In real estate transactions, a standard coverage policy is a type of title insurance policy that provides limited protection against defects in title. It is used in some states and offers less comprehensive coverage than an Extended Owner’s A.L.T.A. policy. A standard...

In real estate valuation and leasing, square foot cost refers to the cost attributed to one square foot of floor space in a building or one square foot of land. It is commonly used as a standard measure to compare values and expenses across properties. Square foot...

In real estate and measurement, a square foot is a unit of area equal to a space one foot long by one foot wide. It is commonly used to measure the size of rooms, buildings, and land improvements. There are nine square feet in one square yard. Square footage is a...

In real estate law, a special warranty deed is a deed in which the grantor warrants title only against defects or claims that arose during the grantor’s period of ownership. It does not provide protection against defects that existed before the grantor acquired the...

In real estate and contract law, specific performance is a legal remedy that compels a party to perform the exact terms of a contract rather than paying monetary damages. It is used when money alone is not sufficient to compensate for a breach. Because real property...

In real estate law, a special assessment is a charge imposed by a public authority against real property to pay for public improvements that directly benefit the property. These improvements may include streets, sidewalks, sewers, or other infrastructure projects. A...

In real estate finance, simple interest is interest that is calculated solely on the principal amount of a loan. It does not take into account previously accrued interest. Simple interest is commonly used in many loan calculations and is distinguished from compound...

In real estate, a short term lease is a general classification for a lease agreement with a relatively brief duration. In some states, this term refers to leases of less than five years, while in others it may apply to leases of less than ten years. Short term leases...

In real estate and tax law, a short term capital gain is the profit realized from the sale of a capital asset that was not held for the minimum period required to qualify as a long term capital gain. The holding period is defined by tax law and may vary depending on...

In real estate law, a sheriff’s deed is a deed issued to the purchaser at a sheriff’s sale following the foreclosure of a mortgage. The delivery of the sheriff’s deed typically marks the beginning of a statutory redemption period, if one is provided by law. A...