Glossary |
Terms that are on use on this site.
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| There are 14 entries in the glossary. |
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| Cancellation | Termination of a contract without undoing those acts that have already been performed under the contract. |
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| Capital Gain | Profit realized from the sale of a capital asset. |
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| CC&Rs | Declaration of covenants, conditions, and restrictions usually recorded by a developer. This places restrictions on all lots within a new subdivision. |
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| Certificate of Eligibility | Document issued by the Veterans Administration showing a veteran's eligibility for a VA guaranteed loan. |
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| Certificate of Sale | Document given to the purchaser at a mortgage foreclosure sale. |
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| Chattel | Article of personal property. |
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| Closing | Final stage in a real estate transaction - seller receives the purchase money, buyer receives the deed and title is transferred. |
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| Closing Costs | Expenses incurred in the transfer of real estate in addition to the purchase price such as the appraisal fee, title insurance premium, state deed tax, broker's commission, etc. |
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| Code of Ethics | Rules setting forth accepted standards of conduct which reflect principles of morality and fairness. |
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| Conditional Use Permit | Permit allowing a special use of a property where it would otherwise be prohibited by the zoning. |
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| Contingency | Provision in a contract that makes the parties' rights and obligations depend on the occurrence, or nonoccurrence, of a particular event. |
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| Contract for Deed | A contract for the sale of real property in which the buyer (vendee) pays the seller (vendor) in installments. The buyer takes immediate possession of the property, but the seller retains legal title until the contract price has been paid in full. |
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| Conventional Loan | A loan that is not insured or guaranteed by a government agency. |
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| Counteroffer | Responding to a contract offer with changes to some of the terms of the original offer. |
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Glossary V2.0 |
Real Estate Terms