Home Improvement Loan Rate
Home Improvement Loan Rate
Home Improvement Loan Rate

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Real Estate Terms of the Day for Home Improvement Loan Rate



BREACH OF CONTRACT
Violation of any of the terms or conditions of a contract without legal excuse; default, non-performance, such as failure to make payment when due.

TRADE FIXTURES
Articles of personal property annexed to leased premises by the tenant, as a necessary part of the tenant's trade or business.

TRANSFER TAX
Tax paid when title passes from one owner to another.

FLOOR DUTY
A frequent practice in real estate brokerage offices of assigning one sales agent the responsibility for handling all telephone calls and office visitors for a specified period of time.

COOPERATIVE OWNERSHIP
Cooperative ownership of an apartment unit means that the apartment owner has purchased shares in a corporation which holds title to the entire apartment building.

LETTER OF CREDIT
An agreement or commitment by a bank("issuer") made at the request of a customer ("account party")that the bank will honor drafts or other demands of payment from third parties ("beneficiaries") upon compliance with the conditions specified in the letter of credit.

INTESTATE
To die without a valid will.

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