Definition: a tenant or leaseholder; party given a lease Pronunciation: \le-ˈsē\ Used in a Sentence: The lessee has the right to expect the landlord to make all necessary repairs in a time..
Category : L
Definition: the landlord or owner; party granting a lease Pronunciation: \ˈle-ˌsȯr, le-ˈsȯr\ Used in a Sentence: Lessors are free to charge as much as they want fo..
Definition: a mortgage scheduled to be repaid in equal periodic payments that include both principal and interest. Pronunciation: Used in a Sentence: Because we had a level-payment plan we knew our mortgage payments would be the same ev..
Definition: the use of borrowed funds to purchase property with the expectation the property will increase in value and turn a profit. Pronunciation: \ˈle-və-rij\ Used in a Sentence: The developer decided to leverage the purchase price of the property by borrowing ..
Definition: debts, financial obligations Pronunciation: \ˌlī-ə-ˈbi-lə-tē\ Used in a Sentence: In a personal financial statement, assets minus liabilities equal ..
Definition: formal permission from a constituted authority to engage in a certain activity or business Pronunciation: \ˈlī-sən(t)s\ Used in a Sentence: In order to get your real estate license you must pass a state ex..
Definition: a person who has a valid real estate or appraisal license. Pronunciation: \ˌlī-sən(t)-ˈsē\ Used in a Sentence: Licensees owe a duty of good faith and honesty to ..
Definition: the granting of licenses especially to practice a profession Pronunciation: \ˈlī-sən-shər, -ˌshu̇r\ Used in a Sentence: Licensure is obtained when an applicant passes the state lic..
Definition: a legal claim that someone or something has on the property of another person until a debt has been paid back Pronunciation: \ˈlēn, ˈlē-ən\ Used in a Sentence: The property in question does not have a lien against ..
Definition: legal concept that regards a mortgage as a just claim on specific property pledged as security for a mortgage debt Pronunciation: \ˈlēn, ˈlē-ən\ \ˈthē-ə-rē, ˈthir-ē\ Used in a Sentence: Today most states, including Florida, are lien theo..