Homeowners Association (HOA)

In real estate, a Homeowners’ Association (HOA) is an organization made up of property owners within a defined community, such as a subdivision, condominium, or planned development. The association is created to manage, maintain, and improve common areas and to help...

Holdover Tenant

In real estate law, a Holdover Tenant is a tenant who remains in possession of leased property after the lease term has expired. The tenant originally occupied the property lawfully but no longer has a current lease agreement. A landlord may choose to treat the...

Holding Period

In real estate and taxation, a Holding Period is the length of time a taxpayer owns an asset before selling or otherwise disposing of it. The Internal Revenue Service uses this period to determine whether any gain or loss is classified as short term or long term. The...

Holder in Due Course

In real estate and commercial law, a Holder in Due Course is a person who acquires a negotiable instrument, such as a promissory note or check, under specific legal conditions. To qualify, the instrument must be taken before it is overdue, in good faith and for value,...

Holdback

In real estate finance, a Holdback is a portion of a loan that a lender withholds until specific conditions or contingencies are satisfied. These conditions are typically outlined in the loan agreement and may relate to construction progress, repairs, or completion of...