A Conditional Estate, also known as Fee Simple Defeasible, is a type of ownership where the owner's rights may be revoked upon the occurrence or non-occurrence of a particular event.
A demising partition is a barrier or partition used to separate two adjacent tenant spaces or to separate a tenant space from common areas, such as corridors, in commercial real estate. This term is commonly used in the context of lease agreements and construction specifications.
In real estate terms, a Flat can refer either to a single-level apartment or a type of mortgage or lease with level payments.
A front foot is a standard measurement of land length, applied along the frontage at the street line. It is often used for lots of generally uniform depth in commercial or downtown areas.
A quadrangle is a square-shaped land area 24 miles on each side, utilized in the Government Rectangular Survey method of land description. Each quadrangle contains 16 townships.
A Ranch House is a one-story house design that originated in the western United States, characterized by its long, low, and rambling style.
Rent acceleration is a provision in a lease agreement that allows a landlord to demand the entire remaining rent due if the tenant defaults on the lease.
A tax and insurance escrow account, often required by mortgage lenders, is used to fund annual property tax assessments and hazard insurance premiums for the mortgaged property. This account is funded through monthly contributions by the mortgagor.
In real estate, a yard refers to the outdoor area that surrounds a home or building. This can include front yards, side yards, and backyards, each offering unique opportunities for landscaping, leisure activities, and adding aesthetic value to the property.
