Definition: an interior lot that suffers from its location at the end of a t-intersection Pronunciation: \ˌin-tər-ˈsek-shən\ Used in a Sentence: T-intersection lots are usually less desirable because of the inconvenience of car headlights shining into..
Category : T
Definition: a written commitment from a financial institution certifying that permanent financing will be provided when the project is completed Pronunciation: Used in a Sentence: With a written takeout commitment from the future lender, it is much easier for a developer to find a constructi..
Definition: anything of substance; personal and real property (e.g. cash, building, equipment, land) Pronunciation: \ˈtan-jə-bəl\ \ˈa-ˌset\ Used in a Sentence: A tangible asset can be touched and has actual ..
Definition: a document issued to a person as a receipt for paying the delinquent taxes on real property owned by another, entitling the person to receive either the delinquent taxes plus interest from the legal property owner, or a deed to the property if the property is not redeemed within a certain period of time ..
Definition: a provision in a mortgage that requires the borrower to pay all legitimate property taxes Pronunciation: \ˈklȯz\ Used in a Sentence: We were required to pay the property taxes on the building due to the tax clause in the..
Definition: a type of deed used to convey title after real property is sold at auction by public authority for nonpayment of taxes Pronunciation: Used in a Sentence: Once property is transferred by tax deed, all other liens against the property are ..
Definition: an authority, such as a city, county, school board, or special levy area, with the power to assess property owners annually in order to meet its expenditures for the public good Pronunciation: \ˈdis-(ˌ)trikt\ Used in a Sentence: Every fiscal year, each tax district prepares an operating budget for the next fi..
Definition: a claim against real property arising out of nonpayment of the property taxes Pronunciation: \ˈlēn, ˈlē-ən\ Used in a Sentence: The local tax lien for unpaid real property taxes generally has priority over all other liens on the..
Definition: the percentage of value that is used to determine the amount of tax to be levied against each individual unit of property Pronunciation: Used in a Sentence: The tax rate is established according to assessed ..
Definition: a term used to describe some tax advantages of owning real property (or other investments); an investment that shields items of income or gain from payment of income taxes Pronunciation: \ˈshel-tər\ Used in a Sentence: An investment is a tax shelter when it shields income or gain from payment of inc..