by Ethan Atkinson | Apr 7, 2026 | K-O, PropertyPedia
A mini-perm loan is a medium-term financing instrument used to bridge the gap between short-term construction or acquisition financing and long-term permanent financing. Typically lasting between three and ten years, a mini-perm loan allows a property owner or...
by Ethan Atkinson | Feb 6, 2026 | K-O, PropertyPedia
In real estate law, ownership refers to the rights of one or more persons to possess, use, and control property to the exclusion of others. It represents a legal relationship between a person and property that is recognized and protected by law. Ownership is often...
by Ethan Atkinson | Feb 6, 2026 | K-O, PropertyPedia
In real estate and agency law, ostensible authority refers to the authority that a third party reasonably believes an agent possesses based on the actions or omissions of the principal. It arises when the principal’s conduct creates the appearance that the agent is...
by Ethan Atkinson | Feb 6, 2026 | K-O, PropertyPedia
In real estate and site planning, orientation refers to the placement of a structure on a lot in relation to environmental and surrounding factors. This includes consideration of exposure to the sun’s rays, prevailing winds, street frontage, and nearby sources of...
by Ethan Atkinson | Feb 6, 2026 | K-O, PropertyPedia
In real estate and contract law, an oral contract is a verbal agreement between parties that has not been reduced to writing. It is formed through spoken words rather than a written document. While oral contracts may be legally valid in some circumstances, many real...
by Ethan Atkinson | Feb 6, 2026 | K-O, PropertyPedia
In real estate, an option is a contractual right granted for consideration that allows a person to purchase or lease a property on specified terms within a defined period of time. The party receiving the option has the exclusive right to decide whether to exercise it....
