Leasehold: An estate or right in real property held under a lease. Conveyance: An instrument in writing by which a person transfers some estate, interest, or title in real estate to another, such as a deed or lease. Check: Synonym for quadrangle, a 24 mile square tract of land in the Governmental Survey System. Additional space down perfect for home office, guest space or zoom room. Dower:A common-law estate consisting of a one-third interest in a husband's real property given to his wife upon his death.
Covenant: A promise or agreement, usually in writing, to do or not do certain acts; also stipulations in a real estate conveyance document governing use of the property. Net rentable area is important because that is generally how a space is measured for purposes of sharing common expenses.
Mortgagee: The party (lender) to whom property is conveyed under a mortgage as security for the repayment of a loan or fulfillment of some obligation. High ceilings, oversized windows, and tons of natural light accentuate a modern kitchen that has plenty of adjacent dining space. The updated kitchen overlooks the living room and features brand new stainless steel appliances, new backsplash, granite countertops, and generous storage space. Mortgagor: The party who gives a mortgage (borrower) conveying interest in the property to the lender as security for the obligation to repay a loan or fulfill some obligation. Master suite feat ensuite bath w double sink vanity & expansive walk-in closet. Controller: The chief accounting executive of an organization responsible for (1) financial reporting, (2) tax administration, (3) management audits, (4) planning controls and (5) developing accounting systems and procedures. assignor: The party who assigns or transfers a legal right. On opposite ends of the adjacent hallway are an airy bedroom and a full bathroom, with stacked Bosch laundry machines hidden away in a nearby closet. Conventional mortgage: A mortgage securing a loan made by private investors without governmental participation, i.e. Lease: An agreement under which a tenant receives possession and use of real property for a certain period of time and the landlord receives the payment of rent and/or the performance of other conditions.
Economic life: The period of time over which improved property may be profitably used.
Range: A six-mile wide strip of land that runs in a north-south direction. : Growth Management Quota System – A system designed to regulate the rate and quality of growth. Certificate of taxes: A written guaranty of the condition of the taxes on a certain property made by the county treasurer wherein the property is located. Community property: Property acquired by a husband and wife, or either, during marriage, by their industry and not by gift, belonging equally to husband and wife. Special assessment: A tax against real property made by a unit of government to cover the proportionate cost of an improvement, such as a street or sewer. The key principle of NRA is that the individual space sq. This means that in addition to the $14 sf yearly rate the Tenant is also responsible for paying the NNN (taxes, insurance, and maintenance fees).
The triple net (NNN) in a commercial real estate lease stands for Net, Net, Net which are the taxes, property insurance, and common area maintenance charges that Tenants or Lessees pay for in addition to their base rent.
Right-of-way: An easement or right to pass over another's land; also the strip of land used as roadbed by a railroad or used for a public purpose by other public utilities.
Landlord: An owner who has leased an estate-in-land to a tenant. Beautifully finished with sophisticated materials and finishes, this one bedroom and two full baths loft boats wide plank, white Oak hardwood flooring, skylights for abundant natural light, upgraded overhead lighting, and custom window coverings. United States Government(or Rectangular) Survey System (GSS): A land description method based on reference to governmental surveys. Buying a home for the first time can be terrifyingly intimidating—there's s... Sotheby's International Realty - San Francisco Brokerage, Home Buyers Reveal: 'What I Wish I Had Known Before Buying My First Home, Selling Your Home? Tort: A negligent or intentional wrong done to another for which the law will grant money damages in a civil action.
In Colorado, time-share sales are subject to license law. T.d.r.. Construction mortgage: A short-term loan used to finance the building of a structure. Fee simple absolute, (fee or fee simple): The most comprehensive ownership of real property under law; the largest bundle of ownership rights possible. Form and function are of equal importance in the kitchen, which features Bosch and Thermador appliances, cabinetry by Barbosa Cabinets, Caesarstone quartz slab countertops, and a large breakfast bar. Latin meaning "according to value"; normally used to describe a tax based on the assessed value of real property.
Approximately 962 sq ft of living space price under $790 sq. Here you should find all the terms and lingo you need to know about in the world of Real Estate. Any loss resulting from an error in a tax certificate shall be paid by the county that such treasurer represents. Real estate is a form of real property. not F.H.A.-insured or V.A.-guaranteed. Usury: Charging more than the legal rate of interest for the use of money. Homestead exemption: Also know as "homestead" or "homestead right"; a fixed, statutory sum exempt from execution by creditors, and intended to protect a family home from foreclosure or sale for debts. The rental period (week, month or year, etc.) Stunning loft style two level 2 bedroom, 2 bathroom courtyard home with a spacious private patio situated in the Malt House, one of North Beach's premier developments. For example say you find Austin commercial real estate quoted as $14 NNN. Conditions, Covenants and Restrictions. (assessed value x .001). Blanket mortgage: A mortgage that covers more than one piece of property.
Amenities: In real estate, amenities are features such as location, outlook, or access to a park, lake, highway, view or the like which enhance the desirability of real estate and which contribute to the pleasure and enjoyment of the occupants. Also you will find that office, retail, and warehouse spaces are typically quoted as NNN leases, especially in Austin, Tx. Low condo dues, private yard and one car parking just steps to 24th Street in the Mission! F.a.r. Treasurer's deed: A deed for property sold at public sale by the county for non-payment of taxes by the owner. Specious master suite feat ensuite bath w double sink vanity & a generous walk-in closet. Main floor features open floor plan with dramatic high ceiling and modern light engineer hardwood floors throughout. They would compete for an annual “allotment” of floor area which is awarded based on categorized scoring criteria. Curtesy: A common-law life-estate in all of a wife’s real property given to the husband upon her death, provided a child was born from their marriage; abolished in Colorado. Independent broker: A license level qualifying a broker to work without the supervision of an employing broker, requiring two years of active licensed experience, and if upgrade to broker associate was by means of the broker transition course, passage of the Colorado part of the broker licensing exam. Assessed valuation: An estimate of value by a unit of government for taxation purposes. Lessor: Party who conveys a right or estate in realty to a lessee under a lease; commonly referred to as landlord. Writ of execution: A court order directing an officer of the court, usually the sheriff, to carry out the judgment or decree of the court. A developer may elect, thru the GMQS process, to apply for additional floor area on a project or a site.
Exclusive right-to-sell listing: A listing whereby the owner engages one real estate brokerage as sole broker for a specified period of time, entitling the broker to a commission regardless of who sells the property, including the owner. Windows across the living space and 10 foot ceilings open up the space. What does RSF stand for in Real Estate?
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