Definition: The value determined by a county tax appraiser for each unit of real property for tax purposes. Pronunciation: ə-ˈses-ed Used in a Sentence: The taxes on the property were increased because the assessed value w..
Definition: An amount that a person is officially required to pay, especially as a tax or individual share of a common expense in a condo or co-op building Pronunciation: ə-ˈses-mənt Used in a Sentence: Our share of the condo assessment is $24..
Definition: Anything of value. Pronunciation: ˈa-ˌset Used in a Sentence: The updated finishings are an asset to the..
Definition: A person to whom a right or property is legally transferred. Pronunciation: ˌa-sə-ˈnē, ˌa-ˌsī-, ə-ˌsī- Used in a Sentence: The daughter was the assignee for her parent’s..
Definition: The written instrument that serves to transfer the rights or interests of one person to another. Pronunciation: \ə-ˈsīn-mənt Used in a Sentence: Constructive notice is given when an assignment of a mortgage is..
Definition: A legal instrument stating that the mortgagee transfers the mortgage and promissory note to the purchaser. Pronunciation: \ə-ˈsīn-mənt \ˈmȯr-gij Used in a Sentence: The assignment of mortgage transferred the property from the seller to ..
Definition: Person who gives legal rights or interests to another person. Pronunciation: \ˌa-sə-ˈnȯr Used in a Sentence: The assignor transferred the mortgage and promissory note to the ..
Definition: The taking over of another’s debts. Pronunciation: \ə-ˈsəm(p)-shən Used in a Sentence: With the assumption of the mortgage, the buyer was obligated for t..
Definition: Handling negotiations on one’s own behalf without being subject to the other party’s control or influence. Pronunciation: Used in a Sentence: Due to the mistrust on the part of the seller, the negotiations were done at ar..
Definition: A seizure by legal process to prevent removal of property that is expected to be used to satisfy a judgement. Pronunciation: \ə-ˈtach-mənt Used in a Sentence: An attachment was issued to prevent the equipment from being removed from the..