In real estate appraisal and investment analysis, straight line depreciation is a method of allocating the cost of an income producing property evenly over its economic life. Each year, the same fixed amount of value is deducted to reflect the gradual loss in...

In real estate leasing, a straight lease is a lease agreement that requires the tenant to pay the same amount of rent at regular intervals throughout the entire lease term. The rent remains fixed and does not change over the duration of the lease. Straight leases...

In real estate leasing, a step up lease is a lease agreement that provides for predetermined increases in rent at specified intervals during the lease term. The rent adjustments are set in advance and do not depend on market conditions. Step up leases are commonly...

In real estate law, a statutory warranty deed is a deed that conveys title with certain warranties implied by statute rather than expressly stated in detail. It infers that the grantor is the undisputed owner of the property, has the legal right to convey it, and will...

In real estate law, a statutory lien is an involuntary lien created by operation of law rather than by agreement of the parties. It arises automatically when specific conditions set forth in a statute are met. Common examples of statutory liens include property tax...

In real estate and legal practice, the Statute of Limitations refers to the time period within which a legal claim must be brought in court. These time limits are established by statute and vary depending on the type of action. Once the applicable statute of...

In real estate and contract law, the Statute of Frauds refers to laws that require certain types of contracts to be in writing in order to be enforceable. The purpose of these laws is to prevent fraud and misunderstandings by requiring clear evidence of the parties’...

In real estate finance, a standing loan is a loan in which the borrower is required to make payments of interest only during the term of the loan. The principal balance remains unchanged throughout the loan period. At maturity, the entire principal amount is due and...

In real estate finance, a standby commitment is an agreement by a lender to provide a loan for a specified period, typically one to five years, if a permanent loan cannot be obtained after construction is completed. It serves as a backup source of financing to ensure...

In real estate appraisal, standard depth refers to the depth of a lot that is considered typical or normal for valuation purposes. It provides a benchmark against which lots of greater or lesser depth may be compared. Traditionally, a standard depth for a residential...