Definition: An agreement between two or more competent parties to do, or not do, a specified legal act for a legal consideration. Pronunciation: \ˈkän-ˌtrakt\ Used in a Sentence: Both the buyer and seller have signed the contract..
Category : C
Definition: A financing method wherein the seller agrees to deliver the deed at some future date and the buyer takes possession while paying the contracted amount. Also called a land contract, installment sale contract, or agreement for deed. Pronunciation: \ˈkän-ˌtrakt\ Used in a Sentence: The seller agreed to a contract for deed which allowed the buyer to ..
Definition: A real estate loan that is neither FHA- insured or VA-guaranteed. Pronunciation: \kən-ˈvench-nəl, -ˈven(t)-shə-nəl\ \ˈlōn\ Used in a Sentence: We were able to purchase our house by obtaining a conventi..
Definition: Unauthorized use or withholding of money or property that rightfully belongs to another person. Pronunciation: \kən-ˈvər-zhən, -shən\ Used in a Sentence: The broker was charged with conversion for using earnest money funds for his own per..
Definition: A financing method allowing a change from an adjustable-rate to a fixed-rate mortgage. Pronunciation: \kən-ˈvər-tə-bəl\ \ˈmȯr-gij\ Used in a Sentence: We were able to change to a fixed-rate mortgage because we had a convertible..
Definition: The transfer of title or an interest in real property by means of a written instrument such as a deed or an assignment of lease. Pronunciation: \kən-ˈvā-ən(t)s\ Used in a Sentence: With the conveyance of the deed, the property was transferred to the ..
Definition: A multiunit project consisting of individual dwelling units owned by the corporation. The individual apartment tenants own stock in the corporation rather than owning their respective units. Pronunciation: \kō-ˈä-p(ə-)rə-tiv, -ˈä-pə-ˌrā-\ Used in a Sentence: Cooperative buildings are not as popular in this area as they are in the ..
Definition: A lot bounded with intersecting streets on two sides. Pronunciation: \ˈkȯr-nər\ Used in a Sentence: We chose the corner lot because it had more..
Definition: An artificial or made-up person formed to conduct specified types of business activities. Pronunciation: \ˌkȯr-pə-ˈrā-shən\ Used in a Sentence: The group decided to form a corporation to carry out their busines..
Definition: An artificial or made up person formed by an ecclesiastical body. Pronunciation: \ˌkȯr-pə-ˈrā-shən\ \ˈsōl\ Used in a Sentence: A corporation sole cannot be registered as a real esta..