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COLLATERAL Assets (such as your home) pledged as security for a debt. CLOUD ON TITLE Any document, claim, unreleased lien or encumbrance which many impair or injure the title to property or make the title doubtful because of its apparent or possible validity. ABSORPTION RATE An estimate of the rate at which a particular classification of space - such as new office space, new housing, new condominium units and the like - will be sold or occupied each year. ACCELERATED DEPRECIATION A method of calculating the depreciation of certain property (that property which is used in a trade or business, or which is held for the production of income) at a faster rate than would be achieved from using the straight line method of depreciation. ETHICS A system of moral principles, rules and standards of conduct. LITTORAL LAND Land bordering on the shore of a sea or ocean and thus affected by the tide currents. RECORDING The act of entering into the book of public records the written instruments affecting the title to real property, such as deeds, mortgages, contracts of sale, options, assignments, and the like. Proper recordation imparts constructive notice to all the world of the existence of the recorded document and its contents. |
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