Real Estate Terms : A to Z
The American Land Title Association (ALTA) is a national trade organization that represents the title insurance industry in the United States. Founded in 1907, ALTA includes title insurance companies, …
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In the real estate context, 'bankrupt' refers to a person or an entity that has been legally declared insolvent due to the inability to pay off their debts, including mortgages. This often involves …
The net proceeds from the sale of a property. The sale price minus legal fees and expenses, realty commission, any taxes paid, mortgage payout etc. …
The relationship between a person (the Principal) and another person (the Agent) who was appointed, selected, empowered, given authority by the Principal to represent the interests of the Principal in …
An agency relationship created by the actions, behavior or statements of the Principal and/or the Agent upon which a third party relies. Ostensible Agency may be found by a court where no agency …
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An agency relationship where the authority to represent is imputed to the Agent as a result of an emergency situation to protect the interests of the Principal. …
Real Estate Terms : A to Z