In real estate and estate law, Intestate refers to the condition of a person who dies without leaving a valid will. When a person dies intestate, their property is distributed according to state intestacy laws rather than the deceased’s personal wishes. Under these...

In real estate finance, Interim Financing refers to short term, temporary financing used until permanent financing can be obtained. It is most commonly associated with construction projects, where funds are needed during the building phase. Interim financing typically...

In real estate finance, an Insured Mortgage is a loan that is protected by insurance against loss to the lender if the borrower defaults and the property does not generate enough proceeds at foreclosure to cover the outstanding balance and related costs. This...

In real estate finance, an Interest Rate is the percentage of a loan amount that is charged for the use of borrowed money over a specified period of time. It represents the cost of borrowing and is most often expressed as an annual percentage. The interest rate...

In real estate finance, an Interest-Only Loan is a non amortizing loan in which the borrower makes payments that cover only the interest on the loan during the term of the loan. The principal balance remains unchanged throughout the interest only period. At the end of...

In real estate finance, an Interest-Included Note is a promissory note that requires equal periodic payments, usually made monthly. Each payment includes both principal and interest, with interest calculated on the declining principal balance. As the principal balance...

In real estate finance, an Interest-Extra Note is a promissory note that requires the borrower to make equal periodic payments toward principal, usually on a monthly basis, plus interest on the outstanding balance. Because the principal portion of each payment remains...

In real estate finance, Interest is the charge paid for the use of borrowed money, known as the principal. It represents the lender’s compensation for lending funds and assuming the risk of repayment. Interest is usually expressed as a percentage rate and may be...