What is a Novation?
A novation is new agreement that replaces an existing agreement. In real estate, novation is often used to modify the terms of a...
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professor566
Nov 15, 20231 min read
What is Net Operating Income?
Net operating income (NOI) is the income a property generates after deducting operating expenses such as property taxes, insurance, and...
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professor566
Nov 14, 20231 min read
What is a Net Lease?
A net lease is a type of rental agreement in which the tenant is responsible for paying some or all of the property taxes, insurance, and...
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professor566
Nov 10, 20231 min read
What is Market Value?
Market value is the estimated price at which a property would sell in a competitive, open market after a reasonable amount of time of...
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professor566
Nov 10, 20231 min read
What is a Mixed-Use Development?
A mixed-use development includes residential, commercial, and office space uses all within one building or development. By co-locating...
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professor566
Nov 10, 20231 min read
What is a Mansard Roof?
A mansard roof has a double slope, frequently used on Victorian-era homes or modern homes trying to replicate the look. This style can...
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professor566
Nov 9, 20231 min read
What is Marketable Title?
Marketable title is title to a property that is free and clear of any liens, encumbrances or rights of others except those the buyer is...
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professor566
Nov 8, 20231 min read
What is a Mechanic's Lien?
A mechanics lien or sometimes called a contractor's lien is a lien that a contractor or other worker can place on a property to ensure...
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professor566
Nov 7, 20231 min read
What are Maintenance Fees?
A maintenance fee is a monthly, quarterly or annual fee paid by the owner of a condominium or other type of common-interest development...
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professor566
Oct 30, 20231 min read
What is a Land Contract?
A land contract, also called a contract for deed, is a type of financing agreement in which the seller of a property agrees to sell the...
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professor566
Oct 30, 20231 min read
What is a Land Grant?
A land grant is a transfer of land from the government to an individual or organization. Want to learn more about Real Estate? Please...
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professor566
Oct 30, 20231 min read
What are Land Use Regulations?
Land use regulations are public and private controls that govern the use of land. Would you like to learn more about Real Estate? Please...
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professor566
Oct 30, 20231 min read
What is a Land Lease?
Land use regulations are public and private controls that govern the use of land. Would you like to learn more about Real Estate? Please...
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professor566
Oct 30, 20231 min read
What is Land?
Land is defined as the surface of the earth stretching both downward to the center of the earth and upward infinitely into space,...
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professor566
Oct 30, 20231 min read
What is Knob-and-Tube Wiring?
Knob-and-tube (K&T) wiring is an older type of electrical wiring that uses ceramic knobs and tubes to insulate the wires that was in...
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professor566
Oct 27, 20231 min read
What is a Junior Mortgage?
A junior mortgage that is one that is second or lower in priority to another mortgage on the same property. Would you like to learn more...
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professor566
Oct 27, 20231 min read
What is a Jalousie Window?
A Jalousie Window is a type of window that is made up of louvers that can be opened and closed to control ventilation and light....
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professor566
Oct 27, 20231 min read
What is a Jumbo Mortgage?
A Jumbo Mortgage, also called a non-conforming mortgage, is a mortgage that is larger than the conforming loan limits set by Fannie Mae...
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professor566
Oct 26, 20231 min read
What is a Judgment?
A judgment is a court order that requires a person to pay a debt or take a certain action. In regards to a property owner, a judgment can...
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professor566
Oct 24, 20231 min read
What is Joint Tenancy?
Joint tenancy is a type of property ownership in which two or more people own the property jointly and have equal rights of possession...
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