Home Improvement Loan
Home Improvement Loan
Home Improvement Loan

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Real Estate Terms of the Day for Home Improvement Loan



MAINTENANCE
The care and work put into a building to keep it in operation and productive use; the general repair and upkeep of a building. If maintenance is deferred, the building will suffer a loss in value.

PARTY WALL
A wall which is located on or at a boundary line between two adjoining parcels and is used or is intended to be used by the owners of both properties in the construction or maintenance of improvements on their respective lots.

MORTGAGEE
The lender in a mortgage loan transaction.

RIGHT TO RESCISSION
Under the provisions of the Truth-in-Lending Act, the borrower's right, on certain kinds of loans, to cancel the loan within three days of signing a mortgage.

BEQUEST
A gift of personal property by will.

FIXED RATE
An interest rate which is fixed for the term of the loan.

MONUMENTS
Visible markers, both natural and artificial objects, which are used to establish the lines and boundaries of a survey.

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