A fee charged by the lender to guarantee a specific set of loan terms to be honored at some future date. …
Commitment Letter
A letter outlining the amount, terms and conditions under which a lender is willing to offer a mortgage. …
Common Area
An area inside a housing development that is owned by all residents. …
Common Areas
Lands or improvements on land that are designated for common use and enjoyment by all occupants, tenants or owners. The lobby, a pool, tennis court or common hallways would all be Common Areas in a …
Common Law
A body of laws based on custom, usage, and rulings by courts in various jurisdictions. …
Common Tenancy
The ownership of property by two or more persons, where on the death of one, his share does not automatically go to the other(s) but is credited to his estate. …