origination In a third-party origination transaction, the lender has another institution originate all or part of a mortgage. Title The actual legal document conferring ownership of a piece of real estate. 1 2 3   Title Agents & Attorneys Home Buyers & Sellers Lenders, Builders, Real Estate Agents & Commercial Home | About Us | Services | Locations | Contact Us | Resources | FAQs | Forms | Newsletter | Become an Agent Become an Approved Attorney | Site Map | Helpful Information | Corporate Governance | Employee Login | Privacy Policy