5 Simple Statements About Hattiesburg Real Estate Glossary Explained

Realty Executives, The Executive Team, Inc.
118 Lamar Blvd #10, Hattiesburg, MS 39402, USA
8J94+FJ Hattiesburg, Mississippi, USA
+1 601-268-1600

Month-to-month lease payments are still currently being car drafted from my account just after I turned in my apartment keys and thirty day detect.

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SPECIFIC Efficiency - A authorized action brought inside of a court of equity to compel a celebration to perform the terms of the agreement.

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Determination - The appliance of privately owned land to the general public for no thing to consider, Along with the intent which the land will probably be acknowledged and used for community needs.

SURVIVORSHIP - The correct of survivorship is Unique attribute of the joint tenancy whereby all title, proper and fascination of a decedent joint tenant in certain home passes to your surviving joint tenants by Procedure of regulation, totally free from claims of heirs and creditors on the decedent. T Get-OUT FINANCING - Long-phrase permanent funding.

Study - The process by which boundaries are measured and land locations are determined; the on-web page measurement of ton lines, Proportions, and situation of houses my site in a good deal including the resolve of any current encroachments or easements.

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PURCHASE MONEY MORTGAGE - A mortgage presented to the vendor as part of the buyer's thought for the acquisition of real assets, and delivered simultaneously that the real house is transferred like a simultaneous Element of the transaction. Q QUALIFIED Price - An estate in payment that's topic to certain limitations imposed via the proprietor.

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TAX LIEN - A standard statutory lien imposed against real property for failure to pay for taxes. You can find federal tax liens and condition tax liens.

S SALE AND LEASEBACK - A transaction through which, generally, an proprietor sells his improved property and as Section of the identical transaction indications a protracted-phrase lease and continues to be in possession.

ACCRETION - The this gradual and imperceptible addition to land by alluvial deposits of soil by way of organic results in, for example shoreline motion caused by streams or rivers.

AFFIDAVIT - A sworn statement decreased to producing and built under oath ahead of a Notary Community or other official authorized by law to administer an oath.

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