The preparation of a payment plan for a loan which allows for equal payments to be made to the creditor at consistent intervals over the life of the loan (the amortization period). Each payment covers …
Bedroom Community
A bedroom community is a residential area or suburban neighborhood located on the outskirts of a major city, where a significant portion of the residents commute to the city for work. These …
Adjustments
In real estate, adjustments refer to the prorated expenses that are divided between the buyer and seller at the time of closing. They ensure that both parties pay their fair share of costs, such as …
Agent
A person empowered by a Principal to act on behalf of the Principal in dealings with third parties. The third party is entitled to rely upon the agreement, assurances or statements of the Agent as …
Administrator
A person appointed by a Court to deal with the estate of a deceased person who died without leaving a will (who dies "intestate"). Note, an executor is a person who is named in a will to deal with the …
Agreement Of Sale
• Also known as Purchase Agreement, Agreement of Purchase and Sale, Land Agreement• A legal contract in which one party agrees to buy and another agrees to sell a property or chattel. …