Home Improvement Lowes
Home Improvement Lowes
Home Improvement Lowes

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Real Estate Terms of the Day for Home Improvement Lowes



INCOME APPROACH
An approach to the valuation or appraisal of real property as determined by the amount of net income the property will produce over its remaining economic life.

COMMON LAW
That body of law which is based on usage, general acceptance, and custom, as manifested in decrees and judgments of the courts; judge-made law, as opposed to codified or statutory law.

ENCROACHMENT
An unauthorized invasion or intrusion of a fixture or other real property wholly or partly upon another's property, thus reducing the size and value of the invaded property.

COUNTER-OFFER
A new offer made as a reply to an offer received from another; this has the effect of rejecting the original offer, which cannot thereafter be accepted unless revived by the offeror's repeating it.

LEASEHOLD
A less-than-freehold estate which a tenant possesses in real property.

SECOND MORTGAGE
An additional mortgage placed on a property that has rights that are subordinate to the first mortgage.

ARM
See Adjustable Rate Mortgage Loans.

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